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Money and Finances
Reply to "If you came into a largeish amount of money unexpectedly...."
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[quote=Anonymous][quote=Anonymous]It depends (of course). Do you already have ample retirement savings and an eight month emergency fund? Do you have high interest debts? What is your home situation-rent, own, mortgage, thinking you need something bigger someday? All of these issues would take proirity over spending it. [/quote] this. Given our current financial situation, I would first pay off our credit card debt ($7k) and replenish our emergency account ($18k) to cover the costs of an unexpected and very costly expense we recently had. I'd take $10k and set it aside for a big family vacation sometime in the future. I'd like to do something really special before DC1 goes to college in a few years. We are on target with our retirement accounts, so the remaining $25k would go into the kids' college accounts. But if we needed a retirement boost, the money would go there.[/quote]
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