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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
...($6,653 @ 4/30/24)
...$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% @ 4/30/24)
...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

Updated energy Bill - $25

November 8th, 2006 at 07:49 pm

I just noticed my bill was only really $25, because I volunteer to pay an extra $6/month to support green energy. I rounded a little, so in the end it was REALLY only $25.

I Was just looking at my electric bill which is separate from my gas bill. It was $20 including a $5 servie charge, $2 or so in taxes, and the $6 voluntary green energy payment. Gas was $11. I don't have the bill online to look at the details. But just amazing how low the bill is with that $6 - don't think I Was paying that last year.

Hmmmm, I have really no idea why it was SO low - the electirc portion was 1/3 of last year at the same time. I am thinking overall weather. We had the heat on for a while a day or 2, but the house has reamined steady between 68 minimum at night and 74 maximum during the day since. Pretty pleasant and no doubt unusual for late October and November. It is raining today and warm overall.

I am starting to worry if they read the meter wrong - hehe.

Oh yeah - and another interesting article from the state CPA society today - on shady credit card companies:

http://www.ocregister.com/ocregister/money/moneysmarts/artic...

Posted in Saving, Just Thinking | 4 Comments »

4 Responses to “Updated energy Bill - $25”

Broken Arrow Says:
November 8th, 2006 at 08:20 pm 1163017218
1163017218

Hear that? That's the sound of my jaw dropping.
monkeymama Says:
November 8th, 2006 at 08:45 pm 1163018708
1163018708

It is amazing how little we pay for the washer/dryer, television always on, electricity, stove/oven which we use almost every day, computers on all the time, hot water heater (which is probably most of the gas bill).

I still haven't ruled out meter-reading error. LOL. But I can guarantee once the heat is on in winter, or air in summer, our bills do not stay that low...

This month I will enjoy!
LuckyRobin Says:
November 9th, 2006 at 04:53 am 1163048012
1163048012

Didn't you have torrential rains in your area all last fall and winter? Might have made it a lot colder and had you using the heat more?
monkeymama Says:
November 9th, 2006 at 05:28 pm 1163093328
1163093328

Yes. & this weather is extremely mild right now for this time of year. BUT I don't think we have EVER had such a low bill!

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Over Prepare, Then Go With The Flow

Updated energy Bill - $25

4 Responses to “Updated energy Bill - $25”

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