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Lengthy story brief, I am anticipated to obtain an honest inheritance (someplace round $70k estimated) someday subsequent month. At present I’ve
≈$20k bank cards (which I intend to instantly repay) – largely debt incurred beginning a brand new enterprise, and taking a 12 months off instantly earlier than for college
≈$10k owed on my automobile
$16k scholar loans that are presently @ $0 fee
Home is paid off, month-to-month family payments are $350-600, relying how the fuel/electrical invoice is that month.
I am additionally about 8 months into a brand new enterprise with the one actual expense being $700/mo lease.
My plan is to repay the playing cards, and simply proceed paying the automobile as is, and wait on the coed loans at the very least till the forgiveness is sorted out by the courts.
I am anticipating to have round $50k left after this, which I plan to divide by about $10k into private financial savings, possibly one other $10-20k on some family work (wants some exterior concrete work amongst different issues), and investing the remaining.
Is that this an honest plan?
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