Jump to content

what would you do with $50,000


  • Please log in to reply
79 replies to this topic

#1 *melrose*

Posted 15 December 2012 - 05:19 PM

Not going into any detail but I have be given $50,000 and not sure what to do with it, I am in need of a new car so thinking of spending $12,000 on that. I don't have house payments as I rent....should I just keep it in the bank and use it when I need it? help needed.

thanks biggrin.gif

#2 fruitbat72

Posted 15 December 2012 - 05:21 PM

Lucky you!

I'm jealous  cool.gif

#3 Sif

Posted 15 December 2012 - 05:22 PM

As you asked what *I* would do - I would buy a car. We don't have one, but desperately need one and 50K would well and truly cover our needs!

#4 PatG

Posted 15 December 2012 - 05:24 PM

If you have no foreseeable need for it for a while, buy your car and put the rest in a term deposit for later.  Pay off any debts, CC etc. first.  I guess it depends on what your current savings situation is.

#5 Escapin

Posted 15 December 2012 - 05:25 PM

I'd put the rest of it into some term deposits at the highest rates you can find, and then figure out what tondo with it. Whatever you do, don't leave it in an 'every day' bank account earning no interest!

#6 *melrose*

Posted 15 December 2012 - 05:25 PM

I have no credit cards, no loans etc.

Edited by *melrose*, 15 December 2012 - 05:29 PM.


#7 MintyBiscuit

Posted 15 December 2012 - 05:27 PM

If it were me in your position, I'd probably think about whether I wanted to buy a house in the near future and look at using it for a house deposit once I'd bought the car. Even if you buy the car and put the rest in a term deposit for a while to let you decide.

In my position, I'd use it to pay down the last of our debt, landscape our backyard and probably do a small reno on the bathroom

#8 Peridot

Posted 15 December 2012 - 05:28 PM

I would pay the remaining on our car loan ($12,000)

Use $3,000 to buy new furniture and housey things, clothes, perfume, bits and bobs

Split the other $5,000 in two, putting $2,500 in each of our two girls bank accounts

Leave $5,000 in my everyday account, and put the other $25,000 in a term deposit account original.gif

#9 ELH05

Posted 15 December 2012 - 05:28 PM

Deposit on a house

#10 whydoibother

Posted 15 December 2012 - 05:30 PM

pay any debts off first
If I didn't have my own home, I would use it as a deposit perhaps

#11 AdelTwins

Posted 15 December 2012 - 05:35 PM

I would use the money to pay down our mortgage.

If I were you I would buy a house - either to live in or rent out.

#12 lclb

Posted 15 December 2012 - 05:39 PM

I would renovate both of the bathrooms in my house. I don't think I'd have much change after I'd done that!

#13 brazen

Posted 15 December 2012 - 05:41 PM

overseas holiday and onto mortgage and redraw to buy new car in a few years when we need it original.gif

#14 FeralZombieMum

Posted 15 December 2012 - 05:43 PM

Buy an investment property.

#15 Born Slippy

Posted 15 December 2012 - 05:44 PM

Pay off loans ($15,000)
New car ($10,000)
And the rest ($25,000) towards a house deposit.

#16 MAGS24

Posted 15 December 2012 - 05:48 PM

If we had that much we would put it towards a mortgage deposit.

#17 Cranky Old Woman

Posted 15 December 2012 - 05:49 PM

Probably share it between my three children.

#18 namie

Posted 15 December 2012 - 05:56 PM

If I were in your situation I would buy a new car and put the rest in a high interest bank account for a while until I worked out what to do with it (most likely buy a house). I'd treat myself to something using the interest earned, every so often. Something you'd normally think 'That would be nice to do/see/go to' but can't quite justify out of the normal budget without saving for a bit.

Then when I was ready, and had sourced a mortgage, I'd buy a house.



#19 Agnodice the Feral

Posted 15 December 2012 - 06:00 PM

Take six months off and go on a trip around the world.

#20 NunSoFeral

Posted 15 December 2012 - 06:01 PM

QUOTE (MsN @ 15/12/2012, 06:00 PM) <{POST_SNAPBACK}>
Take six months off and go on a trip around the world.


Yep, me too.

