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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.

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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

No Spend Day

January 9th, 2007 at 11:42 pm

Jan. 9 - $00.00
Jan. 8 - $16.30 Groceries
Week 1 total: $374.24

**2 no spend days**

Items bought new in 2007:
Nintendo DS accessories (2) (dh)
Underwear(dh)

Items bought used in 2007:
Nada

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

Still sick sick sick here. Little Monkey was up all night, lord knows why, but after about 2 hours I did notice his little crib aquarium which soothes him to sleep, was all messed up, dying batteries. Dh didn't see the big deal, but this is the 2nd night this week and he seems just fine. Just his aquarium is not as soothing as usual. So at 3am I made dh change the batteries - LOL (I couldn't figure it out). After being up 2 hours he still screamed a good 15 minutes before he finally fell asleep - oy vey.

Just hoping batteries will solve that problem.

I know he has not been feeling 100% but the last 2 nights he woke up he was just full of beans and wanted to play. On the other hand he has been sleeping perfect for 3 months. At one point in time I was used to no sleep, but these days, not in the least. I can hardly imagine anything worse than my sleep being interrupted!!!! Lack of sleep is my kryptonite...

Big Monkey was dry heaving this morning. Everyone was asleep when I finally felt like I had gotten enough sleep and should really go to work. But not long after dh called to say he had woken up and was not feeling so hot.

I hadn't taken lunch to work because today was so hectic. But went to one client, and then dh called to say he threw up. So I moved my other appointment before noon and got it out of the way (I was not getting all dressed up again this week - LOL!). So went home and ate leftovers for lunch.

(Reminds me I found another dress for tax season that suddenly fits again - woohoo).

The kids seem okay but dh is miserable. Kids are napping but I am so exhausted I can not get any work done - just too many distractions. Did laundry, dishes, etc. OF course if the kids sleep until 5 I will feel bad, but I just can not start to get sucked into something just to be interrupted. Like all day Monday. I give up. Taking a big break today. I might just have to work Sunday... I would work after the kids go to sleep at 9 but I am so exhausted I will probably crash at 9 too.

I am still scared to go to the store and don't want to try a big fancy dinner. I think we will either find leftovers or I will make mac n cheese or something. I am not sure about dh - he can probably fend for himself I guess...

Day # 3 of me cooking- my poor family - hehe. I am thinking scalloped potatoes (box) and hot dogs or something...

Ooooh - I think we may have some canned salmon. I like to mix those with eggs and blended (crushed) saltine crackers. Make little salmon patties. Brown the meat and serve with apple cider vinegar - so yummy. Maybe canned peas to round it out. It's my mom's recipe, I have been playing with adding veggies and spices, but I think tonight I will do the lazy version. Wink Dh hates fish so its a good night to indulge in something the rest of us enjoy. Beats mac n cheese I guess...

Posted in Spending, RECIPES | 1 Comments »

1 Responses to “No Spend Day”

monkeymama Says:
January 23rd, 2007 at 10:30 pm 1169591411
1169591411

Lucky Robin's recipe so I don't forget!!

3 6 ounce cans of pink salmon
3 scallions, chopped, both white and green parts
2 jumbo eggs
3 tsp minced garlic (from the jar)
1/2 cup parmesan cheese (not from the green can, freshly grated)

Mix it all up, form it into patties, fry in olive oil over medium heat (turning once) until done. Simple, easy, took all of 5 minutes, if that, to prepare and not much more than that to cook.

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

No Spend Day

1 Responses to “No Spend Day”

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