Hey there /r/Frugal - I'll try to be brief.
My grandmother recently passed and left my parents quite a lot of money (6 figures) and gave each of us grandkids $10k.
I had a string of issues that led me to max out my credit cards over about 5 years, everything from medical bills to car repairs I couldn't afford. I've also got a car payment, mortgage, blah blah blah. I'd love to stick all the money in a fund and be done but some freedom from some debt would be an immense weight off my shoulders. Here's a break down of my current debt:
CC1 - $10k - $250/mo
CC2 - $5.5k - $100/mo
CC3 - ~$600 - $140/mo
Car - $10k - $190/mo
I also need about $1400-2k in dental work (not SUPER urgent)
I was thinking to snub out CC3 immediately since it's so close, to being gone, but then I wasn't sure what to do. Should I slap down $5k to free up CC2?
I've also considered asking my dad about borrowing money and paying him back instead of paying these grubby CC companies. He probably will help out, but assuming he doesn't, what's the best way to utilize the $10k inheritance to help in my current situation?
June 23, 2017 at 12:45AM