#21 busymum01

Posted 15 December 2012 - 06:01 PM

I'd ask the bank to give it to me in $50 notes then fill up my bath and just sit in it with a glass of champers or two. Then I'd take it back to the bank and put it some high interest earning account....

#22 FeralRebelWClaws

Posted 15 December 2012 - 06:17 PM

QUOTE (busymum01 @ 15/12/2012, 07:01 PM) <{POST_SNAPBACK}>
I'd ask the bank to give it to me in $50 notes then fill up my bath and just sit in it with a glass of champers or two. Then I'd take it back to the bank and put it some high interest earning account....


LOL this is awesome...

I'd use a little for our wedding and then start renovating our house so that we can sell it ASAP. The renos would cost less than $10k though, so the rest would go in the bank to go towards the new house.

If I were you, I'd buy a car and then if you are in a position to, I'd put the rest towards buying a property.

#23 Gumbette

Posted 15 December 2012 - 06:20 PM

QUOTE (ZombieMum @ 15/12/2012, 06:43 PM) <{POST_SNAPBACK}>
Buy an investment property.

Somewhere where you'd be happy to live and rent it out until you're ready to move in.

#24 FeralDancesHere

Posted 15 December 2012 - 06:20 PM

Pay off my non-mortgage debts and then spent the rest on renovations.

Just having the other debts out of the way would free up so much of our money on a weekly basis.

#25 Squeekums Da Feral

Posted 15 December 2012 - 06:27 PM

QUOTE (busymum01 @ 15/12/2012, 06:31 PM) <{POST_SNAPBACK}>
I'd ask the bank to give it to me in $50 notes then fill up my bath and just sit in it with a glass of champers or two. Then I'd take it back to the bank and put it some high interest earning account....



Best idea ever!
Id do that, small holiday, rid myself of any debt and throw rest in bank




1 user(s) are reading this topic

0 members, 1 guests, 0 anonymous users

 

Share the little things that make you smile

We're giving away a Mountain Buggy nano, the ultimate travel stroller - and here are some of the great entries so far.

Toddler pleads for return of "stolen" nose

A two-year-old's reaction to a game of "got your nose" shows it doesn't take much to make a toddler cry.

The 15 photos new parents share (and five they don't)

From the first scan photo to the baby covered in cake at their first birthday party, there are 15 photos most parents seem to share - and some they don't.

Doctor sings first Happy Birthday to newborns

His job is to deliver babies, but this US obstetrician also has a unique way of celebrating the miracle of life.

Breastfeeding friendly café goes viral

A photo of a breastfeeding-friendly sign in a cafe has been posted to Facebook and shared by hundreds of mums around the world.

First look at the Bugaboo Bee3

The newest Bugaboo Bee ? the Bee3 ? offers a variety of improved features, including a much asked-for bassinet and a rainbow of colour combinations.

Childcare costs, not paid leave, the real issue for parents

Given the choice between maintaining their wage for six months to have a child, or having a reduced rate of pay for a time but a better deal on childcare when returning to work, there are no odds on what most working parents would choose.

Win a Mountain Buggy nano

We?re giving away the new Mountain Buggy Nano - the lightweight travel buggy! So show us the little things that make you smile for your chance to win.

We lost three babies in two years

Our first pregnancy ended the way we all expected it to - with a healthy, happy baby in our arms. What a true blessing he was, for we were not to know the heartache we were about endure.

Family turned back from doomed flight MH17

'There must have been someone watching over us and saying, 'You must not get on that flight,' says mother who narrowly avoided boarding the Malaysian Airlines flight which exploded in mid-air over the Ukraine last night.

The myths and facts about "normal" breastfeeding

When it comes to successful breastfeeding, there is a wide variety to what is "normal", according to new research.

Adorable Skeanie loafers for kids

Your little toddler or preschooler can now get their nautical on with a new range of classic loafers by Australian show brand Skeanie.

My baby is hypermobile

For months, I have been telling myself not to worry that Jasmin isn't crawling or walking. This week I heard the term hypermobile for the first time.

When you don?t bond with your baby

They say that there is no bond greater than the bond between a mother and her child. But for some women, the mother-baby bond takes more time and effort to develop.

Yumi Stynes: Having a baby after a 10-year break

After a long break, Yumi Stynes gets a reminder of the pain - and the pleasure - of giving birth.

