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About Me:

Monkey Mama

Just a 47-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. We've always saved 100% of MH's income, but we are starting to dial that down a bit in 2023-2024.

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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2025 Goals

[ ]Small monthly Charitable Contribution
...($0 @ 1/31/25)
...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 ✔
MM YEAR 5

DL YEAR 1 ✔
DL YEAR 2 ✔
DL YEAR 3
DL YEAR 4

[ ]$10,000 to savings
...($1,098 @ 1/31/25)
...$1,000/month, plus interest
...Topping off with snowballs

[ ]$5,000 to investments
**STRETCH GOAL $7,500**
...($400 @ 1/31/25)
...$300/month, plus snowflakes
(Snowflakes: credit card rewards and dividends)
...Topping off with snowballs

[ ]$1,700 to mortgage
...($0 @ 1/31/25)
...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% @ 1/31/25)
...This is the minimum for the match; I'd otherwise rather fund IRAs.

Goal savings rate = 25% of gross salary, plus funding IRAs from other sources.

[ ]$6,000 to IRAs 2024
**STRETCH GOAL $14,000 (MAX)**
...($0 @ 1/31/25)
...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 2025 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: $75,000 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>
2023: +$ 90,000
2024: +$95,000
TOTAL: +$665,000

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

I'm In Tune with the Universe Today...

October 21st, 2008 at 09:03 pm

For whatever reason.

Sold 2 strollers - $40.

People showed up and everything!!!!!!

The ironic part is I inquired about a nice bike on Craigslist - listed for $40. Came with helmet - was like new.

Not holding my breath, but I think it's funny how $40 cash materialized today. Big Grin

Person has not gotten back to me. If I can get the bike, it's a steal. Wouldn't be surprised if it was sold already though.

I just perused CL on a whim since I was getting excited about taking BM on more rides. Fall is excellent riding weather. IT just doesn't get too cold here, and if it is not raining, we have many biking months ahead of us. !!!

I know of one bike trail in the area and can't wait to take BM. I will have to research a few more...

I'll keep my eye out on CL. Dh and I both think our old bikes may be in our parent's garages. So we may luck out. I think we may need to buy helmets - even for LM and BM. So, we'll see. Maybe our Christmas gift to ourselves this year - we'll get Christmas money probably.

(My mom just informed me helmet is law for adults in Cali. Seriously? I guess we need helmets. Otherwise I Wouldn't have even thought it for dh and I).

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

Anyway, dh tried to pawn off the nice/unused umbrella stroller (was a gift) on the buyers, but as usual, no one wants it.

On a whim I called up the preschool. "Eh, they don't need a whimpy umbrella stroller. They need more double strollers," is what I thought.

Nope, she has been REALLY wanting one and almost picked one up at a garage sale last weekend. Because often she runs errands with one kid or something.

Oh, I am so glad someone can use it. I was going to donate it otherwise, which is fine. But I am so glad I thought to ask her.

& there you go - 3 strollers - gone!

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

We have an old bed taking space in the garage. IT was nice at some point but it has been moved so much and is a bit scratched up. I am ready to freecycle it. Dh wants to ask $50.

We'll try I guess.

Dh just said we shouldn't get bikes until we sell the bed.

Well, um, okay, sell the bed!!!!!

He has been resistant to it. So now I have some pull I guess. The bed is really the only thing taking up any room in the garage at this point.

(I need to do another box run at work tomorrow - may be the last - big boxes to the dumpster. I am going to try to talk dh into tearing down the TV box as well. For now it is a fort but I think it has run its course).

Posted in Just Thinking | 2 Comments »

2 Responses to “I'm In Tune with the Universe Today...”

dmontngrey Says:
October 21st, 2008 at 09:46 pm 1224621991
1224621991

lol... you just reminded me I need to discard our tv box. We held onto it to use as a base (over carpet) for our slot car track. No need now that the laminate is almost done. We plan to drag the track back out when we get bored this winter.
swimgirl Says:
October 21st, 2008 at 11:57 pm 1224629869
1224629869

There is no helmet law for adults in California. It's for children under 18. That said, certain areas require helmets for everyone. Bidwell Park in Chico requires all riders to have helmets, for example.

I don't have a helmet, though I ride my bike a lot. It's a Murphy's Law kind of thing... every time I buy a helmet, one of my kids loses/breaks theirs. So I'm just not getting one, hoping that they'll keep theirs intact!

Though it's not my favorite store, Walmart has BY FAR the best prices on helmets.

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

I'm In Tune with the Universe Today...

2 Responses to “I'm In Tune with the Universe Today...”

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