Personal finance question?

OK so currently I have about $10K saved up. I am also expecting a $35K inheritance check within the next year. In addition, I have about $34.5K currently outstanding in student loans which I will be paying at about 6.5%. My question is whether I should use that inheritance money to pay off the student loans all at once immediately or should I keep that money and do something else with it (invest etc..)?

Personal finance question?

This is a standard question in finance: Best bet, pay off any and all debts as quickly as you can. Not only will it give you peace of mind, it will relieve you of headaches (did I pay it this month? Oops, I spent the money on a good time, how will I pay my bills? etc.) but will give you a better credit rating.

And, in real life, people seldom receive as much as 6.5% on what they save. A few claim it, but I don%26#039;t see it, except for a rare occasion.

So, don%26#039;t gamble with your future; pay off debts, save money, THEN have fun.

Personal finance question?

Invest the money in a low-risk option, such as diversified mutual funds or bank CDs. I recommend against paying off the student loan as the 6.5% is a good rate. Take no more than a few thousand and travel overseas..

Personal finance question?

Pay off your debt and be DEBT FREE. Don%26#039;t count on that check though until it%26#039;s in your hand. I also recommend reading Dave Ramsey%26#039;s book %26quot;Total Money Makeover%26quot; [get it from the library for free, buy it for someone after you are debt free, if you want to buy]