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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.

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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

Citi

November 18th, 2011 at 11:03 pm

Well, Citi did absolutely nothing to make me warm up to them.

I e-mailed them to close my card today, and it was literally closed within one minute.

The only reason I know is I then went to plastic jungle to sell some gift cards, and they asked me for a credit card #. To verify my identity. Rolleyes I was aggravated, so decided to use the card that would be closed by the end of the day. Except it wouldn't work and just caused problems. I checked my e-mail. CLOSED! ALREADY!

Dh called and closed his Citi card. They begged him to stay, but decided to stop giving him cash rewards for stayinng just one more month. They didn't offer anything useful. I am just glad to get the card closed.

Not sure what it is but they were like kissing dh's feet the whole time, and offered him the moon. Me? They just put up with me and are happy to be rid of me. So, just leaves me annoyed. I believe that is the only Citi card I ever had. Chase - sure - I am no longer banking with them in any capacity (no more chase credit cards), but they did shower me with rewards and give me everything I asked for. It bodes well for the future - if they ever have a credit card that fits my needs, again. Citi? Meh. Who needs them? It probably pays off in the long run to have a little more customer service. Even if it means no difference in the short run.

That said, besides messing up my plastic jungle scheme (to not give them a REAL credit card number), I do appreciate how fast and simple it was to close the card. Easy Peasy!

I'll e-mail Chase tonight to close dh's 2 remanining Chase cards.

Tomorrow I will mail all these gift cards to Plastic Jungle - they will mail me a check for $182 in return.

All that should be left is to redeem my AmEx Gold rewards in about one month time, and close that card too. It's the only one-time reward card that I (and dh) should have open by the end of the day.

Usually the only *annoyance* factor for these schemes, for me, is having to close the cards. (Keeping them open would be infinitely more time consuming and annoying. I prefer to kill the card once reward is redeemed - never have to think about it again. Ever). With these e-mail systems, the *annoyance* factor is virtually eliminated. Which makes this super crazy easy money. Didn't even have to sit on hold with the credit card company. Reminds me, AmEx even let me activiate my card online. NO SALES SPIEL. Love it!

Posted in Just Thinking, Credit Card & Bank Rewards | 1 Comments »

1 Responses to “Citi”

LuckyRobin Says:
November 19th, 2011 at 09:16 pm 1321737385
1321737385

I've never liked Citi and that goes back 22 years, when I was working full time and going to community college full time and earning scholarships so I wouldn't have to rack up college debt. All of my friends who were going to the university instead and were not working jobs and had taken out student loans were getting Citi cards left and right, and there I was with an actual income, no loans, no rent as I was living at home, and a year of credit history under my belt for having paid off my Sears and Penney's cards consistently, and they wanted nothing to do with me, because supposedly community college students were inferior (even though the majority of them transferred after two years with higher grades). Go figure.

So you, of course, who make a decent income, are ignored while they beg at the feet of your DH, who is a stay at home parent. Sounds like business as usual for Citi to me.

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Citi

1 Responses to “Citi”

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