It is hot. So very hot. Why? you may ask. Because our air conditioner is shot. Back when I wrote savings goals in January I mentioned the possibility of needing a new air conditioner since our current unit is old and uses a type of refrigerant that is no longer being manufactured. Well, that day has arrived. It's 84 degrees in our house currently. Luckily the kids have been sleeping soundly with window fans and a good breeze, but It. Is. Hot.
I thought I'd take a look back at this year's savings goals since a). we're almost halfway through the year (how??) and b). we will be shifting around our savings priorities due to getting a new air conditioner and possibly furnace as well. #Adulting. Sigh.
This year we wanted to:
- Rebuild our emergency fund (~$3K) - We would have easily hit this goal this month, but now it's going right out the window to pay for our new heating and cooling system. That said, I'm so thankful that we have the money to buy a new unit in cash! If anything, everything that's happened this year has made me realize the importance of having an emergency fund. We like to have at least 6 months worth of expenses saved (5 months in an higher interest earning account not linked to our checking). To build it back up, we will likely pause our retirement contributions until it's fully funded. While it can sometimes feel frustrating to have money sitting in an account that you "can't" touch, the relief of knowing it's there for when life happens is huge!
- A fence for the backyard ($2-4K) - Sadly this one will have to wait until next summer. But that's life! And the kids have been doing really well staying in the yard (though I'm still almost always outside with them).
A new air conditioner ($4K)- We actually received a quote for a few air conditioner units that range from $2900-3700; however, upon further investigation, I realized that it probably doesn't make sense for us to install a new energy star rated air-conditioner, only to pair it with a 15 year old heater / blower. (I'm using such technical language, aren't I?) Also, if we were to purchase a new furnace at the same time as we purchase an air conditioner, they would have the same energy rating which ups their overall efficiency. And, on top of that, buying both at the same time would allow us to cash in on some rebates from our electricity and gas companies, plus Lennox, the maker of the new HVAC system. Overall, I'm leaning towards buying both now, vs. replacing the heater in 3-5 years for an additional cost. But, that makes our original $4,000 estimate more like $5400.Vacations / Trips ($1500)- We are doing well on our goal of taking more trips! In May we took a kid-free weekend trip to Chicago for our anniversary, then took the kids to St. Louis over Memorial Day weekend ($550 for both trips). Next up is a week-long Door Country trip over Fourth of July, which usually costs us about $500 with eating out and gas (we stay with Mike's family in their beautiful farmhouse).- Gardening / Landscaping ($1000?) - We got a quote last month to rip out all of our front bushes (they are so large that the removal process is closer to that of a tree than a bush); however, we decided to push back that project until we knew more about our air conditioner situation. And knowing what we know now, well, the bushes will have to wait!
- Finish Mike's tattoo sleeve ($1500) - Sigh, this one has been put on the back burner again!
Pay for sinus surgery ($1500?)- I'm so, so glad I got sinus surgery! I haven't had a sinus infection since before the surgery in February (knock on wood) and I can breathe through my nose every. single. day. Worth the close to ~$2500 (?) we paid out of pocket for the procedure.
It's turning out to be a great year! One of life's normal ups and downs but with careful cash flow planning, we've managed to stay out of debt, despite a medical procedure, taking fun family trips and now a new HVAC system!
Next up, a recap of my May painting projects! xo
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