this post was submitted on 04 Dec 2023
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Asklemmy
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The least amount? 20k US would halve my credit card debt and give me a leg up on getting the rest paid off. 40k would give me a jump start on finally rebuilding. Given I'm in my 50s though and with the state of the world, I'm likely to be making credit card payments until the day I die.
52 here, much the same story. Started getting paid for the first time in life, went a little nuts with credit. $20K would knock most of it out.
OTOH, I got most of the things I've wanted in life before inflation exploded, so I got that going for me.
Also, about to get no less than $50K for the last of my inheritance. That damn well pays of Habitat for Humanity on our home.
Do the Dave Ramsey thing! Focus on your smallest debt, pay it off. Go for the next one. And the next.
I can dig out in the next 2 years. My wife just took a second job, and while that sucks, she's happy to do it so she can contribute more to the household.