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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.

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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

It Pays to Ask

July 9th, 2007 at 06:07 pm

Today dh saw that they lowered the price on the PS3s, today I believe, by $100. He grabbed his receipt only to find out that the expiration on returns for his PS3 was YESTERDAY!

Anwyay, he told me today that he was going to go demand a price match or return. I wasn't very optimistic. "Good Luck," I thought. But he just called me and he said he got a $107 gift card (includes tax) for the difference. He said he was polite but insistent and they obliged. He will put in a good word for the lady who helped him. He said if it hadn't of worked he would have tried another Target later. But score one for Target customer service. It was nice they were willing to bend as he was only 1 day late. Woohoo.

Since we already have a $50 gift card in the mail (to arrive soon from credit card rewards) and kids' party is done, we decided we most likely will save it for kids clothes in the fall. They seem pretty set in every other way shape or form and nothing else I can think of we need. We have the $50 g.c. for sale items like laundry detergent, in the meantime.

Then again with $150 coming to us maybe it is time to revisit the purchase of a GPS. Something to think about. Though there is no hurry on that. We have been wanting to do some geocacheing, but I think it will be another year before LM is up to some of the hikes we want to do. Then again if we could get a decent GPS practically for free, we can start looking for some of the local cahces... Hmmmm..

Posted in Saving | 4 Comments »

4 Responses to “It Pays to Ask”

Broken Arrow Says:
July 9th, 2007 at 11:33 pm 1184024022
1184024022

Good for him! That determination just saved a Benjamin, and that's no chump change (to me).

Although the news of the PS3 price cut has been circulating for a short while on the internet.... I guess it was making the rounds to drum up more business for Sony's flagging product.

I have nothing against anyone who plays console games, but I flatly refuse to get back into console gaming. It's just way too costly and time consuming for me. Would love to in a perfect world, but sadly, I don't live there.
pretty cheap jewelry Says:
July 9th, 2007 at 11:58 pm 1184025517
1184025517

We never hesitate to ask for returns, price matching, and the like on everything from hotel rooms to food items. I'm not kidding. Even a large chain has a good deal of discretion in formal policy. I'M NOT KIDDING.

A Lowe's hardware store employee once told me they have personal ability to change the price up to 10% with absolutely no management involvement.

I ALWAYS ask.
boomeyers Says:
July 10th, 2007 at 01:24 am 1184030662
1184030662

I am surprised because Target is usually to strict! I don't buy anything from them that is not a consumable item.
monkeymama Says:
July 10th, 2007 at 02:00 pm 1184076003
1184076003

BA - We knew but I think it was official yesterday. Well at least at Target.

Boo - you are right. Why I wasn't so positive. Rules are rules - but I guess rules are made to be broken. Obviously he was at the whim of the supervisor on duty that day and he found one willing to bend the rules. I kind of wondered if the lady would of if he didn't have the baby with him - LOL. Women go gaga over that and it was a woman - hehe.

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

It Pays to Ask

4 Responses to “It Pays to Ask”

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