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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.

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

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

January 8, Quiet & Relaxing

January 9th, 2018 at 03:07 pm

January 8
$10 Gymnastics
Dinner: Falafels

MH used his movie pass today. He's not used very much because he just hasn't had time. The movie was free. I asked him if he had any free screenings to go to. He said there was one this week, but we have plans every night pretty much. He usually goes to the advanced screenings a couple of times a week. So I wouldn't be surprised if he just started going to regular movies 2-3 weeks instead. But the advanced screenings are fun, and by far the better deal if the kids and I ever want to go too.

Work was so quiet and calm. It has been constantly crazed for the past month or so. I am used to more quiet days than crazy days, in general.

I got confirmation that insurance issue is squared away with mortgage holder. Phew! That was just the icing on the cake and it feels like a load had been lifted off my shoulders (between that and work settling down a bit). Don't get me wrong, it's a horrible deadline month and these new W2/1099 deadlines are entirely impossible. But I just feel like I can slow down and breathe this week. Panic can resume next week.

When I came home, MH was in a similar mood. He was thrilled he had time to go to the movies!

P.S. I've noticed in the past that MH's menu planning seemed to be more themed. Chicken one week. Lots of beef another week. Then a vegetarian week. I think it's subconscious. Anyway, I didn't notice that so much this time until now. Last 3 meals were non-meat?? (I made the sloppy joes, last minute, so was not part of the meal plan at all).

Posted in Just Thinking, Daily Expense Challenge | 6 Comments »

6 Responses to “January 8, Quiet & Relaxing”

rob62521 Says:
January 9th, 2018 at 03:44 pm 1515512690
1515512690

Glad work was calm. Calm before the storm?

Interesting about MH's meal planning and the themes.
MonkeyMama Says:
January 9th, 2018 at 04:38 pm 1515515914
1515515914

It was the calm AFTER the storm. Or in between storms I guess, but for now I am optimistic that tax season won't be so bad as the last couple of months.
CB in the City Says:
January 9th, 2018 at 06:00 pm 1515520814
1515520814

I would guess he's planning his menus around the shopping he has done, and he's buying in bulk.
MonkeyMama Says:
January 9th, 2018 at 06:28 pm 1515522534
1515522534

@CB - no, we don't buy in bulk. (None of these vegetarian meals had any crossover). But the current week sales could be some of it.
MonkeyMama Says:
January 9th, 2018 at 06:30 pm 1515522649
1515522649

@CB - no, we don't buy in bulk. (None of these vegetarian meals had any crossover). But the current week sales could be some of it. Mostly he asks for our input and it's just what we all feel like eating that week.
FrugalTexan75 Says:
January 10th, 2018 at 03:22 am 1515554530
1515554530

Maybe it's just what he's in the mood for that week

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January 8, Quiet & Relaxing

6 Responses to “January 8, Quiet & Relaxing”

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