what on earth to do with inheritence?

[marymaryquitecontraryusedtobeafairy]

I've been left a house which to sell now would bring me about 80K in the bank.

I'm poor. I bring in about 24K/year, and am in masses of debt. I just survive. I'm a mum and I work and get benefit top ups. I'm council housed in a dire part of the country, the house is in a slightly better area but I don't wish to uproot myself and children from school and home.

What do I do? Can this help me get out of the poverty trap? Do I live off the money? Live in the house and enjoy a secure home but remain in poverty? I can't afford to do the house up but can I possibly buy a very cheap or auction place, do that up and start flipping houses as my main income?

Look I'm not that bright but I've worked hard all my life and it's just not good enough financially. I decided to be a care worker because I enjoy it but the pay alongside the increase in prices has crippled me and there's no way to get out of it so I just trudge on day by day. I'm not miserable nor are my children but I don't want to waste this opportunity.

I don't have money for a financial advisor right now nor time to research so I'm hoping you clever and wealthy lot can help me out a bit with pointing me in the right direction.

Thank you.

I think all the above advice is all very wise and pertinent. I do not need to add to it because your personal circumstances are very important.
However, I used to be a financial advisor and I will add a couple of things:

1. Renting houses is tricky at the moment, however if you can move into the house you have been left, it could greatly improve your financial position to not have to pay rent.
2. Houses are dropping in price at the moment, a good sell now may work for you. If you then have a cash pile, then get rid of your debts.
3. When I was an advisor, the service was 'free'. However, although regulated, advisors make money on selling financial products. DO NOT BUY AN INVESTMENT BOND!

I am pleased to hear of your good fortune. Talk to your bank manager, use common sense and make your own decisions based on them.

I would perhaps consider a cash ISA and some Premium Bonds while you think about it. Best wishes.