how to spend this money i'm getting
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how to spend this money i'm getting
| Tue, 11-04-2008 - 10:24pm |
I am selling a property and will be getting some profit. I know there will be taxes on the money I get but i'm not sure how much. I will set aside for that and then i need decide if i will pay off my car or some credit cards instead. i also will set some in my savings. and can't forget christmas.
what would you do ..pay car or credit cards off. This would put a big dent in my cc debt but i still have quite a bit.


Do what will make you the most money.
Was the house a rental?
Jennifer
Hi Michelle,
I agree with the pp that you need to figure out what tax liability, if any, you are going to have and save that carefully and probably a bit more than you think you need.
thanks for your help. I think I'm going to put $ in savings and pay some credit card debt. I will feel better having the $ for taxes and emergenies tucked away esp. with my husband's work so scarce these days( construction). My job is pretty secure(nurse) but i can't cover all the bills. i am thankful we sold this (mobile home) at all considerating the economy.
it's about time something happened good. we are moving to a new house(remodeled) one soon and will rent our current one out. we have been in the rental property business for awhile. But we hope to sale this one in a couple of years after the economy has recovered more.
thanks for listening
Trying using the money as leverage with the credit card companies. Tell them that your trying to decide who to payoff and see if you can negotiate a better rate with the ones you cannot payoff with this money.
Norma
"Patience is the best remedy for every trouble"- Plautus