(1) Max out 401ks - $33,000
(2) Max out IRAs - $10,000
(3) Prepay mortgage - $1200
(4) Add to baby fund - $3500
(5) Add to emergency fund - $7000
(6) House/Furniture fund - $3000
Total - $57,700
(1) - $20,614 (62%) (goal is $33,000)
(2) - $10,000 (100%) (goal is $10,000)(Completed)
(3) - $900 (75%) (goal is $1200)
(4) - $3083 (88%) ($9244 in our baby fund, goal is $10,000)
(5) - -$2276 (-33%) ($22,132 in our emergency fund, goal is $32,000)
(6) - $3000 (100%) (Completed)
Total - $35,321 (61%)
Also, Christa asked if I could elaborate on our Baby Fund. Best case scenario, the Baby Fund will be used for "start up" costs like crib, decorating the baby's room along with birthing costs. Even though we have good health insurance, I understand from friends that the co-pays can run up since you have a co-pay for the hospital, the ob/gyn, etc. Worst case scenario, the Baby Fund will be utilized for fertility treatment costs. We have not gotten to the fertility treatment stage, but so far we are not pregnant so that is a possibility.
One of the reasons we got our finances in shape after we got married was so we would feel more comfortable moving forward with having a baby. So at this point, we are not delaying our efforts due to finances and the baby fund is just a way to save some extra targeted money for that goal.