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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.

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**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."}

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My Pages

Just Busy

September 17th, 2013 at 01:09 pm

Just Busy over here. I have a (very rare) big project at work, which means lots of work and overtime. So, is all good - my month has been extraordinarily low spend on the discretionary stuff (gas, food, retail). Like, I am not sure if I have spent one penny this month. Dh filled up a vehicle for me. It's like tax season, except I have a vacation to look forward to!! {& maybe not quite the pressure. Phew!}

Lord knows of all years that we can use some extra overtime.

**We are still having plumbing issues. So, lord knows. IT could be a "This caused our leak in the first place" thing. IT could be a "They messed something up" thing. All I know is, "No one knows what the hell it is" thing - which is frustrating.

**I wish I cataloged all of the Citi offers dh got in the last month or so... Talk about random. If they just send us 100 different offers, all with varying terms, maybe we will just pick something??? The *best* deal, that we had received early on, expired yesterday. So, I redeemed it. I would generally hold out for better rewards, but this is one he has already done twice. IT's a triple dip! Basically, it had a low spending minimum, so maybe seemed more worth the effort. Especially if there is a chance we won't get the reward. It is spend $1,000 for a $250 reward. I can redeem it for cash, and I am expecting it to go towards vacation costs.

**Vacation. Now, I am really excited about vacation! Is a trip I have been wanting to do for a very long time.

It's a "Grand Canyon" trip, and I have never seen the GC before. BUT... That seems like the least exciting part of the trip, at this point.

Other views I am looking forward to seeing:

I am kind of in "wing it" mode, but this was making dh nervous. I told him I thought a plan sounded grand, but he has actually been on a southwest road trip, and has the time - so he should maybe do some planning. We sat down this weekend and shaved several destinations off of our list. There are just not enough hours!! But, if it goes really well, we can at least get a taste of *what* we want to see more, or if we should just take two weeks next time. I think we will see a ton.

We more carefully planned out the first couple of nights and booked rooms. Not thrilled that both required deposits for 100% of the cost. Rolleyes Just not helping with the money outflow. We may end up booking most the hotel rooms this month and paying ahead. Oh well...

Vacation Discussions:

Dh asked if we should consider skipping this trip, at some point. Given our year. Heck no! I feel like if we don't go now, who knows when we will have another opportunity. We have been waiting years to be able to do something like this. We did talk about just cutting it short if it was getting to be too expensive. I feel like probably I am under-estimating costs. While on the road there, I feel like we will probably just say, "Whatever." I suppose the compromise is that if it costs twice as much as expected, we may have to give up one year in the future and stay home. So, this is one reason I appreciate the Citi reward that I just applied for. If I can add $250 to my vacation budget, that means a lot.

Basically, what I am thinking is "dirt cheap road trip" but having trouble wrapping my brain around what it means to have three other people with me, and to pay for gas on the minivan. I haven't road tripped since I Was single. !! I think most our trip will be national parks, PB sandwiches, and $50 motels. BUT, we splurged on a hotel in Death Valley for the first night, and dh and I Are coveting our favorite Vegas buffet. Which may have always been a reasonable splurge for the two of us, but quickly adds up to $100 for one meal for four. No matter - we will eat well because we won't be eating anything but PBJ the rest of the week. Big Grin

If the trip comes under budget, the Citi $250 can pay for the bulk of our November beach trip. I think most likely we will have to cancel this trip this year. But, will see... The good thing is I don't have to decide until November. Gives us time to see how our road trip and this plumbing stuff shakes out.

Posted in Just Thinking | 8 Comments »

8 Responses to “Just Busy”

Wino Says:
September 17th, 2013 at 03:21 pm 1379431267
1379431267

Are you taking an RV for the trip, or the car? I've never been to the Grand Canyon, either. That visit is on my "bucket list."
creditcardfree Says:
September 17th, 2013 at 04:43 pm 1379436180
1379436180

The Grand Canyon is amazing! I want to go back.
LuckyRobin Says:
September 17th, 2013 at 06:40 pm 1379443256
1379443256

The Grand Canyon is one of the most awe-inspiring things you will ever see. It is fantastically beautiful and breathtaking. There are also some beautiful ruins in the area. I went when I was 19 and would love to go back with my kids and husband.
FrugalTexan75 Says:
September 18th, 2013 at 03:00 am 1379473243
1379473243

Hey ya know, if you get out near ABQ .. I'd love to have y'all by for a visit. I imagine it would be a real experience for your kids to see a school population made up of 98% NAs. (Of course this depends on when you guys are going on this trip.)
MonkeyMama Says:
September 18th, 2013 at 04:15 pm 1379520949
1379520949

Laura - I sent you an e-mail. Hopefully you got it!

@Wino - just taking our vehicle.
Looking Forward Says:
September 18th, 2013 at 09:03 pm 1379538192
1379538192

I am so excited for your trip. The GC is on our list of places to visit "someday". Can't wait to hear about things. Have a fab time!
Looking Forward Says:
September 18th, 2013 at 09:05 pm 1379538344
1379538344

PS. to your plumbing troubles.
baselle Says:
September 20th, 2013 at 05:25 am 1379654756
1379654756

I enjoyed the GC! But all of Utah is amazing, even the itty bitty state parks. Also dial around the radio and see if you can hear Navajo. Much more interesting than the usual.

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Just Busy

8 Responses to “Just Busy”

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