Well, hubby and I refinanced our house, and took 28K out.
Some went into our emergency fund to hit 10K (it is currently 11.5K). The rest was put into a house fund, the purpose to improve/remodel our house so we (OK I) wouldn't be tempted to buy a bigger house with higher carrying costs. We had fun and redid bedroom and bathroom and a brick patio. So, we have 15K left in the fund. We will need to spend about 2K of that (at most) on additional foundational repairs. Our original plan was to fix up the attic into additional living space, but it doesn't look like that is going to happen... a) the person who quoted 30K with husband's help is now unavailable, and b) our savings are at a standstill, particularly since husband's current working situation income-wise is not great. I wanted to hit 20K in that fund before any work happened, but just don't see us saving the money.
a) hold tight for another year to see if this year brings changes for his work situation?
b) accept that the attic remodel is not feasible, and direct this money elsewhere? right now it is getting .85% interest which is then taxed. Most likely just pay back mortgage early.
c) save it for upcoming purchases like replacement car, furniture, etc.
I know this is not big money to most of you, but it is to me.