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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

Skip the Shopping Cart

January 12th, 2020 at 03:30 pm

I know I have shared in the past that I don't use the shopping carts at Target. Nor the baskets, most the time. If I can't hold it in my hands I don't need it. (Unless it's a very specific trip for more items or something larger). I have sometimes looked ridiculous and been asked if I need a basket, but it was worth not being tempted to spend more money.

So I felt, "Exactly!" when I saw this article yesterday:

https://www.tasteofhome.com/article/shopping-cart-size/

There's a reason you can't leave Target without spending more than you planned—blame the shopping cart.

One of the very first shopping carts, invented in 1937, was simply a metal frame that held two wire shopping baskets. Eventually the design evolved to one basket, and the nesting capability was added for easy storage. The first shopping cart baby seats were added in the 1950s. For the next several decades, the shopping cart design remained the same—except when it came to size. The average shopping cart has almost tripled in size since 1975. From a stack of two hand baskets to the gigantic carts we see today, why the change?

Bigger Carts Lead to More Spending
There are a couple of theories out there as to why shopping carts have gotten bigger and bigger: wider shopping aisles and larger shopping budgets are leading people to buy more goods and groceries. But there could be a more subliminal reason: to trick the consumer into spending more. Marketing consultant Martin Lindstrom told Today that when the shopping cart was doubled in size in an experiment, shoppers would buy 40% more merchandise.

I had figured out that a shopping cart makes it way too easy to buy crap that you don't need. I had never really thought about how they make the carts bigger so that you can add more. It's kind of fascinating how much that works psychologically.

Skip the shopping cart next time. It really works.

Posted in Just Thinking | 7 Comments »

7 Responses to “Skip the Shopping Cart”

disneysteve Says:
January 12th, 2020 at 06:48 pm 1578854934
1578854934

I don't doubt that, but also stores are far bigger and carry a far greater variety of merchandise than they used to. Simply put, there are more things you can buy in a store today than in a store in 1950. Target is a perfect example. It sells clothing for all ages, baby supplies, electronics, books, toys, greeting cards, stationary, school supplies, sporting goods, auto care, home maintenance, and also has a full grocery store, among other things. Back in the 50s or 60s, you needed to go to 5 or 6 different stores or more to get all of that stuff. So sure, you may be buying a lot more at one time, but you're probably doing a lot more one-stop shopping.
creditcardfree Says:
January 12th, 2020 at 07:14 pm 1578856473
1578856473

Probably true. And honestly unless I'm getting groceries (regardless of store) I don't usually get a cart. I often look around when we buy groceries and notice our cart (even when girls were at home) was less full than others. We buy fresh, less processed food and stick to our list based on needs and a meal plan.
rob62521 Says:
January 12th, 2020 at 08:16 pm 1578860219
1578860219

I'd say you are exactly right. Our Kroger has the little carts as well as the big ones and unless we are buying water (DH takes a bottle when he walks), we use the smaller carts. More of a challenge to buy lots of stuff.

I do the same in Target...don't get a cart because I don't want to be tempted.
SavingBucks Says:
January 13th, 2020 at 12:44 am 1578876278
1578876278

I usually try to walk to my local Target. and bring two bags with me. The amount I buy from there has decreased significantly.
Lucky Robin Says:
January 13th, 2020 at 02:21 am 1578882118
1578882118

Maybe that is true for people who don't have the self-discipline to say no to their unplanned for wants. I write a list and I stick to it. I will get a big cart even if I could fit everything in a small one, because leaning on the cart helps me walk. I am not tempted to fill it. I also shop with cash so can't just pay for whatever I want with credit. Credit can lead to overspending at the store. If it is not on the list it doesn't go in the cart unless it is a need I forgot about needing (like cream of tartar for a recipe) and that is rare. I really think planning and lists are key. And not shopping when you are hungry, exhausted, or upset about something. This is as true for regular items as for food. Will power goes away when we are hungry, exhausted, or upset.
CB in the City Says:
January 13th, 2020 at 02:20 pm 1578925214
1578925214

I don't worry about the size of the cart I use. My real problem comes when I have to carry my groceries upstairs, so I am circumspect in what I buy. It has to fit in two reusable bags.
Debt-free by Thir-ty Says:
January 15th, 2020 at 01:05 pm 1579093525
1579093525

We literally have a Walmart 2 minutes from our house, so I'll often stop by for a few things. I noticed a month or so ago that the small blue baskets had disappeared. It's super inconvenient because I don't have a big enough list to want a full cart, but it's often just enough to be too much to carry. I keep forgetting, but when Toys R Us went out of business, I'd bought 4 of their hand baskets. I need to keep one in the car and just carry it in with me.

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Skip the Shopping Cart

7 Responses to “Skip the Shopping Cart”

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