You have decided to get a lump sum for your settlement payments. This is a big opportunity. Here are five smart ways to use that money to build a better future.
- Pay Off Debt: High interest debt from credit cards or loans can hold you back. Using your cash to become debt free is a huge weight off your shoulders.
- Buy a Home: A house is a place to live and an investment for your future. Use your lump sum for a down payment and stop paying rent.
- Invest in Education: Use the money to pay for school or a training program for yourself or your children. This can lead to a better career and higher income.
- Start a Business: Have you always dreamed of being your own boss? Your lump sum can be the seed money to start your own company.
- Create an Emergency Fund: Life is full of surprises. Set aside some of your cash in a savings account. This safety net will give you peace of mind.
Your settlement money is a tool. Use it wisely to create the life you want.
