Will be getting a small inheritance shortly. We live pay-to-pay and have no savings. We do have credit card debt. The extra money will pay ALL debt except the house (down to $37k now), and we will be able to put $5k in the bank. This is all we can do right now. I just want to be sure that this is what we should do - pay all debt that we can - rather than to hold onto the money for any other reason. Any confirmation or quick advice?
Paying off all of your credit card debt is a very good idea!
Stock up on food, now while you can afford it and it is available.