4.6 • 682 Ratings
🗓️ 19 May 2024
⏱️ 6 minutes
🧾️ Download transcript
Click on a timestamp to play from that location
0:00.0 | Brought to you by the Every Dollar app. Start budgeting for free today. |
0:06.5 | We bought a property three years ago, and the property owners committed fraud. They withheld the |
0:13.2 | fact that the well runs dry about half of the year. Oh gosh. It's like a problem. It will cost |
0:19.3 | $24,000 to drill a new well or $30,000 to bring in city water. |
0:26.5 | My husband wants to spend our emergency fund on the well, but I don't think it's an emergency |
0:32.1 | because we've lived with it for three years. |
0:35.4 | We spend about $80 a month on laundry and we're debt-free besides |
0:40.7 | the mortgage. My husband works full-time and makes $16,000 a year. The other option is we could |
0:48.9 | buy an old well-drilling rig for $4,800, but we don't know if there's any major issues with it. |
0:57.9 | And then we could buy a brand new well drilling rig for 22,000. |
1:05.6 | We have 11,000 in our emergency fund, but once it's fully funded, it will be 18,000. |
1:16.0 | So you don't have the money to cover this anyways, even with the emergency fund, if you did the |
1:20.1 | 24K or 30K option? That's right. And nothing in the, was there a lawsuits because of the fraud, anything legally that they had to pay you guys because they didn't disclose it? |
1:33.1 | We are still in the process, but we do not believe that we will probably win the case. We don't believe we will get the money to cover it. |
1:43.5 | Why? |
1:52.2 | Because we believe that she doesn't have the money to pay us back for it. |
1:52.5 | Okay. |
2:06.2 | Okay, so how long, Elise, would it take you guys to save up the extra $13,000 to make this a possibility for a $24,000 fix? |
2:13.8 | We have saved about $11,000 in the last four or five months. |
2:15.0 | Okay. |
2:19.8 | So it'll take us another six months probably. Okay, to do that. And you don't want to do that. That's not because you're good with how you guys are functioning now. Because I mean, |
2:25.0 | I guess if the well runs dried, you guys have water. I mean, like what does what does life look like on |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Ramsey Network, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Ramsey Network and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.