tag:blogger.com,1999:blog-7227645027272227379.post209224724876781807..comments2023-05-27T06:34:19.996-07:00Comments on The Simple Life of the Boreings: 2009 Financial GoalsAnonymoushttp://www.blogger.com/profile/07474049559814860383noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-7227645027272227379.post-82731748730947860432009-01-20T11:00:00.000-08:002009-01-20T11:00:00.000-08:00We have discussed saving up money instead of payin...We have discussed saving up money instead of paying towards extra principal. Since our goal is to make only a small principal payment each month (like $100) we are going to go ahead and do that. We do have an emergency fund in place, it is not a fully funded 3 months YET, but we are focusing on building that up, so if something did happen we still would be able to pay our mortgage.Anonymoushttps://www.blogger.com/profile/07474049559814860383noreply@blogger.comtag:blogger.com,1999:blog-7227645027272227379.post-83928993963038051692009-01-11T22:42:00.000-08:002009-01-11T22:42:00.000-08:00I like your goal list a lot. Definitely, making wr...I like your goal list a lot. Definitely, making written goals and posting them is a great idea.<BR/><BR/>I would consider one thing about the extra mortgage payment: Rather than making the extra payment, it might be worth while just putting aside the money for that payment into a dedicated account (escrow or sinking fund)for now until you have maybe a year's worth of mortgage payments in cash in the bank. Then if something happens to your income, you know you have a year's worth of money put aside to pay the mortgage, which is a very nice cushion! The thing is, if you make an extra payment and for whatever reason you aren't able to easily pay the next month's mortgage, you don't get to *not* pay next month's mortgage just because you already made an extra payment. I think it is worth considering making it a goal to have the cash available for the payment, but just put it into a savings account intended for future mortgage prepayments, until you have larger cash reserves built up as a couple.moociferhttps://www.blogger.com/profile/01325412523164314073noreply@blogger.comtag:blogger.com,1999:blog-7227645027272227379.post-61676412963007779792009-01-07T01:16:00.000-08:002009-01-07T01:16:00.000-08:00Rachel, Seems like great goals and I'm sure you ca...Rachel, Seems like great goals and I'm sure you can achieve it! We can do everything with a little planning and His help. :) You are right that writing down our goals help and I'm still trying to find out what I should put on my plan for the year.<BR/><BR/>Good luck! :)Anonymousnoreply@blogger.com