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About Me:

Monkey Mama

Just a 46-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.

{2023 Update: I expect that MH will retire from this job when kids are done with college and/or home is paid off. I think he likes the idea of finding more interesting or full-time work, with kids both adults now. But practically, might just stick out the *good* and very flexible job as long as possible. The very part-time job is allowing him to pursue his film passions. We are only about 5-ish years away from financial independence. Would be very different if we "needed" the money or he thought he might have decades of working years ahead of him.}

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
...($35 @ 1/31/24)
...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

DL YEAR 1 ✔
DL YEAR 2

[ ]$10,000 to savings
...($4,529 @ 3/31/24)
...$1,000/month, plus interest
...Topping off with snowballs

[ ]$7,500 to investments
...($1,750 @ 4/30/24)
...$350/month, plus snowflakes
(Snowflakes: credit card rewards and dividends)
...Topping off with snowballs

[ ]$2,025 to mortgage
...($0 @ 4/30/24)
...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% @ 3/31/24)
...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 @ 4/30/24)
...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>
2022: +$ 85,000
TOTAL: +$565,000

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

Orlando Here We Come!

June 12th, 2012 at 08:59 pm

Following online airline advice, I was able to lock in awesome tickets today for about $295/apiece.

Ironically, we ended up back with United. I never thought we would get full refunds on our Denver trip, and their Florida airfare was absurd when I looked last month. So it worked out for the best. Best to get a full refund and start over, though we ended up with the same airline.

I've been diligently checking flights every so often. Today was a marked decrease in airfare, just as predicted by the travel experts. In addition, we are flying directly to Orlando. (The gap between Tampa and Orlando airfare was closing drastically - that part was unexpected).

I didn't even look at other local airports. $295 to fly from my backyard to the Grandparent-in-laws' backyard? The other side of the U.S.? I am IN! I am so pleased how we got the most convenient flights. It's at the price point where I don't care what other options there are. Backyard to backyard it is. We also got a "red eye" on the way home. Sort of. We leave like at 7pm but get home at midnight due to the time change. Another reason I made our home airport a priority. Once we land we are all but HOME.

Posted in Just Thinking | 6 Comments »

6 Responses to “Orlando Here We Come!”

LuckyRobin Says:
June 12th, 2012 at 09:48 pm 1339537686
1339537686

That's a wonderful rate for backyard to backyard flights. It looks like it really paid off for you to keep checking.
snafu Says:
June 12th, 2012 at 09:57 pm 1339538245
1339538245

I suggest you check for extra costs so there are no surprise costs for checked baggage, pillow, earphones, food, drinks, airport user fees etc.
Looking Forward Says:
June 12th, 2012 at 10:28 pm 1339540116
1339540116

Wow! SWEET!
Okay...Now you have to share "the secret". Was it just to keep checking several times a week or what?
MonkeyMama Says:
June 12th, 2012 at 11:34 pm 1339544058
1339544058

Good point - Should be no fees - we are definitely not checking baggage. We do travel fairly often, so am well aware of the nickel and diming that comes with flying, and am practiced in avoiding said nickel and diming.

The rules I saw were to buy 3pm EST on Tuesday, but no sooner than 3.5 months before trip (& not last minute either, of course), and to search for tickets in groups of one or two tickets versus full party. First two tips helped; last one did not matter. I could have maybe benefitted to wait another week or two, but prices suddenly dropped today and I would like to get hotel settled (dependent on flights). Oh, other tip was to fly Saturday, which is more true the closer you get. Last week Sunday flights were cheaper, so it might have been prudent to buy 4 months out if we were set on staying one day longer.

Stumbled upon google.com/flights which is AWESOME. My tried and true method is to find cheapest flights at a site like the google one, and then buy directly from airline. Which is basically what google does - it directs you to purchase directly from the airline. It seems like it's been best to cut out the middle man for many years, with the exception of something like priceline (er the airline equivalent?) where you don't know the airline until after you commit. I don't like Priceline and all that so didn't go that route.
MonkeyMama Says:
June 12th, 2012 at 11:51 pm 1339545118
1339545118

@LF - P.S. I think we are just lucky Orlando flights are cheap from California. Honestly, it often comes to the place (& if it happens to be a hub for an airline).

I do also always consider other airports, which greatly lowers the price. SFO, SJ and Sac can have drastically different prices for same destination. Tampa is at times much cheaper to fly into than Orlando.
Looking Forward Says:
June 13th, 2012 at 04:03 am 1339560214
1339560214

Thanks for sharing those tips!

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Orlando Here We Come!

6 Responses to “Orlando Here We Come!”

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