You just got and unexpected check for $1000....What would you do with the money? I could think of a lot of things to do for myself but considering where it came from I want to do something good.
Thank you all for the input. I had already decided to give 10% to my new church. The rest was up in the air. You have given me a lot to think about. Prior to this I had already sent two boxes for Operation Christmas Child. There is a situation with a family in need that my husband and I had agreed to help. I do have a new business I was thinking of putting some extra funds into. I am just so bad at spending money on myself....My husband has to insist I go get my nails done (which only happens about once every six months and usually because there is an occasion that triggers the need) Again, Thank you for the help! Happy Holidays everyone!!
I'd use half and put it into savings and take the other half and give it away. If it were around Christmas time, I'd probably do a bunch of angels, off the angel tree.
I would bank half and donate half. You could have a lot of fun with a holiday donation. For instance, if you chose a family or child's wish tag off of a tree, aim high with what you give. For instance, if a child asks for Legos, get a big, cool set. Or a senior asks for a blanket, get a really plush one and throw in a gift card. Choose a charity/cause that will be personally rewarding to you. It doesn't even have to be holiday-themed.
This just happened to me, sort of... I spent it on needed car repairs (new batteries, brakes, etc.), FOOD for the pantry, charities - Angel Tree, Habitat for Humanity, and SoldiersAngels.org. What is left is going towards Christmas
You could pay a bill or two. You could help w/ your Christmas shopping. You could donate some or all to a charity or two. Or do any combination of these...pay a bill, buy a few Christmas presents, and donate some of it to (or buy some gifts for some kids at a orphanage or school or some type).
i like the idea of donating some. i would probably do 1/3 donation, 2/3 savings for our trip to disney this year. we are not the types to have extra money and this trip is very special to my husband's family, so we are working really hard to save up for it. i would definitely put it in savings.
if you don't have an emergency fund- there you go! Just set it aside and dont' touch it except for true emergencies- It will save your butt!
~C.
well if i personally just got it, i'd pay bills... but, that's just me. if you want to do something good, give it to a charity. or adopt a family for christmas and pay for everything, that type of thing... another thing you could do is invest it for your children's college education or something like that. that would count as good woudlnt' it? anyways, good luck finding something to do with the money.
Put some into savings. And then, I've always wanted to be able to do this, I'd do something anonymous for a family with kids in need. There is always someone in your neighborhood that may be struggling with money around the holidays. You could either pass on the the money anonymously with a note saying to help buy gifts for their children or if you know the family well buy some gifts for their children and wrap them with a label for each child and drop them off on christmas eve from santa, or you could buy some nice food items for a holiday dinner like a ham or turkey along with other items to go along with their dinner and drop it off a week before christmas. I've always wished that I was in a position to help someone have a better christmas.
Have fun coming up with idea. It's always fun to do something for another person.
I would follow the Dave Ramsay money steps!
1. $1000 in the bank (for a baby-sized emergency fund)
If you already have that, then:
2. Pay down debt (smallest to largest)
If you have 0 Debt, then:
3. 3-6 mos. expenses emergency fund fully funded
If you already have that, then:
4. open an IRA & fully fund
If you already have done that, then:
5. Pay it on the principal of your house
savings savings savings.
I'd save it. Think delayed gratification.
When you get surprise money, inheritance, etc......don't make any major decisions for at least a year.
I know, $1000 is not that much to wait a year but take time to clearly decide where it needs to go.
We are savers, believe in no debt/have no debt and delayed gratification.
Me.. pay bills. Buy food.
I think I would keep half for myself, and otherwise I would pay it forward! If I was out at dinner and saw a nice family out eating, I'd pay for their whole table, but not let them know it was me. I'd pay for the car behind me at a drive thru, or pay for someone elses gas, Etc. If I knew of someone specific that was truly in need, I may leave $100 on their porch or mailbox with a note that says Merry Christmas! Or go to the local energy department and pay for their electric bill.
Whatever you choose to do, I'm sure it will be great, even if you spend it all on yourself! Make it count! don't blow it. Buy something great that you would never normally buy. Spend half on a day just for you! A day spa, full day package is about $300-400, but so worth it!
Tithe and then into savings
T.:
How wonderful for you!!!
I would consider donating a portion of it to a charity or a local shelter, food bank. They would VERY MUCH appreciate the surprise funds!
Take a friend you know is having a hard time shopping - for food or clothes and pick up the tab - nothing elaborate - but something nice.
Pay for the gas for the next person at the gas station...
What I've done in the past when I got unexpected $$$ is when I was grocery shopping - let the person behind me with a few things go ahead of me and pay for it. In the three times I've gone it - one W. cried, another man got flustered but appreciated it and the other just smiled.
Have fun!
I'd pay down some debt. And considering how much we have that's about all it'd be able to go to.
We would give it to my SIL and her hubby, as he has been jobless for 2 yrs and they have 18 month old twins, and live in the very expensive Bay Area. $1000 wouldn't mean a lot to my hubby and I, but it could really help out my SIL's household.
In this order..
put $400 into savings
pay a few bills
make a donation
buy a few extra Christmas gfits
This happened for each of family members last year. We took some of the money and sponsored a family for this Xmas. I had so much fun shopping for them and feel blessed to be able to do it. We turn in the presents tomorrow and I cant wait.
With the other money, we bought things we normally wouldnt buy ourselves (I bought a Kindle) and we spent the money on bills.
I agree with tithing, pay down debt (use Dave Ramsey's Debt Snowball! - if you have any debt), put it into an Emergency Fund (if you don't have one for six months worth of living expenses already).
It would depend on my situation. In my current situation where we've been struggling to make ends meet, I would use it to get caught up on bills and stock my cabinets/freezer.
If we were in a solid situation already, I would use it to make someone else smile - paying someone else's utilities without telling them, buying groceries and leaving them on someone's porch who I knew needed help...
Hi T. :-)
I'm not sure if you are actually asking a question for suggestions of what to do with $1000 that you actually received unexpectedly? If so, I do know of a mom who has a brain challenged child.. LOTS going on with this child requiring LOTS of medical intervention.. he has a site and donations can be made there.. let me know if this would interest you.. he is adorable!
hugs,
A. R.N., Energy Medicine Practitioner
Pay down debt, the one with the highest interest rate. That will make the money go further.
Well if you decide to donate any of it, I know the perfect family! And no, it's not me. Lol.
