The full amount is going straight to debt, bringing our target debt-free date five months closer! It will pay off one entire card and most of another one, leaving us only one ($5000) cc balance, one ($4500) credit line balance, and the amount we owe my parents (a lot LOL). By year-end, we expect to have only about $3000 in debt besides the over $10,000 we owe my parents but which doesn't show up on our credit report. Then we will split the amount we were paying to debt in half, pay half to my parents (we're currently paying just a little over the interest each month--we're paying 10% interest on the loan to my folks) and the other half into a down payment/closing costs fund and in a couple years we should be shopping for our new home/community building! Woo-hoo!!
Just wanted to share.
P.S. I don't want to whine, and I'm trying to give it time for me to get used to it, but I think I've decided I don't like the new board format. How's everyone else feeling about it? I don't feel like I can see what's new and what's going on as easily. It feels less friendly and welcoming to me, and I get confused by it easily. Maybe I'm just uncomfortable with the newness, but I find myself coming here less often. Anyone else?