1) Move in with my parents for a year.
This option saves us the most amount of money and living with them for a year would mean we could save up enough money to have a down payment in cash for a home. They don't have a very big home, but it would be manageable. The upside is we would have people always around to watch W while I would be at work/school and A would be at work. The downside is I would be commuting 40 minutes 3 times a week to my new job while our current location is only 10 minutes away. I would also be commuting a half-hour longer to class (one day a week). Plus we'd be living with my parents (and younger brother) which makes for a crammed home and more stress.
2) Move into a cheap apartment.
In order for this to be a viable option, our bills for the apartment must be no more than $500 a month so that we can put money into a savings account. Unfortunately this isn't easy to find, not to mention it would still take us 3+ years to save up enough. With plans for future kids soon, it would be tight (yes we are poor and are planning for more kids...we don't use government assistance, I swears!) The upside is we could have a good location for my job and school and for A's job and we would have a place to ourselves. The downside is we would not be able to save a lot and we'd be in a very small space for the price we would need.
3) Buy a house and take out a loan for the down payment.
Yes I realize the ridiculousness of this. Dave Ramsey would shake his finger at this irresponsible decision. The rationale behind this is that we're already so far in debt (but making all of our payments for our debt), why not add on more? The upside is that we would have a place to ourselves that is big enough for a growing family and our mortgage payment would be less than what we're paying in rent right now. The downside is that we would be entering into the sticky world of being homeowners which comes with a lot of uncertainty. With no nest-egg right now, and already being so far in debt with loans/mortgage we would be in trouble if anything went seriously wrong in the first year.
4) Stay where we are.
There is a reason this one is last, and that is because it's not a real possibility. Our monthly rent is too high ($680) for us to afford. It gives us no wiggle-room to put money into a savings account. The only way this could work out is if by a miracle our landlord says in August that our rent is going to go down (by like $200). We won't be able to pay month-to-month so we have to make a decision by August, when our lease is up. I love our little townhouse, but it just isn't practical.
Other decisions will be made regarding future careers, but that is for another post.
If you see an option I haven't thought of, please share! If you know of a place where they give money out for free, please share...I only want enough for a down payment, I would be greedy!
2 comments:
:( We need a phone date this week when you're not busy...call me when you need to talk!! Everything will work out in time, and whatever's best will show itself to you soon I know!! Love you bestest :)
Ashley, you're in my prayers! I know that your options don't seem "perfect," but I believe that whatever path you end up taking is part of God's perfect plan for your life! I hope that you are able to figure out what your best course of action is soon. :)
And you know what part of this made me really happy? When you said that you are poor, but still planning for more kids. AWESOME! Children are amazing blessings from God, and being open to having more even during difficult times is a beautiful sign of hope and trust in God's providence. He won't let you down!
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