Minor Windfall – What would you do?

Budget101 Discussion List Archives Budget101 Discussion List Minor Windfall – What would you do?

Viewing 0 reply threads
  • Author
    Posts
    • #253482

      I would say put some into an ira or savings or a cd of some sort.

      put some towards lowering your mortgage & student loans.

      have fun with some of it- being on a budget and never getting to do

      extra stuff can be rather sufficating after a while!

      as for a vacation fund- maybe figure out now where you want to go,

      and start a brand new savings account for it. don’t put it into the

      regular account, because it’s easier to spend it then, just start a

      brand new one at a whole different, preferrably out of the way, bank.

      once you know where you want to go, and how much it’s going to cost,

      deposit 50-75% of the amount needed into the account, and save up

      for the rest of it. When I was doing our summer vacation fund this

      past year, I started off by saving up all the checks I earn online,

      plus I saved up dollar bills and all our change for about a month.

      My first deposit into our new account was for just over $200. From

      there on out, I repeated the same thing- all online cashable

      earnings (most of what I earn online is gift cards, so those weren’t

      useable towards it, but a few sites do cash or paypal), plus dollar

      bills and change. Then, when we got our taxes back, my husband put

      $500 towards the account. After that, we moved, and the savings

      slowed down on what I was able to save, but in the end, I had over

      $1600 in the account.

      That allowed for us to go camping several times, go to a local

      amusement park, buy a zoo pass for the summer, and do a few small

      things around home for being out and about, and I still have over

      $200 left in there. We’ve had to dip into it a few times over the

      past month or two, but overall, not bad.

      It was nice having the money set aside, and while we could have

      taken the full amount out of our taxes, it felt really good being

      able to contribute my own money towards it, and save up for it.

      — In Budget101_@yahoogroups.com, “mommyto2zs” wrote:

      >

      > So here’s a question for all of you budgeters:

      >

      > We are getting about $9,000. What would you do with it? What do

      you

      > recommend we do with it?

      >

      > Some ideas:

      > *put $2K in each of our IRAs

      > *put $$ into our emergency fund

      > *go on vacation. My older child is 6 1/2 and we’ve never been on a

      > family vacation just the four of us. Nothing fancy, just vacation

      > *put $$ into kids college funds

      >

      > We have no credit card debt or other consumer debt except mortgage

      and

      > student loans.

      >

      > Thanks for any advice!

Viewing 0 reply threads
  • You must be logged in to reply to this topic.

Budget101 Discussion List Archives Budget101 Discussion List Minor Windfall – What would you do?