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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

Baking Day

November 17th, 2012 at 07:40 pm

This weekend marks the end of extra-curricular activities for the kids. Phew!!

Supposedly there was a soccer game today though it rained all night and morning. I doubt enough people showed up. We skipped it for other commitments. It hadn't even occurred to me the game might be cancelled except I got an e-mail that it was still on. HA! We picked a good day to skip it. If they make them play in the rain (mud) - what a mess!!

We skipped it because BM has his final robot competition today.

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

I've got some mushy bananas, and dh got a giant can of free pumpkin as a grocery store reward. So I decided to bake to heat the house again (though it is not as cold this weekend).

I baked pumpkin chocolate chip muffins.

I had scored some dirt cheap cupcake type wrappers at Michaels. They were pretty and like 50 cents for a pack.

Well, my pumpkin muffins burned on the bottom. In fact, there was all sorts of burning smells coming from the oven, which was worrying me. I saw why when the pumpkins came out.

I don't know if it is just this recipe, how hot the oven was, or if the paper is meant more for cake than muffins. What a bummer!!

I thankfully had enough plain old paper wrappers for the banana muffins. Just trying random recipes off the internet. I had the idea to add pumpkin spice to the banana muffins, but checked online before I ruined the batch. Apparently I was not the first to think of it. I still have 15 oz of pumpkin left, so might try one of the banana pumpkin muffin or bread recipes. Sounds divine! I've still got several mushy bananas. As is, I just made banana muffins with some pumpkin spice - it sure SMELLS good - haven't tried them yet - cooling off.

I have never made banana bread before. Seriously. Don't ask me why not! (We usually eat our bananas pretty well, or freeze them for smoothies later). But, since I had 6 mushy bananas... I also don't throw things away very lightly.

P.S. I turn 36 in a couple of weeks, and today someone told me she thought I Was in my early 20s (was shocked I had a 7yo child - more shocked when I told her I also had a 9yo). HA! I usually find the young comments annoying - as I get condescending comments a lot professionally. BUT I haven't got that so much lately and thought my age was showing more. I am getting more grey hairs... So today I enjoyed it as a compliment.

Posted in Just Thinking | 5 Comments »

5 Responses to “Baking Day”

PatientSaver Says:
November 17th, 2012 at 11:03 pm 1353193438
1353193438

Oh, yes! You will definitely enjoy those comments about your age when you get older!
Looking Forward Says:
November 17th, 2012 at 11:51 pm 1353196313
1353196313

Bummer on your muffins.
DH is baking choc. chip cookies right now.

Nice compliment on your age. I was carded two nights ago - Really? Can't see the grey hairs?! Maybe that works to get the server a bigger tip?
FrugalTexan75 Says:
November 18th, 2012 at 12:53 am 1353199988
1353199988

Too bad about the muffins, they sound like they'd be really delicious.

I'm almost exactly a year older than you and still get people thinking I'm in my mid to late twenties. Probably because I don't act my age.
Monkey Mama Says:
November 18th, 2012 at 02:13 am 1353204814
1353204814

Just the very bottom burned - they were still quite edible. I am pretty sure it was the paper as I tried some other paper for the "last 4 muffins" and those turned out perfect! But yes - I am slicing off all the muffin bottoms - ha!
Monkey Mama Says:
November 18th, 2012 at 02:14 am 1353204858
1353204858

P.S. Extra-curriculars are not over - the robot kids advanced to the next round!! Not expected - they did great - and I thought it was pretty cool.

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Over Prepare, Then Go With The Flow

Baking Day

5 Responses to “Baking Day”

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