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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. 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.

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
...($230 @ 8/31/24)
...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
MM YEAR 5

DL YEAR 1 ✔
DL YEAR 2 ✔
DL YEAR 3

[ ]$10,000 to savings
...($7,749 @ 10/31/24)
...$1,000/month, plus interest
...Topping off with snowballs

[ ]$7,500 to investments
...($4,786 @ 10/31/24)
...~~$350~~ $400/month, plus snowflakes
(Snowflakes: credit card rewards and dividends)
...Topping off with snowballs
...Note: Bumped up to $400 9/1, re: reduced food expenses

[ ]$2,025 to mortgage
...($0 @ 10/31/24)
...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% @ 10/31/24)
...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 @ 10/31/24)
...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>
2023: +$ 90,000
TOTAL: +$570,000

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

Economy Related???

December 12th, 2008 at 10:36 pm

We tried to eat out but the restaurant we chose was closed for insect/rodent infestation.

Not surprised - the place is kind of a mess. But we love it so much. At what cost? Makes you think.

So yeah - that in itself - NOT surprising. It's not the first time.

I know - WHY do we eat there?

So we went over to TGIF after heated discussion.

That's fine, but they were under warning for food violations too.

What's up with that??? IT was on the same street.

Is it more risky to eat out when the economy is down?

Favorite appetizer - no longer offered.

The kids' menus were crappily photocopied on white paper.

I was SHOCKED the parking lot was PACKED. Must have been for other reasons. (Other neighboring buildings???????). The place actually was pretty empty, for lunch. More what I expected.

But I got in a good walk because there was nowhere to park.

Well, we had a nice lunch in the end. Was just interesting.

Posted in Just Thinking | 10 Comments »

10 Responses to “Economy Related???”

Ms. Pearl Says:
December 12th, 2008 at 10:54 pm 1229122490
1229122490

I drove past a Red Lobster last weekend and I bet there wasn't one empty parking space. It was packed. I just wondered to myself how many of those people in there were paying with credit cards. It made me sad.
lizajane Says:
December 12th, 2008 at 11:08 pm 1229123298
1229123298

I think the same thing every time I go past the big chain restaurants in the closest city. They are all packed, and I just think to myself how it doesn't LOOK like the economy is all that bad for these people. Of course, it may be their one trip out all year, but somehow I doubt it.
gruntina Says:
December 12th, 2008 at 11:47 pm 1229125621
1229125621

This is weird for me! I have been going out on a few dinner dates with my husband the last few months. Before that it was so rare for us to go out at all.

I think it is because we still have the same saving habits and the price of gas has gone down as well as the prices for our basic shopping needs. So we have more wriggle room during these times. I guess it is backwards to us when it comes to the economy. I notice that resturants in our area is semi-packed as well.
dmontngrey Says:
December 13th, 2008 at 12:00 am 1229126456
1229126456

We went to TGIF last Friday. It was busy, but far from packed. Around here on a Friday or Saturday you usually have to wait quite a while for a table. Not the case this time.
monkeymama Says:
December 13th, 2008 at 12:56 am 1229129774
1229129774

I was commenting more on the health code violations more than anything.

BUT...

Our city has been hit hard. I think everyone was eating out and paying with their homes before. Last year you could not eat out like anywhere without waiting for hours. Now, state can't honor its contracts, lots of layoffs, loss of hundreds of thousands of equity, so it's been opposite. Empty restaurants, obviously hurting, and lots of closures.

& apparently, more health code violations...

We were also getting way awesome coupons for a time, when the hurting first hit, but those have dried up. Too desperate for coupons even, it seems.

Anyway, we have definitely noticed one extreme to the other. My friends who thought we were so deprived we could not eat out much are homeless and broke, and we have been eating out more because of the abundance of 2 for 1 coupons for a time. Funny how things change...
whitestripe Says:
December 13th, 2008 at 02:05 am 1229133949
1229133949

lol (about the friends thinking you guys are deprived) look who gets the last laugh then, eh?!

Hmm yes, sometimes it is funny when you KNOW a place is a bit of a mess but you still go there. I used to work in a restaurant that was the same. Young kids working there, not much cleaning getting done. Boss too slack and lazy to buy regular pest baits. Never knowing how old the seafood is (ew!) etc. The cook leaving the bolognaise out over night to 'cool'.

And yet, I still occasionally go there. It is odd, isn't it? It's like we conveniently erase it from our minds for the hour we eat there, and then start thinking about it again after we've finished and paid for the meal...
homebody Says:
December 13th, 2008 at 02:32 am 1229135578
1229135578

In the paper today, a 17 year in business Mexican restaurant closing due to the higher cost of ingredients and less cutomers here locally.

We rarely ever eat out. However, DH just called from Redding, CA and said the line was so long at In and Out Burger, he was giving up (on a business trip). Instead of staying in a hotel, he is crashing at his brother's. That is his contribution to our new frugal budget (which I am working on tonight).

I made a crab omelet for dinner with leftover crab DH was given yesterday. He had most for dinner last night, with just enough left for an omelet for me.
baselle Says:
December 13th, 2008 at 03:33 am 1229139217
1229139217

That is interesting - if the city was hurting, you would think they would be laying off inspectors, and those inspectors left would have more restaurants to check, so if the % of bad restaurants is unchanged, the inspectors would be less likely to find bad restaurants. Finding more means ... eew.

And the packed parking lots w/no customers inside. Is the restaurant next to the mall and taking on overflow? Or is it that every car has only one driver?

The lunch places here in Seattle are a bit thinner also .. it might be me though. I'm digging on how much longer I can go between ATM runs when I bring my lunch in, so fewer lunches out.

Mysteries, mysteries....
Analise Says:
December 13th, 2008 at 05:40 am 1229146842
1229146842

My dh and I eat dinner out about 3 or 4 times a month, and I've noticed that things are very different... it's weird. Our favorite restaurants are secret "divey" ones we've been going to for years (good inexpensive food, unimpressive atmosphere) but we often had a wait to get in... no more. The exception: we went to Chevy's a few weeks ago and it was hopping... no sign of recession that day.

Prices are also creeping up @ some restaurants, including our favorite Pho house... no longer is a bowl of noodle soup a $3.75 bargain, it is now $5.75. Several closures, too. I think it's definitely a sign of the economic times.
Joan.of.the.Arch Says:
December 13th, 2008 at 02:59 pm 1229180352
1229180352

Like gruntina and monkeymama, my husband and I have been going out to eat more, not less. I think we started that in May. Don't know why. Our favorite places put their effort into their food, not their decor. So the tables and chairs may be 35 years old; the table cloths may be scissored lengths of vinyl; the walls may be covered in cheap wood-like paneling. The china is heavy, plain, white, also at least 35 years old. A five minute walk away is my favorite place for eggplant Parmesan for just $4.95. Heaven in every bite. On the same street is my favorite place for real tiramisu and linguine carbonara. From one serving, one takes home enough leftover to serve 4 people the next meal. Around the corner and down two blocks from there, toasted ravioli. Not walkable, but still close is a hole-in-the-wall Mexican restaurant where the owner just smiles and smiles and smiles. I swear I go there for his smile as much as for the food....I only wish one of these restaurants would serve decent tea.

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Economy Related???

10 Responses to “Economy Related???”

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