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About Me:

Monkey Mama

Just a 46-year-old mom of 2 in Northern California. My kids are Monkey Monkey(MM) and Drama Llama (DL). I am married to Monkey Hubby (MH).

We were a one-income family for 13 years. In late 2015 my spouse returned to work (minimum wage/part-time/seasonal). Something recent on his resume just buys us more options for the long run. The main benefit of this job is that he just works while the kids are in school. As always, we are saving 100% of his income.

{2023 Update: I expect that MH will retire from this job when kids are done with college and/or home is paid off. I think he likes the idea of finding more interesting or full-time work, with kids both adults now. But practically, might just stick out the *good* and very flexible job as long as possible. The very part-time job is allowing him to pursue his film passions. We are only about 5-ish years away from financial independence. Would be very different if we "needed" the money or he thought he might have decades of working years ahead of him.}

We saved a lot while we were very young and also moved to a lower cost-of-living area, to make life much simpler. We still live in California though (in one of the most expensive regions of the U.S.). *Simple* and *inexpensive* is relative.

Likewise, we have never had debt aside from our mortgage.** My blog is a testament to how much simpler life is without debt; how we have that much more money to both save and enjoy!

**Caveat: I have no problem whatsoever with credit cards paid off monthly, or low-risk credit arbitrage (for example, 0%-interest debt while earning 5% on FDIC-insured cash). These are the kinds of debt we have had. Just not interested in high-interest debt, using debt to buy beyond means, and not interested in the hassle that comes with loans and payments. With age and means, the latter (hassle) is our biggest debt avoidance motivation.

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2024 Goals

[ ]Small monthly Charitable Contribution
...($35 @ 1/31/24)
...Trying to be more mindful about how the little amounts add up and are helpful.
...This is not an all inclusive list of charitable giving but it is a new habit I want to add in addition to other donations of time, goods and money

[ ]Pay cash for college
...This is so much a given, to me. But I realize not everyone can read my mind, and so will memorialize in my goal list.
...#1 We don't do Debt
...#2 The student loan system is a scammy and corrupt mess.
...Seriously, wouldn't touch these student loan servicers with a ten foot pole.
MM YEAR 1 ✔
MM YEAR 2 ✔
MM YEAR 3 ✔
MM YEAR 4

DL YEAR 1 ✔
DL YEAR 2

[ ]$10,000 to savings
...($4,529 @ 3/31/24)
...$1,000/month, plus interest
...Topping off with snowballs

[ ]$7,500 to investments
...($1,750 @ 4/30/24)
...$350/month, plus snowflakes
(Snowflakes: credit card rewards and dividends)
...Topping off with snowballs

[ ]$2,025 to mortgage
...($0 @ 4/30/24)
...Topping off with snowballs and/or excess cash
...Keeps us on track with $10K principal paydown per year

[/]9% of household income to work retirement plans
...(9% @ 3/31/24)
...This is the minimum for the match; I'd otherwise rather fund IRAs.
...Note: Total retirement savings rate is 20% (with IRAs)

Goal savings rate = 25% of gross salary, plus funding IRAs from other sources.

[ ]$14,000 to IRAs 2024 (MAX)
...($0 @ 4/30/24)
...Will fund with MH's income
...Will not fund until the year is over. This is for tax and planning reasons. I won't know what mix of Traditional/ROTH IRA we literally can contribute until we do our 2024 taxes. In addition to that, can make a more informed decision based on our financial and tax situation for the entire year.

-------------------------------

**Long-Term Goals**

[X]$500,000 in retirement accounts by age 45.

Current big picture goal:

[ ]$1 Mil in retirement accounts by age 52.

Stretch Goal: Achieve by age 50

Have decided to pretty much stay the course. Keep saving 20%+ to retirement. This means taking 401K match & maxing out IRAs.

NOTE: WE HAVE NEVER CONTRIBUTED LESS THAN 10% TO RETIREMENT. NO EXCEPTIONS.

If we can't achieve at least 10%, then something else has to give. I share because it's infinitely easier to save for retirement if you start early. Let the investments do the hard work for you.

-------------------------------

Debt: $85,000 mortgage
{Home Purchase Price $290,000}

Ongoing goal is to *never borrow money again.*

Took on a $230k mortgage in 2001 and have not added to that.

-------------------------

Net Worth: Increase net worth by $600,000 in the next 10 years. This is my "financial independence" goal.

2017: +$ 70,000 (partial year)
2018: +$ 51,000
2019: +$105,000
2020: +$104,000
2021: +$215,000
2022: <$ 65,000>
2022: +$ 85,000
TOTAL: +$565,000

This is in line with prior goal, saving 100% of our expenses every year.

{Our expenses are far more consistent than our income. Also, helps to prevent "living up to income."}

-------------------------------

My Pages

What a Week!

May 30th, 2013 at 01:43 pm

Nothing in particular; just the sum of all the parts. Tuesday was such a *Monday* at work. A Monday with a full moon. At least yesterday was quiet and I accomplished something. Yeesh.

The kids have this and that going on. Dh put together my elliptical and is now putting together his new computer. So today it looks like a computer parts store threw up in my house.

The elliptical is okay. I can see the benefits, and it is thankfully quiet, but doubt it will entice me to quit the gym. I tried... I just don't want to invest the money, man power, hassle and space to get a gym-quality machine. & I won't be happy with anything less. This is making my $15/month gym membership seem extra valuable. So for that, it is all good.

