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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.

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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.

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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

Nice Weekend & Snowflakes

February 2nd, 2014 at 04:30 pm

Another gorgeous weekend in San Francisco. WOW!

I met up with my bff since we couldn't mesh our schedules last weekend. We had lunch and drinks with a beach view. The time went too fast.

We actually had some rain last week and might get more this week. Phew! (Not enough, but it is something).

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**I redeemed $25 credit card reward and added to mortgage payment. Also added $20 for carpool savings and $15 for internet savings. Total $60 snowflake for 2/28 mortgage payment. I will pay it at the end of the month.

I also expect a $200-ish insurance rebate (we get every February) so will add that to the mortgage payment as well.

**I updated side bar for total January interest received. No other savings this month since it was only a one-paycheck month.

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I think we pulled off a no-spend weekend. We went down to Bay Area for FIL's birthday. The car already had a pretty full tank (filled up when we got home last weekend). I spent money on lunch, but MIL slipped us a $50 gas card when we left. She often gave us cash when gas prices were very high and we were dealing with dh's medical problems and so on. BUT, it has been a long time. Not expected in the slightest.

So, if I spent about $20 on lunch, and I got $50, then it nets out to a profit. FIL took dh and the kids to the movies while I had my girl time.

I wasn't expecting to make out so well this weekend. Was just expecting to spend.

It's carpet cleaning weekend at work. I should probably work from home. I should probably do some errands. But, I think I will torture myself by doing nothing. Will mean a crazier schedule next week, but am looking forward to a breather before things get REALLY crazy. Maybe if I relax all day I can work up to a little shopping tonight. I have $90 in Kohls gift cards, and only need some nice pants (my work pants are getting pretty worn from so much wear). So, not expecting to spend any actual cash or to use up all my gift cards.

Posted in Just Thinking, Vacation Lifestyle, Credit Card & Bank Rewards | 3 Comments »

3 Responses to “Nice Weekend & Snowflakes”

FrugalTexan75 Says:
February 2nd, 2014 at 07:05 pm 1391367941
1391367941

Glad you could spend some quality time with a good friend before the craziness of tax season.
Looking Forward Says:
February 2nd, 2014 at 07:12 pm 1391368336
1391368336

Ha! Rest up before you shop - I know exactly what you mean!
Enjoy your quiet day.
rob62521 Says:
February 2nd, 2014 at 08:45 pm 1391373955
1391373955

Hope you receive more rain, as well as California as a whole. The news had stories about the drought in some areas and how some communities will run out of drinking water. Hope rains falls before this happens.

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Nice Weekend & Snowflakes

3 Responses to “Nice Weekend & Snowflakes”

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