My husband and I have been working on our stockpile for a few months now, and we have a healthy supply of cereal, poptarts, oatmeal, boxed potatoes, soup and other canned goods, TP, paper towels, personal care items, and pain relievers. Our intention all along was to buy when things are cheap and stockpile so that we don't ever have to pay full price for these items. Plans changed!
We started looking for a house last month, and we finally found one that we like. We put a cash offer in on this foreclosed home, and we are currently waiting on a response from the bank to see if it's been accepted. In the meantime, our cash offer, if accepted will completely drain our bank accounts. We're talking DRAIN. We made the biggest offer possible, hoping that it will be reasonable for the bank to accept, even though it is still signifigantly below the list price. We shall see!
The downside of paying cash is that we will be BROKE if this offer is accepted. The upside is that we will own our own house free and clear and not have a mortgage payment to worry about. Since there will be no mortgage or rent to pay, it shouldn't take long for us to rebuild our savings and be able to fix up the house a bit. But what if something happens in the meantime? What if the car breaks down? Yikes. Pretty scary stuff! In the long run, it will definitely be beneficial to our family's financial well being to live mortgage-free....but what about in the meantime?
So, right now we wait for news on our offer. We jump a bit every time the phone rings, and we eat out of our stockpile, saving every penny possible for the closing costs that we might have to be paying very soon. We eat cereal, poptarts, boxed potatoes and soup, and we're loving every minute of it!
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