What To Do When You Come Into Money (And What Not To Do)

Wondering what to do when you come into money? Getting a small windfall or a large sum of money can feel great, overwhelming, or both. (Plus sad if it’s due to an inheritance or settlement.)

It’s normal to have mixed emotions.

What to do when you come into moneyBut no matter what, it’s smart to take some time to think about what to do before you take action.

Don’t just daydream either. I’m not talking about “if I won the lottery I’d pay off all my debt and buy a new house” type daydreams.

I’m talking…what if you got an extra $250, $1400, or even $100,000 cash?  A lot of money that you weren’t expecting, to be sure, but not a sum of money that could last you a lifetime.

You don’t want to look back and have nothing to show for it, or end up like the lottery winners who go broke.

To help you out, here are some thoughts on what to do when you come into money.
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Free Debt Snowball Calculator That’s a Snap To Use

This free debt snowball calculator is a snap to use. It will show you a few different things, depending on how you use it.

To use the snowball calculator below:

  1. Set “Start Payoff with” to Debt with the smallest balance
  2. Enter your info in the credit card debt, additional credit cards, auto loan debt, and other loans & installment debt sections
  3. Click Calculate.

By default, it will show you how many months you have to reach debt freedom. You can also change it to calculate how much extra you’d need to send each month in order to be debt free within a certain amount of time.
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The Best Alternatives To Cable TV (Or, How To Cut the Cord This Year)

Looking for the best alternatives to cable TV? There’s no time like the present to cut the cord and save a bundle!

The Best Alternatives To Cable TV -- How to Cut the Cord Without Regret!How much could you save? A lot.

The average price of cable hit $217.42 a month in 2020, according to Consumer Reports. And thanks to price hikes in 2021, the costs are still climbing. So this could be a great time to take a look at your cut the cable options.

And while you can’t literally watch free cable TV online, there are a whole lot of ways to watch a great deal of the programming.

So let’s get to it. Here are a few ways to cut the cord while still being able to watch your favorite shows.
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How To Get Rid of PMI and Reduce Your Mortgage Payment

If you have the default kind of PMI (private mortgage insurance), you pay for it each month when you make your mortgage payment. So it makes your monthly payment higher than it otherwise could be. The good news is, you don’t have to keep it forever. This article will tell you how to get rid of PMI on your home.

First, What is PMI?

How to get rid of PMI and reduce your monthly mortgage paymentsLenders usually require private mortgage insurance if you put less than 20% down on your home. They are taking on more risk, so they want to be protected. But it’s not like other types of insurance.

That’s because this kind of borrower-paid PMI covers the lender if you can’t make your mortgage payments, not you. But you pay for it each month as part of your monthly payment.

Why remove PMI? In short, it can cost you a lot of money, so that’s a good reason to remove PMI early if you can.

(That money could be going to help you pay off your mortgage faster, for example.)

There are rules in place that can help you get it done.
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