Wednesday, April 18, 2007

E-fund update and the sin I committed

Look to the side bar and notice the e-fund is at $327.00. I used the excess money to pay down a cc. I know it goes against conventional wisdom (forgive me for I have sinned) but here is my argument. The e-fund had gone past my original goal of $1,000. The cc that I paid down now has a balance of less that $1,000.

The e-fund will get a deposit of $100 tomorrow and one next Wednesday. I will update it then to show the balance of $527.

* The e-fund does not include my CD of $400.* The CD is not included in my calculation of the e-fund because the money is tied up and is not readily accessible.

4 comments:

3 Things About Money said...

Hey, I think paying off your credit card is a Very Good Thing - congratulations. Having the money in the bank at 5% while the CC interest is way more just doesn't make sense.

Just Me ! said...

diddo

Bklyn Diva said...

I think you did a good thing by paying off some of your debt. don't beat yourself up.. efund is that.. for emergencies

Ms. MiniDucky said...

No no, I think that it's a Sin when you use that money unproductively, not when you've knocked some CC debt down AND bought yourself a sense of progress. Plus you're already building it back up, and that's good too!