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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.

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

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

Maybe $700?

November 29th, 2007 at 03:16 pm

I woke up early and so was double checking on Vegas info this mornings. Bus is still cheap as I remember but they do have a monorail. Cost twice as much BUT I know of no other way to get across the strip in 10 minutes. Sounds like QUITE an addition. The Deuce was a big step up, and the monorail sounds even better. We'll see what we think in person anyway. Interesting to see how things evolve with time. (I had no idea they put in a monorail!)

Also was checking out all the buffet reviews and such. We are huge fans of the Spice Market Buffet (Aladdin) but I think this time we'll try Mandalay Bay too. Looks similar, but better priced.

We're staying on the north end of the strip which has the really cheap buffets. So a dinner there. & then we'll dine at Fremont Street and at our favorite Indian restaurant (also very near our hotel).

I pinned down more of a $180 budget for dining and about $60 for transportation (shuttle, buses, monorail). This assumes all the info I saw online was current (not so sure). Leaves $60 for incidentals, unexpected things, and gambling. If we adjust our budget to $300. Much more realistic but I am excited to try a new buffet, and that will be for quite an amount of food. Yes, we will have to hit they gym on our return. Though I am sure we will also do PLENTY of walking.

It seems like every time we go to Vegas we spend more money. But we also enjoy more. Gotta splurge once in a while I guess. WIll be fun...

Actually we have never stayed 3 nights before, so accounts for much of the cost. Eating out is such a budget buster when it comes to vacation. It just adds up so fast and is always maddening since it is so much easier to eat way cheaper at home. I mean $180 on food? At home that's 2 weeks of food for 4 of us!! I feel like food is always the vacation budget buster. But we are certainly splurging and enjoying in this case. Just what I always find is so pricey about vacation. The food will cost about as much as our plane tickets this time around...

Posted in Spending, Budgeting & Goals | 4 Comments »

4 Responses to “Maybe $700?”

koppur Says:
November 29th, 2007 at 03:57 pm 1196351878
1196351878

Hey there. Just got back from Vegas! I have 3 suggestions for you for eating. At the Californian Hotel and Casino (at Freemont St) there is a hawaiian restaurant on the 2nd floor. The best food and so cheap! I got a HUGE bowl of rice w/teriaki chicken and mixed veggies for $5. HUGE bowls of Udon Soup for $3.00, and tons more. I highly reccommend it; we ate there twice in 4 days. LOL

Also, more expensive, but definately worth it if you like Sushi, there is a place called Makino's at the Outlet malls near Freemont St. It's $20 per perso for lunch, all you can eat sushi buffet. I know $20 is pricey, but when you figure it is sushi, it's nice and cheap.

And finally, also on Freemont St, the Mermaids casino has a Nathan's Hot Dog stand in the back on the first floor. $1 hot dogs, fried twinkies and all sorts of other goodies.

Have a great trip!
fern Says:
November 29th, 2007 at 05:16 pm 1196356577
1196356577

do you eat out 3 meals a day? maybe just for breakfast you could find some supermarket there and pick up some breakfast cereal and milk and fruit, if you have a fridge in the hotel room.

it may not sound like much in savings, but even at a pancake house or something you could probably spend $20 for breakfast, so x 3 would be worth the savings.
scfr Says:
November 29th, 2007 at 08:58 pm 1196369919
1196369919

Isn't planning a trip fun?!? I just love the planning stage.
monkeymama Says:
December 3rd, 2007 at 01:24 am 1196645054
1196645054

I didn't see all your comments but no, with the buffets about 1 meal a day suffices. Certainly no eating out 3 times a day!!! One nice meal and one cheapo is about our speed.

We wanted to splurge on dining, was the point. But I will certainly make note, Koppur, for next time.
But we're back and was fun!!!!

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Maybe $700?

4 Responses to “Maybe $700?”

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