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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 @ 1/1/25)
...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

[ ]$10,000 to savings
...($0 @ 1/1/25)
...$1,000/month, plus interest
...Topping off with snowballs

[ ]$5,000 to investments
**STRETCH GOAL $7,500**
...($0 @ 1/1/25)
...$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 @ 1/1/25)
...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.

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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

Camping

July 26th, 2011 at 03:40 am

Nope, I didn't change my mind and go camping. But, the fam did go without me.

Sounds like they had a blast.

From a frugal standpoint, doesn't get much cheaper than a camping trip. But look at that amazing beauty! This is just a couple hours from our home - in the Sierras.

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I can't believe that summer has only 2 weeks left! I kind of equate summer with slowness, because work is pretty quiet this time of year. BUT, I suppose it's nice not having to deal with *school* stuff 2 months of the year.

When the kids are older, we might appreciate the short summers, but for now - it just goes by way too fast!

Seeing the pictures reminded me that we promised BM to go back on that big hike by family camp. Probably something we will do in September. We have time this weekend, but after being so ill for an entire week, I hardly feel up to anything like that.

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Next weekend will probably be a *take it easy* and stay close to home kind of weekend.

Weekend after that we are planning a little vacation in San Jose. Nothing really set in stone - but several things we want to do. Maybe a day trip to the beach, or a hike. A day at the water park, etc.

Our anniversary is 2 months away, so we should probably think about booking a room in Napa for that weekend. Was what we decided to do (something different and pretty close to home). Well, I better start figuring something out!

Heck, our Napa trip is about 2 weeks before our So Cal trip. Best get that figured out, too.

Posted in Just Thinking, Vacation Lifestyle | 2 Comments »

2 Responses to “Camping”

PNW Mom Says:
July 26th, 2011 at 04:46 am 1311652015
1311652015

Is your summer short because your kids start school in mid Aug? Around here kids get out around June 15th and go back day after Labor Day. I like it that way as in the Pacific NW, June weather can be dicey and it's nice they don't start back until later so we can enjoy some real summer weather even in Sept. Our "summers" typically (weather wise) don't start until July 5th BTW....beautiful picture
MonkeyMama Says:
July 26th, 2011 at 03:21 pm 1311690114
1311690114

More like the first week of August! The school takes a LOT of time off for the teachers to collaborate, etc., so they make it up by only taking 2 months off for summer.

I am used to the mid-June to Labor Day summer (no school), personally!

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Camping

2 Responses to “Camping”

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