Inheritance, emotions and debt

iVillage Member
Registered: 09-01-2006
Inheritance, emotions and debt
18
Sat, 03-24-2012 - 3:06pm

I wasn’t sure where to post this question. I hope I’ve got the right place.

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iVillage Member
Registered: 04-16-2008
Sat, 03-24-2012 - 3:53pm

The "logical" thing to do is to use it to pay off credit card debt. It is difficult to undersatnd emotion, but it appears like you have already made a rather bad financial move (quitting jobs and moving without a plan), so perhaps you need allow less emotions involved when it comes to finances?

iVillage Member
Registered: 05-08-2006
Sun, 03-25-2012 - 4:47pm
How about taking $1000 and starting a college fund, then paying off the credit cards and taking what you are paying on credit cards half into your remaining debt and half into the college fund until you reach $30,000? Your grandmother's legacy to you could be financial freedom. Make it a goal when you have no debt and $30,000 saved that you will do the meaningful thing you are not doing now. The reunion would mean as much in five years as it will mean tomorrow...even more if you can pay cash... You might want to post on the Debt Support Board, they are very active, have good cost savings ideas, and focus on accountability. Best wishes SJ
iVillage Member
Registered: 09-01-2006
Fri, 03-30-2012 - 3:26pm

Thanks to you both for your responses.

iVillage Member
Registered: 04-16-2008
Tue, 04-03-2012 - 1:02am

Apologies if my reply came across as too harsh!

iVillage Member
Registered: 09-01-2006
Tue, 04-03-2012 - 11:44am

Thats ok.

iVillage Member
Registered: 08-29-2006
Thu, 04-05-2012 - 11:14pm

Hi,

First off, I am sorry for your painful loss of your dearly departed.

iVillage Member
Registered: 09-01-2006
Fri, 04-06-2012 - 7:43pm

Thanks Audrey,

I would like to do something like a Roth IRA or savings. We cashed in our 401Ks to buy our home in 2009.

iVillage Member
Registered: 03-15-2012
Fri, 04-06-2012 - 11:07pm

I think the collge fund for your baby is a great way to start off.

iVillage Member
Registered: 08-29-2006
Sat, 04-07-2012 - 12:33am

Your plan sounds like a good one. You make a lot of sense.

iVillage Member
Registered: 10-25-1999
Sat, 04-07-2012 - 10:50am

I think the college fund thing

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