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Originally Posted by Sweepsplayer
Do they have other debts? Do they have enough saved for emergencies? Do they have a large enough down payment for their home purchase? Are they contributing to retirement savings? Maybe the lump sum should go to one or more of these goals instead.
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They actually don't have any other debts -- no student loans, other car loans or any credit card balances (they pay off their Visa every month).
They have over 20% down payment for the house and they do have 401K's in place and they do have money for emergencies saved. So I think they are in good shape for such a young couple.