Watch: What to do with a $50,000 cash gift?

CNBC's personal finance correspondent Sharon Epperson counsels a couple on how best to spend a large cash wedding gift.

Mon, Dec 03 2012 at 2:00 PM

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A viewer wrote in to Today Money requesting advice on how her son should spend a $50,000 cash wedding gift. The newlyweds just happened to have a mortgage with a $50,000 balance and while it may seem like an easy decision to pay off the house, CNBC personal finance correspondent Sharon Epperson advised the couple ensure they have a three- to six-month cash reserve set aside before spending any of this generous gift.

Photo: 401(K) 2012/Flickr

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