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September Goals

August 28th, 2013 at 09:40 pm

I've been thinking about what I want to do for September, since we'll have the extra paycheck.

I've decided to try to get the Emergency Fund to $7300, which would be $1000 from the extra paycheck, $100 for the regular monthly deposit, $40 from the four $10 Thursday deposits, and then scraping up the rest, $115.08, throughout the month. I want to get the January Money Fund to $1500. And I'd like to have at least $500 in the Moving Fund.

The mortgage is at $9965.09, so I'll likely try to get that below $9K as well. I had thought about throwing the whole extra paycheck at the mortgage, but decided I'd rather build up the other funds first. I just feel better with a more substantial EF. Once I get it to $10K I will feel a lot more secure about focusing on other things.

Not 100% sure what we'll do with the OT paycheck at this point, but we'll cross that bridge when we come to it. It would be nice to save the whole thing in the EF, but I don't think that is practical.

On the laptop front, I have $1800 in the laptop fund. We have actually purchased the laptops for the kids using the 18 months same as cash feature and I will be paying it as it goes along, even though I have the money in the bank. I figure I might as well collect the paltry interest. And I can always pay it off free and clear if the need arises. We won't take the full 18 months to pay it off, though.

DH is continuing to baby along his laptop. If it comes time for him to get a new one, I will pay off the kids' right away.

4 Responses to “September Goals”

  1. imarunner Says:

    nice goals for september. one question, where do you keep your emergency fund? at a local bank or an online bank with better interest?

  2. imarunner Says:

    i just clicked around your blog and i think it's at a local credit union? is the rate there good. i wouldn't know where to find a credit union in my area. weird, never thought to use one.

  3. rob62521 Says:

    You continue to make great progress!

  4. LuckyRobin Says:

    I keep $2000 in a local credit union. The other $4000+ is in an online bank. I figure that having one account I can access sooner in an emergency is worth the trade off for a lesser interest rate. For me, the EF isn't about making a profit on interest, though, it's about security.

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