Oh Dear...

We went to a home show the other weekend, and now we're getting new windows. Oops. However, we need them, and it will be SO nice to get rid of the crappy ones we've got now! It's going to cost us a pretty penny, though, as we're getting the best windows we can (they have a lifetime warranty on all the important bits...what's not to love?). We're replacing four--the ones in the kitchen, living room, our bedroom, and spare bedroom. Pretty much all of the upstairs ones except for the bathroom and one kitchen window. I'd like to do the other kitchen window, too, but it was already expensive enough and we got a deal for doing 4, so we went with 4. I'd also like to do the bathroom window (heck, I'd like to do the whole house!), but my husband says we can't do that until we renovate the bathroom. Something about rot.

So, we have to finance the windows, because they're going to cost us $12,500. I'm uncomfortable with taking on that much debt (especially because we're financing it over 10 years, because the payment is so manageable), but I'm trying to look at it as an investment. Not only will it increase the value of our house, but it should cut our heating costs. We lose a LOT of heat through the windows. I can feel a draft from the living room window even though it doesn't open. Besides, the house needs quite a few renovations, and it's nice to finally be doing something inside the house. I'm actually really excited about it. Just not the cost. Although I feel a bit more pressure to try to make money somehow.

Anyway, I thought I'd finally do an update post. So last time, our numbers were:

1. pay off my credit card-$170.12
2. replace $708.25 of my personal savings
3. increase short-term emergency fund to $2500 (so $1500 to go)
4. save $20,000 for long-term emergency fund (we currently have $5186.19, so $14,813.81 left to go)
5. pay off mortgage (as of January 28, our balance is sitting at $95,053.57)

And now:

1. pay off my credit card-$170.11
2. replace $460.76 of my personal savings.
3. increase short-term emergency fund to $2500 (so $1500 to go)
4. save $20,000 for long-term emergency fund (we currently have $4276.15, so $15,723.85 left to go)
5. pay off mortgage (as of March 11, our balance will be sitting at $94,694.78)

I did finally send off our insurance forms for reimbursement for medical expenses, so I'm just waiting for that to pay off my credit card. Also, for some reason the bank gave me back a penny, so that's why it's different by 1 cent.

For my personal savings, it felt to me like I wasn't really able to add much to it. There was a bit of interest, a bit from extra money we had after the bills were paid (but not more than $100, I didn't think), a cheque for $22.08 from Co-op (a grocery store that sends you a cheque every year if you spend enough there), a bit from having too much (if such a thing is possible) left in the account where I squirrel away money for our yearly expenses...I think that's about it. I guess it added up.

I think the increase to the short-term emergency fund is on hold for now. It doesn't seem as important in light of the other things we've got going on, although maybe I'll start sticking $25 a paycheque in there or something.

The long-term emergency fund has gone down because I took our window deposit out of it. And that's why the short-term savings doesn't seem as important--I'd much rather replenish this one as soon as possible. On top of that, we want to do balloon payments for (at least) the first two payments of our loan, to cut the interest down quickly. There is no penalty for paying it early (that would have been a deal-breaker for me). So that will mean we need to save more. Less eating out, I guess! Which is okay because my friend and I are trying a gluten-elimination diet for a month, to see if we feel better afterward. So I wouldn't know what to eat at a restaurant, anyway.