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 what would you do with $50,000 |
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 15/12/2012, 05:19 PM
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#1
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Posts: 2,377
Joined: 19-August 10
From: brisbane
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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 
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15/12/2012, 05:21 PM
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#2
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Posts: 934
Joined: 21-October 10
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Lucky you!
I'm jealous 
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15/12/2012, 05:22 PM
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#3
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Posts: 5,302
Joined: 22-October 03
From: Melbourne
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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!
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15/12/2012, 05:24 PM
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#4
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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.
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15/12/2012, 05:25 PM
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#5
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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!
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15/12/2012, 05:25 PM
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#6
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Posts: 2,377
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From: brisbane
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I have no credit cards, no loans etc.
This post has been edited by *melrose*: 15/12/2012, 05:29 PM |
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15/12/2012, 05:27 PM
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#7
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Posts: 1,015
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From: Brisbane
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I have recently had $60K and we put it straight onto the mortgage and are redrawing to do improvements on our house.
I suggest buying the car and putting the rest into a high interest savings account for a deposit on a house later if that is what you are planning |
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15/12/2012, 05:27 PM
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#8
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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 |
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15/12/2012, 05:28 PM
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#9
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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 
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15/12/2012, 05:28 PM
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#10
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From: Perth
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Deposit on a house
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