Stronger, in good financial shape and ready to think about the future

Dear Dave,

My husband and I are getting a divorce, and everything will be final in less than a month. I haven’t worked outside the home in a few years, but according to the terms of the divorce I’ll receive $75,000 in cash on the day the divorce is finalized. I also have about $5,000 in debt on a credit card I am responsible for paying. Other than that, I have no debt. Can you give me some advice for moving forward in my life?

Starla  

Dear Starla,

I’m truly sorry to hear you’re going through this. If you’re not already connected to a good church, I hope you’ll consider finding one. Having caring people of faith around you in times like this can help a lot.

The credit card debt is a small part of your financial picture right now. Still, my advice is to go ahead and pay it off as soon as you receive the settlement money. That way, you’ll be completely debt free and still have $70,000 in the bank.

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