I've been freelancing for my old job for the past 3 months and I've accumulated a large sum of money. I'm about to get one huge check for the work I've done so far.
I'm trying to figure out what would be the best use of the money.
I do have debt (cc debt, loans, ect.) but I was also thinking of putting the whole thing in an IRA. I don't know which would be the better move.
Ms. Orman would say pay off that cc debt. I think it depends at the end of the day what interest rate you are paying on the cc debt. If you can pay it off and then open an IRA and put in the monthly sum you previously paid against the cc bill, this is what I would recommend.
Don't worry about the loans if they are student. Generally, financial advice is to put that at the bottom of the list.