My inheritance is on its way

My dad left my brother and me each a token bequest in his will. The bulk of the estate, quite rightly, went to my mother, but he felt it was very important that he specifically remember his children as well. His father, my grandfather, had had a similar provision in his will but my grandmother made him take it out, something about which my dad was very bitter for many years (many other issues there as well, mostly relating to money, but I digress).

I’m of two minds. The amount is just enough to pay off one of my two credit cards, which would then allow me to transfer the balance of the other, higher APR, card to it, with a little bit left over. The smart move would be to do just that. But that wouldn’t be any fun. The devil on my other shoulder is telling me to clean out my Amazon wish list, fly to Vegas, and generally be completely and utterly irresponsible in the best “found money” tradition.

I’m sure I’ll end up paying off the credit card (which would undoubtedly please my father, who was so responsible about finances), but damn if I won’t be casting some wistful glances at my wish list…

pay off the card and spend the money you would have been spending on interest on your amazon wish list/saving up for a nice lil trip to vegas.

How about splitting the difference? Take half, or even 2/3, and pay off debt and then blow the rest on whatever you want…?

Sorry about your dad, btw. I know I had very mixed feelings when I inherited money from my mom. One hand: wow, money. Other hand: wow, mom’s gone. :frowning:

Split the difference; use half of the money to pay off some of the credit card debt and spend the rest of something you’ve been lusting after. And assuming you’ve been making payments on that credit card debt, keep paying the same amount, secure in the knowledge that more of what you’re paying is going to reduce your debt instead of paying interest.

I’m waiting for my Dad’s estate to settle, at which point I’ll be coming into a small sum of money (his estate is being divided among five children and eight grandchildren, so it won’t be a life-changing amount) and I know that I should just put it into my investment program for future living expenses. But I’ve got a little list…

Do both: pay off your credit card, then charge the books and the Vegas trip to your newly-empty card.


It’s only a 4 hour drive from here. I’ll meet you in Vegas and we’ll party. :slight_smile:

Go to Vegas. Every one always wins in Vegas so then take your winnings and use that resposbily.

I wonder if there is a reason that I’m broke?

Don’t split it. Pay off the card. Use all of the inheritance for it. Every spent on that is a plus all the future interest on that $. That’s a better return than many investments.

Buy yourself a token something by which to remember your father.

If your coming to Vegas I’ll get you a new tiara to wear.
We’ll get drunk and have a blast.

I’d pick out one thing from your wishlist and then put the rest toward your credit card. If you change your mind you can always just go buy it all up later, Amazon will still be there and will be happy to take your order.

I say spend it getting a new job.

I think splitting it is the way to go, too. Like Quartz said, something nice to remember your father by, and the rest on debt reduction (especially since you know your father was extremely responsible with money). Just think - reducing your debt puts you that much closer to fulfilling your wish list without increasing your debt load. WooT!

I think you should host a Madison Dopefest and pick up the tab for dinner. Use whatever is left to pay for drinks later.

Actually, the job hasn’t been so bad since I started taking drugs. But I digress.

As for the notion of buying a token of remembrance, it is a sweet idea but I have many cherished things from my father that he actually owned. I don’t need to buy something to remember him by. His first name is the same as my middle name (and was also his father’s first name) so there are a number of family items that are engraved or embossed with the name that have passed to me.

[Let It Ride, Buster Poindexter]“He Pissed It All Away…!”[/Let It Ride, Buster Poindexter]

Pay it off. Life without debt is great.

I wondered what to do a few years ago myself. I put most of it into an IRA and spent the rest on a great new computer and a motorcycle.

Treat yourself.

Get a tattoo!!!

Or not.

Pay off the debt and cancel the credit cards.

Well my opinion doesn’t count (obviously.) But me being me, I’m gonna offer it anyway. :slight_smile:

Today’s economy is so uncertain I say pay off the debt now, just in case.