re: Rains it pours. Ramsey debt snowball and a dead air conditioner. Updated page 3

Sell the freon to some crack heads, that will make you some money.

Katy won't be booming long with $40 oil

I would look at a HELOC. Wall St prime rate is 3.25%.

We are currently doing the debt snow ball right now. My Fiance and I have $1500 saved for emergencies.

I know you would like to replace it and I agree it should at some point be replaced.

If I were in your shoes, I would get several quotes to fix it and ask the professional how long do they think it would last.

Then after its fixed, save your $1000 for your emergency fund, then continue your snowball.

It will be hard but you have to have money for emergencies! That is why the emergency fund is Step 1 of the baby steps and the snow ball is step 2!

"Baby Step 1

$1,000 to start an Emergency Fund

An emergency fund is for those unexpected events in life that you can’t plan for: the loss of a job, an unexpected pregnancy, a faulty car transmission, and the list goes on and on. It’s not a matter of if these events will happen; it’s simply a matter of when they will happen. "

Once you are finished, you can have it replaced.

When an A/C guy tells me I need a new unit, I call plenty more. I always find one that'll patch up my unit in some way or fashion. There is always some sole proprietor looking to get a good new customer.

I do not know you, but when I was in your position once in my life I was there because I always just did the easiest thing which in this case is borrow and buy a brand new unit.

Also, you say the best thing you can do is stay put. Why can you not sell and buy a smaller house? If real estate is booming isn't your house booming too? It is all based on p/s/f. Your comment was very confusing.

Why should he sell his house? His unit is 18yrs, in the end an 18yr old unit will cause more headaches and increased costs especially if you start piecing it together.

Call some AC companies see what kind of financing they have, check into a short term 401k loan.

This is the south AC isn't an option...

Probably a good idea to inspect the rest of the system. At 18 years you're getting towards the end of a lot of unit's lifespan.

Do not borrow against the wife's 401k. Get on rice and beans, sell some stuff and cash flow the thing.

Lots of great advise in the thread.

18 year old unit? Its just about run its life expectancy. Its not worth trying to 'patch up'.

Bite the bullet and get it fixed right.
If this is going to be your permanet home, its worth the investment.

Its not like you are wanting to add a pool or patio(which in not a neccesity), your are in south Texas were the summers can get boiling hot.

Sounds like you are struggling a little financially, we have all been there.
If you are in a real pinch, get a couple of window units at Wallyworld or Lowes until you come up with the money.

Work a few other jobs, have a garage sale, sell stuff you really don't need on ebay or Craiglist. Get the wife and kids working.
Cut out extra expenses, go with beans & rice, food is a HUGE expense.

Shop around, get other bids.

Don't trust this to some jake-leg outfit or individual, go with a well established local business.

Good luck.

Yea don't borrow against 401k. I took out $6,000 from my 457b to help start my auto glass business. Even though business has been good I still to this day regret going that route.