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Author: TheDreamer Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308517  
Subject: I won an argument with my mother... Date: 7/4/2007 10:29 PM
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...but I'm sad :..(

On June 29th, I became a home owner. For some reason I'm too open with my parents on my finances. Perhaps its one of the few things we can both talk about. It was because of them that I discovered The Fool....though they don't necessarily heed the advice found here.

Anyways, my mother was disappointed that I didn't sink all my cash (and then some) into the down payment for my home. I only paid the minimum that was required to close. Sure, if I worked at it, I could've come up with an extra 5% down. Lowering my monthly payment by $45....so $6355 now or $16,200 over 360 months). Still would need to pay PMI.

But, I don't have all of this in cash right now (though I could've taken the hit on selling CDs to make it). And, I was more interested in building up a nice 6 month emergency fund again.

I was out of work for the first 6 months of 2006 and then I had to move across the country to start a new job, etc. So, I had proven the value of that emergency fund. Unlike the last time I was unemployed for 6 months, and ran up my the plastic really bad....and then I dipped into my retirement savings to relocate to the United States.... but, that was pre-Fool.

I wanted to keep what left over cash as my emergency fund right away.

Anyways, I won the argument for having an emergency fund now...because I've had my first emergency. The dishwasher broke... >:-X

Seems I'm cursed with buying homes and dishwashers....last time I bought a home, the dishwasher was the first thing I had to replace. Though it got stuck in a state where it was sucking all my hot water and flushing it straight down the drain (of course, I hadn't done dishes for weeks before the move....so I really needed to do the dishes when I moved in).

It is a draining problem again....and I could probably survive if it was that same kind of problem (draining too well). But, it isn't....

Meanwhile...there are other things that I had expected to eventually repair/replace first.... Not to mention a few things I've been putting off until I got a home, or things I need to buy now that I own a home. The little things have a way of adding up. ;D

The Dreamer.
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