Grieving father asks for help to Photoshop his daughter's image

When Nathan Steffel's daughter Sophia died from a liver condition at just 6 weeks old, he reached out for someone to create a beautiful image of his little girl.

Raising kids in a 'low media' home

Can you imagine a life without TV or computers? Some parents are opting for a low-tech, screen-free life for their kids.

Download now: Essential Kids Activity Finder app

Got bored kids? Quickly find the best activities for kids wherever you are in Australia with the Essential Kids app.

 
Advertisement
 
Advertisement
 
 
 

What's hot on EB

Win a Mountain Buggy nano

We?re giving away the new Mountain Buggy Nano - the lightweight travel buggy! So show us the little things that make you smile for your chance to win.

Be careful what you say, your baby is listening

The importance of speaking to your baby even if they are not old enough to answer back has been highlighted by new research.

The beautiful moment a baby was born at the side of a road

It's not where she expected to give birth, but mum Corrine Cinatl is delighted that her daughter's roadside arrival was captured in a series of beautiful photos.

Doctor sings first Happy Birthday to newborns

His job is to deliver babies, but this US obstetrician also has a unique way of celebrating the miracle of life.

The Nappy Collective starts new drive

It's that time of year when the dedicated volunteers at The Nappy Collective do their bit to help out mums and children in need - and they need your help.

Baby shower cake wrecks

From misshapen cake babies to questionable text, from odd colour choices to internal organ recreation, these are the baby shower cakes that taste forgot.

Photographer captures the beauty of adoption

The love of a family is usually tough to capture on camera. This is an exception.

Pregnancy progression photo ideas

Want to record your pregnancy as your belly grows? Here are some creative, fun ideas for photo shoots along the way.

The myths and facts about "normal" breastfeeding

When it comes to successful breastfeeding, there is a wide variety to what is "normal", according to new research.

Tin can craft and DIY ideas

Got a few old formula, Milo or coffee cans around the house? Use these fantastic upcycling ideas to create items for around the house and yard.

Dads meet their newborn for the first time

Emotional photos of two fathers meeting their newborn son have resonated with viewers worldwide, attracting thousands of Facebook likes and shares.

Skin safety isn't just a summer worry

Lax about the slip slop slap with your kids as weather turns cooler? Here's a reminder as to why we have to remain vigilant for our children?s future health.

Personalised baby gifts

We've scoured the internet to find gorgeous personalised keepsakes and nursery decor to record baby name and dates. They make great gifts for christenings, name days and birthdays! (All prices in AU.)

Creative sleeping baby photoshoots

See how some parents and photographers have captured sleeping babies in unusual positions and using different props.

DIY kitchen and food hacks

DIY your way to a better kitchen and make cooking easier with our clever hacks. (Some content reproduced with permission from mashable.com.)

Winter warmers for babies and toddlers

Your baby or toddler will be nice and snug in these beautiful and fun winter pieces. Most are hand-made or knitted, and they're all designed to keep your little one toastie - and adorable!

 

Mind, body, beauty, life

Making time for me

We look at your wellbeing, covering health, relationships, beauty and fashion, mind and body.

 
Advertisement
 
 
Essential Baby and Essential Kids is the place to find parenting information and parenting support relating to conception, pregnancy, birth, babies, toddlers, kids, maternity, family budgeting, family travel, nutrition and wellbeing, family entertainment, kids entertainment, tips for the family home, child-friendly recipes and parenting. Try our pregnancy due date calculator to determine your due date, or our ovulation calculator to predict ovulation and your fertile period. Our pregnancy week by week guide shows your baby's stages of development. Access our very active mum's discussion groups in the Essential Baby forums or the Essential Kids forums to talk to mums about conception, pregnancy, birth, babies, toddlers, kids and parenting lifestyle. Essential Baby also offers a baby names database of more than 22,000 baby names, popular baby names, boys' names, girls' names and baby names advice in our baby names forum. Essential Kids features a range of free printable worksheets for kids from preschool years through to primary school years. For the latest baby clothes, maternity clothes, maternity accessories, toddler products, kids toys and kids clothing, breastfeeding and other parenting resources, check out Essential Baby and Essential Kids.