Starting additional savings.
by, 01-23-2009 at 09:58 AM (1148 Views)
While i have an EF, after some discussion on the board yesterday, and the uncertain future of our economy, I'm going to increase savings. I'm going to mess up the order of things a little bit, and start on our 6mo EF.
I have Baby EF. $1000 won't go far. So I'm working on it.
My first goal is to put 3 mo of mortgage payments.
Yesterday I opened the Tax free savings account. I transferred $65 into it. Next week I'll add a little more. I have set up a regular $200 contribution to it. In the regular savings, I'm setting up $240/mo to be transferred to it as well. Not a huge amount but a great start.
I'm going to gear up to do a craft sale this spring, which should bring me $1000 or so to toss in there as well.
I do need to look at RRSP for myself. Dh has some. I've been so paranoid with the markets, I think I'm going to do just a small contribution for now, to a guaranteed return as I am just not sure about markets, we had one lose 75% this year! So I'm not to confident. Maybe bonds or something.