Making the Most Out of an Insurance Payout for Young Families

Katie and Tom, a young couple, recently got a payout from a critical illness insurance policy of $200,000. They want to know how to spend and where to invest this amount.
If you are like Katie and Tom, who want to improve your finances from an insurance payout, you can consider yourselves fortunate. This amount of money is ideal for boosting investment plans. Though there are many other factors to look at, here are some ways how you can prioritize.
First, you can pay off your debts, such as credit card…