We just recently sold our home for a net profit of about 50k. It should be said that neither my wife or I know a whole lot about financial planning. We have about 20-22k in credit card debt so we obviously want to pay that down first. We are living at my parents for one year before we look for a new house, as we can live there at about 1/4 of the expense of living on our own. I have two questions.
- Is there a way that I should pay off our credit cards that would be beneficial to us or make the system work in our favor?
- The remaining money is going to be saved as the start of our next home down payment. What is the best way to save that money? We like the idea of a 1yr CD as it accumulates some interest and we can't touch it.
Submitted August 21, 2018 at 10:29AM by ADobert1 https://ift.tt/2w3nQlf
