So, my Condo Down Payment account is gone, and my EF is above $3,000 for the first time in a long time. I changed my goal to $5,000 because I’d like to reach that amount before going traveling. I think $5k is a solid amount to get me on my feet once we come back.
The rest of the money has disappeared into my RRSPs.
So I emptied my Condo Down Payment Fund. It’s silly just to have $1,800 there. I’ll update my sidebar once the money clears into my chequing account. I am going to use $500 of it to max out my EF, and the rest is getting thrown into the black hole of my Retirement Portfolio. I will invest in 1/3 Canadian, and 2/3 International funds.
Yes, I still want to own my own condo, and it is still a huge goal of mine … but I’d feel so much better with a fully funded EF. And since I lowered my bi-weekly RRSP contributions, this $1k will help out in the long run.
Plus, my short-term goals have changed over the past year. I’m now going traveling, and I want to have a fully funded EF in place so that when I return, I will have some money to live on while I find a new job. And in the mean time, that will give me some security if I were to lose my job.
I will start to save for a condo again in the New Year. Although not as seriously as I was before, since I already have $20k in my RRSPs set aside for a down payment, and the first property I buy will more than likely be with BF after we get back from traveling. I’ll throw as much money in the fund as I can until then, but my retirement, EF and travel funds will take priority for 2009.
On Friday, I will be getting paid about $450 extra for all the OT I’ve put in over the past 2 weeks. That’s a nice chunk of change above and beyond my regular wages, so I’m really happy.
The entire amount will, of course, be going into my Condo Down Payment Fund.