<< Back to all Blogs

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.

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

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.

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

**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>
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."}

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

My Pages

Beef-Barley Soup

March 20th, 2011 at 02:35 am

We ate well tonight:

Bacon-Beef Barley Soup

http://www.tasteofhome.com/recipes/Bacon-Beef-Barley-Soup

This was a crockpot recipe. Though it was recommended to serve with mashed potatoes, we didn't see the point. (The soup had potatoes in it).

Perfect for a cold winter day!

We were also out of bacon (it had gone bad), and so skipped it. It probably tastes even better with bacon, I am sure.

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

I worked all day and plan to do NOTHING tomorrow.

I suppose I may run to Kohls, but the kind of weather will just stay holed up in side, for the most part. I will enjoy a lazy day.

Hard to believe, only 3 more weekends!!! Though it is pretty busy through April 30th, my boss has taken to paying us overtime checks April 16th the past few years. I find I am never as motivated to work the extra hours when I get paid early. Might have to work 40+ hours or even a couple of hours on the weekend, but no more ALL DAY weekends after the 16th. Until next January. Woohoo!

It's kind of funny how the stars all seem to align at crazy some years. I feel like, surgery aside, the stars aligned at non-crazy this year. & it's probably been a while since it has. As such, I can't believe only 3 more weeks.

IT's like literally everyone has issues and corrections and outstanding items, or no one does. I don't know if I ever remember such a calm and uneventful tax season (knock on wood).

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

Since I am not uber stressed out and the stars did not align at crazy, we will probably make it to Holi (Festival of Color) this year. It will depend on the weather. Will hope for some sunshine and some drying out before April 2nd.

http://www.ashanet.org/stanford/events/holi2011/index.html

Posted in Just Thinking, RECIPES, What We Eat | 2 Comments »

2 Responses to “Beef-Barley Soup”

Looking Forward Says:
March 20th, 2011 at 07:00 pm 1300647653
1300647653

You guys staying high 'n dry over there? We're getting a ton of rain here.

The soup sounds very good. I love barley.

The festival sounds like a lot of fun. I think I saw something like it on the Amazing Race a few years back. Thanks for sharing.
MonkeyMama Says:
March 20th, 2011 at 08:02 pm 1300651363
1300651363

The weather is terrible. Plenty of wind and rain.

(Note: If you were logged in, we could automatically fill in these fields for you.)

Name:	*
Email:	Will not be published.
	Subscribe: Notify me of additional comments to this entry.
URL:
Verification:	* Please spell out the number 4. [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]

Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Beef-Barley Soup

2 Responses to “Beef-Barley Soup”

Leave a Reply