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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.

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

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

Life is Speeding Along

January 29th, 2013 at 08:24 pm

I can't believe January is almost over. Total insanity!!

**Today I tackled the chore of closing an old Ally account. I believe I was keeping it because it was a money market account with checks, but I probably haven't written a check from it in several years. Easier just to close it and be done. I have another Ally account, so this is just some housekeeping and consolidation/simplifying.

I unfortunately need *two* savings accounts at each of my credit unions. That is the one annoying thing about CUs. BUT, the minimum for both is like $1/no fees ever. So, this only leaves me one for-profit bank to keep an eye on with minimums and fees and such. Not that I don't have to read all the CU Fine print - but I am definitely more lax with the CUs.

Anyway, because I started with a MM Ally account and then eventually moved most of it to another type account, I had two savings accounts with each financial institution I bank with. But as of today, that is no more. Phew!

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**Blockbuster is closing their local store. Dh is very bummed about that. I wonder if this means we can just go 100% to netflix. {We get several benefits with BB having been grandfathered forever ago, but most those benefits have to do with being able to pick up videos and games in store, any time. Very convenient. We just do this + Netflix streaming}. I know before that Netflix charged more for Blu Rays, which was a deal breaker. But, I think it will be cheaper and most our BB perks are to vanish in the next month or so.

Well, will have to discuss with dh. Plus, we picked up a pile of dirt cheap movies last time another store closed and they were selling off inventory at our location. So, this will be a good money-making opportunity if is like last time (buy dirt cheap to sell on Amazon).

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**That reminds me, will have to update my snowflake page for this month. Of note, got a $16-off coupon for our grocery store (new rewards program) and received $68 credit from CU Visa (1% of 2012 purchase).

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**My Money Blog and Mr. Money Mustache both had good posts today (or last night?). I am far too lazy to link, but see the links on my sidebar to their respective blogs...

MMB was about indexes beating hedge funds and MMM was just the usual.

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**SO, my 9yo has never had a security blanket, but he is in love with his sleeping bag. We were watching a TV show the other night where this person was like wearing a sleeping bag? Dh and I both look at each other and were like, "Um, is she wearing a sleeping bag!?!" We both immediately thought of BM.

Poler sells one of these beauties (called a Napsack). It is only $130. Wink The child size is $69, but would maybe fit my eldest for about 5 minutes. IF that. Today I saw another type for $50 on Amazon - bigger kids sizes.

The napsack is basically a sleeping bag with arm holes (that zip up), a hood for your head, and a drawstring for the bottom. We considered getting the $69 version as I don't think drawstringing the bottom really means much if you just want to wear it around the house. The other version was like a giant onesie - LOL. It needs one improvement - zippered feet - then maybe I would be sold. $50 kid sized on Amazon. Is totally fine around the house, so might get, but doesn't make a lot of sense to walk around outside while camping and get mud/dirt on the bottom of your "sleeping bag."

The kids both need new sleeping bags, so I'd consider the $130 ones. BUT, BM is hard on his stuff, so I don't know.

I hope these take off, because I want more choices. Big Grin But, it is so "OMG MADE for my son" that we will probably just buy one. His birthday is in July - it will not be a useful post-annual-camping trip or summer gift. We don't buy the kids much, so I don't mind a splurge.

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If you are easily offended you should sign off now. BUT OMG - dh was showing me this video and it is hilarious. (Lots of F Bombs, and other assorted words).

I can't resist sharing it because it is a pro thrift shop/frugal song. But you have been forewarned:

http://www.youtube.com/watch?v=QK8mJJJvaes

As vulgar as this song is, they have a really beautiful pro-gay song too. I think it is called "Same Love." These two videos/songs are kind of polar opposite - but both rooted in some basic common sense, which is why my dh was really digging them.

Posted in Just Thinking | 10 Comments »

10 Responses to “Life is Speeding Along”

Petunia 100 Says:
January 29th, 2013 at 10:48 pm 1359499721
1359499721

Thanks for the warning, will give them a look at home tonight.
littlegopher Says:
January 29th, 2013 at 11:02 pm 1359500549
1359500549

My oldest came home from college for a visit in Oct and introduced it to us. I think it's fun, if not too appropriate!

I work in a middle school, and a tenor saxophonist in the 6th grade band plays the intro perfectly, and the kids all giggle every time he plays it. For kicks, I thought I'd look up the lyrics - oh my, what I didn't know, wasn't hurting me Oh well, still like the song!
ceejay74 Says:
January 30th, 2013 at 01:03 am 1359507816
1359507816

OMG, MonkeyMama, that was "F&(#$ing awesome."
Petunia 100 Says:
January 30th, 2013 at 02:01 am 1359511312
1359511312

That was funny, even with the unfortunate f bombs.

I like "Same Love" too. Very touching.
Looking Forward Says:
January 30th, 2013 at 04:28 am 1359520139
1359520139

Thanks for the link!
I heard this song on the radio before and was laughing (love the.."ask your grandpa can I have his hand-me-downs"..) watching the video was even better.
Swimgirl Says:
January 30th, 2013 at 04:33 am 1359520407
1359520407

"No for real, ask your grandpa, can I have his hand-me-downs?"

My college-age kids LOVE this song. Fans of the thrift stores, too...

Haha! It's so "f-ing awesome!"
LuckyRobin Says:
January 30th, 2013 at 06:09 am 1359526181
1359526181

Do you know about Gamefly? It's like Netflix, but for video games. We only use it during the summer because the rest of the year there's not enough time to get our money's worth out of it, but if you play a lot of games or want to keep them out as long as you want, it might be worthwhile for you.
MonkeyMama Says:
February 1st, 2013 at 08:05 pm 1359749154
1359749154

@littlegopher - LOL. My spouse was like, "Don't you think the word *vulgar* is strong?" I said, "Um, no, because he said this, that, and this." He quickly conceded. But I am one of those types blissfully unaware to lyrics most the time. I am not sure I'd catch on to all the words if not seeing the video and lip reading a bit.

I am curious about the radio version - was this like satellite or did they bleep the heck out of it??

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Life is Speeding Along

10 Responses to “Life is Speeding Along”

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