Mid Year Goal Review

OK, June is half gone and so the year is half gone too. What? How did that happen?!? I figured it was about time for a mid year goal review. My 2009 goals I set last December were these:

1. Pay off HELOC by June 30, 2009
2. Grow emergency fund to $8K by December 31, 2009
3. Lower mortgage principal balance by $6K before year end.

Goal #1 - done! Yay!

Goal #2 - $8K, huh? Well, at the end of June the fund will still be around $2.5K, if not a bit more (whatever I can scrape into it this month!). That means I need to add a little over $5K to this fund before the end of the year. I still think this is achievable. Both Chuck and I have three paycheck months coming up before the end of the year which will definitely help. So we should be able to put an average of $1000/month into the emergency fund and still meet this goal. It will be my own personal little challenge to have more than $8K into the fund before year end.

Goal #3 - $6K! On track. Definitely on track. I just received our June statement and so far we've paid over $3200 in principal this year. We're averaging over $550 in principal a month and plan on keeping this pre-payment schedule up through at least the end of this year. That should give us more than a $6K principal reduction before the end of the year. Yay! We need that if we have any hope of re-financing any time soon.

I'm considering adding some more goals relating to the basement fund and new car fund. But then I want to focus on the emergency fund so I'm unsure. Basically I'm waffling. But hey, at least I'm on track to meet these goals!