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Reallocating Funds & Goals

February 28th, 2017 at 06:42 am

So since the beginning I have kept part of my emergency fund in my Roth IRA since we get the savers tax credit for contributing. On my sidebar I had been listing that money under EF instead of Roth, but as our numbers grow it is getting complicated to keep track of how much is for the EF and how much is not. So in order to simplify I am changing it. Everything in the Roth is now correctly listed under Roth, and the EF total is the only cash we carry in our checking/saving accounts. That said, if we really did have an emergency we could still pull from our Roth, but it is silly to not put the majority of our savings in there to get the tax advantages. We do also keep quite a bit of cash for other random short term savings which I do not keep track of on my sidebar that we could definitely use in an emergency as well.

For more info on why I put part of my EF in my Roth here is a good link.

Roth IRA as an Emergency Fund

A goal that I don't see happening this year is the truck fund. We used $1,000 of it for a down payment on our remodel. We had originally planned to take that out of the loan and put the cash back, but it seems silly to be paying 6% interest just to have the cash sitting in a savings account. Husband is also wanting to focus on the remodel and has not been contributing faithfully to the truck fund this year. He says he can get a couple more years out of his car. So, we will continue to contribute to the fund, but it is on the back burner for now. No way it will get to $3,000 this year. We would like to have enough in there so that if something did happen to our of our cars we could afford to pay cash for a beater at least.


Home remodel is going well but money is getting spent quickly. We are up to around $11,000 already. It is so nice to see things getting done on the house though. Especially long lasting changes like siding and foundation repair.

With my payday today I sent $80 to the IRA. I will be getting an "extra" paycheck next month and will have $450 to put towards something. Perhaps the IRA.


Puppies are getting their shots this week, and will be ready to go to their new homes in just 2 weeks. :'(

My goats will start having babies this week!

2 Responses to “Reallocating Funds & Goals”

  1. rob62521 Says:

    Hope you took before pictures of the remodel so you can compare with after pictures. It is exciting to get stuff redone.

  2. alice4now Says:

    Sounds like some smart moves in both saving and spending.

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