Rent for 15 Years?

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 23 July 2025

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

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Transcript

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0:00.0	Brought to you by the Every Dollar app. Start budgeting for free today.
0:06.6	My husband and I, to keep it short and sweet, we applied for this program. It's basically a rent-to-own
0:13.1	program sponsored by the state. It is a 15-year term, and we cannot buy the home until the end of that term, but essentially
0:25.0	all of our rent payments would go towards equity on that home.
0:29.0	My hold-up is that we'll be basically renting for 15 years, and we are only in Baby Step 2 right now,
0:36.8	so we don't have an emergency fund, but our debt is only like $6,000, so not a ton.
0:44.9	Okay.
0:46.0	I think your holdup was, you know, a good, was a good analysis.
0:52.8	I would not do this.
0:57.0	No? No, not do this. No?
0:57.6	No, not under any circumstances what I'd do this.
1:01.2	No.
1:01.6	I would get out of debt.
1:03.4	I'd build an emergency fund.
1:04.5	I'd start saving for a down payment on a house.
1:06.8	No, I would not rent for 15 years on purpose.
1:11.0	Yeah, so much changes, Danielle, in 15 years, if you think about it, life.
1:15.5	I mean, it's just crazy.
1:16.5	Think about 15 years ago for you, right?
1:18.4	I mean, just it is, and to be locked into something.
1:22.1	If you never close on it, 100% of the money went to rent.
1:25.8	For 50, I mean.
	...

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