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You Won! Now to spend it...

Discussion in 'Off-Topic' started by Birdjaguar, May 15, 2019.

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If you won $5,000, what would you do with it?

  1. Spend on consumables (food, entertainment, etc)

    2.1%
  2. Spend on hard goods (cars, appliances, home repairs, furniture, etc,)

    10.4%
  3. Spend on electronics

    2.1%
  4. Spend on travel

    12.5%
  5. Spend on family/children

    6.3%
  6. Save

    29.2%
  7. pay off debt (CC, education, loans, etc.)

    14.6%
  8. Invest

    10.4%
  9. Give to charity/church

    2.1%
  10. Save and spend

    2.1%
  11. Spend it all in different categories

    6.3%
  12. Other (please explain)

    2.1%
  1. hobbsyoyo

    hobbsyoyo Warlord

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    Put it toward student loans. Bankers need to swallow up any gains in the real economy and I am contractually obligated to do my part on that front.
     
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  2. Birdjaguar

    Birdjaguar Entangled Retired Moderator Supporter

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    Wow! Over 40% resist the propensity to spend!
     
  3. AmazonQueen

    AmazonQueen Virago

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    Isn't this like when people say in polls they'd happily pay taxes for better healthcare then vote Tory/Republican>
    Give people the money in their paws and I suspect more would spend it. Its easy to be virtuous in a poll.
     
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  4. haroon

    haroon Chieftain

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    Or maybe we feel insecure monetarily so many chose to reserved instead of spend.

    In my case, I see my surrounding, like one of my acquaintance lose his or her job and suddenly unable to pay a tons of their previous credit spending, or just get trapped in the unemployed status. It is like a nightmare

    Even in US especially in LA, I see many who lost their job then after that things just went down the hill until they became homeless.

    I must say, post 1999 or maybe 2001, things just becoming tougher and tougher. So now my number one priority is buy a house, a shelter, until that I feel quite restless.
     
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  5. Hrothbern

    Hrothbern Warlord

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    I would give the money to my daughters.
    Up to them to save or spend it.
     
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  6. Sommerswerd

    Sommerswerd I never yielded

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    IM GOING TO DISNEYWORLD



    :D
     
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  7. Hygro

    Hygro soundcloud.com/hygro/

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    CFC reunion
     
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  8. rah

    rah Warlord Supporter

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    I wonder how much different the answers might be if it was a larger amount of money.
     
  9. Birdjaguar

    Birdjaguar Entangled Retired Moderator Supporter

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    That's why I choose a small number. It could be in the realm of possibility for some and I suspect most of the answers are ones folks would actually do. Which was my point.
     
  10. Josu

    Josu Chieftain

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    If It was larger amount of money I would amortize the mortgage loan as well.
     
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  11. Birdjaguar

    Birdjaguar Entangled Retired Moderator Supporter

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    I sometimes wonder how many CFC OTers would show up for a meeting somewhere if the cost was covered by a charitable benefactor.
     
  12. haroon

    haroon Chieftain

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    If $5000 I will save money to buy property, but lets say if it is 1 million dollar, I will bought 10 houses (possible here), use one of them and rent the rest of the 9, and use 10 percent of the annually profit to upgrade the property and the living condition of the renter, while the price increase will be 15 percent annually, if I plan to increase more than that I will tell my renter 6 month in advance. My goal is to live my life without having money problem so I can move on to other more interesting problem

    So my plan about money, is pretty much the same regardless the amount.
     
    Last edited: May 19, 2019
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  13. Hygro

    Hygro soundcloud.com/hygro/

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    At $5000 I would finish school. At $50000 I would pay it off.

    At $5000 finishing school would help me pay off the loans. At $50000 paying off the loans would make finishing school a lot nicer.
     
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  14. Sommerswerd

    Sommerswerd I never yielded

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    I'd be there with bells on :yup:

    CFCOTCON 2019!!
     
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  15. BornInCantaloup

    BornInCantaloup Agent of Chaos

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    I want electronics, hardware, like audiotronics. And the rest, since I don't really need 5, I'll spend on tooth candies to feed the urge.
     
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  16. FriendlyFire

    FriendlyFire Codex WMDicanious

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    I think they cost more then $5K and can you buy them outside Japan ?
    They seem perfect for people living in the city, only downside is lack of safety you find in larger cars

    5k would be saved up and put towards a deposit on a property for me.
    Just bought a new car, no need for a new PC
     
    Last edited: May 20, 2019
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  17. Zkribbler

    Zkribbler Warlord

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    Mary, have I told you lately how extremely beautiful you are? :love:

    Mine would go straight into savings. Last fall virtually every piece of electronics I own went on the fritz: washing machine, TV, DVD, WiFi, microwave, laptop, etc., etc. Replacing everything bottomed out my bank account. I need to replace my emergency fund.
     
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  18. tjs282

    tjs282 Un(a)bashed immigrant

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    Because you're asking this question at this point in my life, I ticked 'Spend on hard goods', because one of our current cars is now on its last legs.
    Spoiler :
    Built in 2001-ish, we bought it secondhand in 2008 with 80,000 km on the clock, and it's now at >250,000 km. Last time it was assessed for roadworthiness (in 2018), the mechanic told us that although it passed, it likely wouldn't make it through the next check, due in summer 2020. So we now have about a year to find a replacement, and the clock is ticking (and the oil is leaking, and the electronics are failing, and the paintwork is rusting, and the hubcaps are rattling...).
    We don't have any major debts, so that's not an issue.

    Travel might be a possibility, but US$ 5000 unfortunately wouldn't be nearly enough to get all 4 of us to the Maldives before they sink (our current bucket-list dream-trip). It might get us all over to the USA, so my Dad can finally meet his first and second grandsons properly (he visited us just after Number One Son was born, but didn't do a repeat trip for Number Two), though I'd count that as spending on family rather than 'travel' (because Altoona, PA, is hardly attractive/interesting enough to warrant travelling there for any reason apart from family-visits!).

    Under our current/foreseeable future financial circumstances, any other frivolous spending is off the table, and (much as I might wish to) we couldn't really afford to simply give away such a windfall. If we didn't need a replacement-car, my preference would likely also be saving/investment.

    (My wife's preference would likely be to put it towards refurbishing the bathroom — but that wouldn't change my current vote!)
     
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  19. Angst

    Angst Rambling and inconsistent

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    I kinda did this recently, actually. Got a grant from the Danish government because they like my art. I'm spending it on debt and groceries. Really, if I got a million dollars or more I wouldn't live differently than I already do. I'm very happy about my life in regards to money. I have very little furniture, no TV, I don't travel. I just need a good PC and good food, a day job and room to write.
     
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  20. haroon

    haroon Chieftain

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    I feel like meeting another version of me here, my last tv was the one without anthens that I used solely for my ps1, then I sold it when I entered University, from that day until this time I never had tv or any other console.

    Im easily satisfied as a person but what I need now is income security and lots of free time.
     
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