New cat is keeping us on our toes. He's mostly a well-behaved love. Especially since we have so many people and activity to occupy him. (I could see him easily being bored and in much trouble, otherwise). But, he did almost literally kill himself in the blind cords (I have the childproof cord winders and went through checking them all and installing after that incident - just glad he is okay). HE also tried to run off with our thawing chicken the other night. It was pretty frozen still so he didn't get very far with it. Rolleyes He is serving his purpose - more laughter and lighter hearts - has really helped with the mourning process of losing our pet.

This weekend I have an appointment to check out a local boarding place. Since my set point is about $0 - it is $$$$$ - but we wanted the freedom to travel if we picked up another pet, so it is what it is. The place is pretty cheap and close to home (though extremely highly rated).

He is also a total pig; eating me out of house and home - a good match for my children (boy do they all have some metabolisms! - but their energy level at least matches). Though we are going to take him to the vet re: that. I think it's possible could be sign of medical condition. I think it's a little bit of everything (Was probably neglected in the past and hoarding food, plus high energy). BUT, he also produces so much waste - I do not know if that is over-eating or if could be sign of something else going on. We've had him 30 days and he has not seemed to have gained or lost an ounce, but admittedly I am very much monitoring his food. I have still been feeding him well above average. I just wanted to make sure we weren't over-feeding him. We don't seem to be. I suppose I can relax that we are not starving him either. Because like my children, he acts starved when you only feed him 2-3 times what is recommended. Rolleyes

-----------------------------------------------------

I am no longer sad we missed Weird Al concert last year for bajillion dollars. We just snagged great fair concert seats for $20 per person. Now that was what I remembered paying in the past. Big Grin

The concert is the day before BM's birthday. !!

BM also got his first two college summer class choices. SO, this is his summer:

**Two weeks of Engineering Classes
**10 Days in London (MIL is taking him)
**Weird Al concert

Does he need anything else for his birthday? Um, heck no. He turns 10 this summer...

----------------------------------------------------

Our own vacation plans?

**Family Camp in late June. This is why I am looking into the cat boarding right now. It's 3 nights, but the first time we have really left him any length of time, so I think it will be a good chance to try out the boarding place. We did not pay anything for camp, so I think it's reasonable to splurge on cat care.

**We are going to do another post Thanksgiving weekend in Pismo Beach with my folks. We had the most amazing time last year.

**Hadn't made any plans yet, but want to do a 9-day road trip in October, now that we aren't tied down with pet situation. Would like to see Grand Canyon, Death Valley, Vegas, Bryce Canyon, etc. I am sure we will narrow it down. Heck, we might just wing it. I LOVE road trips and it's been way too long. So it's bittersweet as to the why we are able to do it, but am really excited about this vacation. I love road trips, but except for Vegas and driving to see family in the mid-west MANY times, I have not seen any of the destinations that I mentioned. I am ready for something new and different. Cat boarding will be a must for this trip.

-----------------------------------------------------

The next couple of weeks should be pretty busy with school wrapping up. Summer will fly by with all the activity.

Posted in Just Thinking | 7 Comments »

7 Responses to “What a Week!”

rob62521 Says:
May 30th, 2013 at 02:31 pm 1369924313
1369924313

Personally, I don't think $15 a month for a gym membership is very expensive...about 50 cents a day if you use it...economical and you don't have to have exercise equipment at home.
MonkeyMama Says:
May 30th, 2013 at 03:22 pm 1369927378
1369927378

I've never struggled with the cost, but am struggling with the time/gas/hassle. Really just hoping we get a discount gym closer to home, eventually...
Petunia 100 Says:
May 30th, 2013 at 03:28 pm 1369927685
1369927685

I love road trips too! I have done two separate month-long ones about a decade ago. I am planning to do one next summer and take Mom, because there is so much she has never seen. October is a great month to see desert sites! Hope you have fun.
FrugalTexan75 Says:
May 30th, 2013 at 03:42 pm 1369928541
1369928541

Your cat's eating habits sound a lot like Kari's. No matter how much I feed her, she still acts like she's starved anytime I go near the fridge (where her food is stored.)
MonkeyMama Says:
May 30th, 2013 at 11:46 pm 1369957605
1369957605

@FT - Thanks for the input. I hadn't really thought much about it being the breed, but it seems to be a common trait of the Siamese (now that I look it up). If I realized, I would have had second thoughts. I can't leave out food without him gobbling it all up - so I do have to invest in an automatic feeder. But that should solve most of it. I can ask my parents to pick up cat food for me at Costco, perhaps.
PatientSaver Says:
May 31st, 2013 at 12:07 am 1369958824
1369958824

It's generally said that if you feed a cat a low quality food, it will have to eat more to get the nutrition it needs, and hence, poop more. The higher quality foods like Halo or Blue Buffalo do a much better job of meeting a cat's needs.
FrugalTexan75 Says:
May 31st, 2013 at 02:00 am 1369965654
1369965654

MM - You could also try a feeding ball. I fill one up before I leave for work - that way Kari has to "work" for her food. She really seems to like it. I can relate to not being able to leave any food out ...

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

What a Week!

7 Responses to “What a Week!”

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