Okay, so I have always maintained that it is best to keep evaluating the plan you are working in order to reach your goals. In so doing, feel free to change your plan, if need be.
Never blindly, go forth on a plan that is not doing what you want. Or even, continue down a path that at one point felt like the right thing to do, yet now no longer does.
I have made a change in one of my targets, and in so doing altered my plan. Let me elaborate.
As I have said before, I keep $1000.00 in my Main Account at all times. That is my Personal Overdraft. I am not changing that.
My Mid-Term Account is my Personal Line Of Credit, and in there I want to keep 2 Years Worth of Living Expenses.
This is the Target Amount that I have increased. I have increased this by a third so as to add a bit of extra cushioning and make the number a nice round number (why not).
In doing this, I am now about half-way to that new goal (or will be, come the payday on the 7th).
So, I have decided that since I have at least something in my Mid-Term Account, I can relax just a bit and focus on paying off that Low-Interest Credit Card, the one that I have been racking up.
After that is paid off (estimated to be done by July 22) I will then resume working towards putting my newly increased target amount into my Mid-Term Savings Account.
After that I will start on the long trek to putting my target amount into my Long-Term Account.
Somewhere in the last quarter of this year I will put the last of the money that I have to into my RRSP *spit*.
I do prefer to be totally debt free, but I wanted to have at least a bit of a cushion, and I now do. I can now get back to what feels natural and right to me, being debt free as I build up my savings.
As always: Keep your head up, your attitude positive, and keep moving forward!
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