Recently divorced, sold house and I now have 60K in savings. I have 26K credit card debt from the divorce, and another 7K personal loan. I had planned to pay off the credit card debt immediately as that would free up about $900/month in credit card payments. I can then snowball the 7K personal loan, as the payment on that isn't that high.
With the credit card debt and personal loan out of the way, my only debt will be a car payment and student loans, which I plan to start on next in addition to aggressively saving for a house downpayment in another 2 years.
Are there any special considerations here, and is this a good plan? Also, am I able to spend the money from the house sale immediately? I researched it and I don't think I owe any taxes on it because it is under 250K, but I am worried there will be some random tax that crops up next year during tax season that I didn't account for.
Submitted December 23, 2023 at 08:23PM by risefromtheashes_ https://ift.tt/OQ2Aseo
