Say you receive a windfall, let it be an inheritance, a lotto win, a tax return, etc. The amount is not big enough to change your life but can make a short difference. What would you do with it?
What Would You Do with a Windfall?
tooblue on 04/12/2015 - 22:27
Last edited 04/12/2015 - 22:35
Last edited 04/12/2015 - 22:35
Poll Options
- 11Leave it in the bank as if never happened;
- 0Spend on essentials such as groceries, bills;
- 31Repay debts such as credit card, HECS, mortgage;
- 5Buy or do something normally wouldn't, such as overseas trip, jewelery, new car / boat;
- 10Invest such as buy shares, funds;
- 2Eneloops, lot of eneloops;
Comments
I will be buying an Opal card. And taking the BUS.
Now that's luxury.
hopefully while sitting in the back seat, You fancy you!
Where is the hookers and blow option?
My brother-in-law always says when he wins lotto he isn't just calling a taxi to the airport, it will be SILVER SERVICE!Spend like 0.5-1% first on essentials you need andput the rest in the bank for 6 weeks to strongly contemplate how you want to spend it.
A similar thing happened to a friend I know.
She firstly put some money towards buying her first home.
Then she went on a 2 month trip to Africa and had an experience of a lifetime seeing the animals, people and landscapes!
I guess it depends on the stage of your life too. Like I love travelling so would definitely go and visit a country and cross stuff off my bucket list.
I just think life is too short and you may as well experience different counties and cultures if you have the opportunity :)
I have heard a recipe for wealth. Always invest (i.e. save with a positive return) 50% of any income rise.
My eldest daughter just got her first job. If she believes, she will deliver 50% of everything she ever earns into investments, as I am arguing this starts from the first pay cheque.
I reckon she would easily retire before 50yro if she does, due to the combination of lower expenses (assuming she keeps her spending in line with her not-saved income) and great savings.
But buying an iphone in 3 months instead of 6 is just so important.
when wind fall's over, pass some to people around you.
need an option to donate, share the love. <3
Where is the "give to charity" option
Get rid of high cost debt, such as credit cards, as your first thing. The next step is usually the mortgage but the interest rates are so low at the moment I'm not sure. Any return on investments you make will be taxed so that is why removing debt is usually the first port of call. best is to get financial advice
I would ask my wife where in the world she would like to go and then buy her a one way ticket there.
It depend on where the money was coming from.
If it was from an inheritance of a close friend or family, create a memory with the money. If it was a prize, or from someone with no sentimental value, pay off your debts and better your financial position.
I always said that if I won lotto the first thing I would do is go to the expensive high end hairdressers. But a normal windfall I would pay down debt or invest in property.
Wow 11 people would put it in the bank and leave the debt outstanding. No wonder we have a debt crisis.
There are debt free people out there.
The person was crap, I couldn't keep the portion of their inheritance, it would be like dirty money, so I gave it to friends for shed, towbar, etc anything but Apple or church.
Sometimes that's how it is.
buy premium unleaded fuel and live the good life for a week.