What to save for...

Currently I have 4 savings accounts,

1- TFSA is my Emergency Fund which is self explanatory.
2 - Slush Fund which is my non-emergency emergency fund.. one that I can actually dip into when needed for unexpected things that creep up on me.
3 - Car fund which is for oil changes, repairs and also licensing fees that come up every so often.
4 - Planned Spending which is generally just for house stuff. I've recently dipped into this to get central air for the house, new tile for the kitchen and paint. I'm currently saving to buy a new UV Air Purification system, a humidifier and a fence.

Before the end of this month I want to contact my bank and set up an RRSP account because I'm way behind on that. This will bring my total up to 5 different savings accounts.

My whole reason for this post is to try to figure out if I should have some kind of specific goal I should be saving up for. I'm not interested in any kind of vacation though, I have a laptop, ipod, blackberry. I guess I should just be happy that I want for nothing, or already have everything that I want, lol!

If I really thing about it though, I enjoy buying things for the house though so I think I'll just keep putting money into my 'Planned Spending' account and decide on things to get with that. If I put my mind to it I could come up with a long list of things I would like to get for the house.... a new couch & chair for the living room, a headboard for the bedroom, new flooring for the master & guest room, paint for those 2 rooms, new flooring for the basement. Yup. Buying stuff for the house makes me happy. I think that will be my plan.

I`ve made a decision.

I`ve been going back and forth a lot trying to decide whether I should take the extra money I have and use it to pay down my mortgage faster or invest it in RRSPs.

I`ve been looking a lot online for insight from other people and people seem to be pretty divided on the subject but ultimately I`ve decided that I`m going to stick the money in RRSPs.

My reasons are, mainly that I have no money at all in RRSPs right now. Since my mortgage is acceptable debt I think I should focus my energy on topping up my RRSPs. Even if I take the full ammortization period to pay off my mortgage, and if I end up staying in this house forever, It`ll be paid off 15-20 years before I plan to retire.

So that was my big decision today. When I get my assessment back from the tax man I`ll know exactly how much money I can save up for my RRSP limit and that will become my main goal. My secondary goal is my TFSA.