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What would you do with £5000? (Nothing mortgage or savings related!)

(28 Posts)
Teabee Sat 24-Aug-13 14:26:48

Dh and I have been left £5000 by an elderly relative. It's not really enough to make a dent in our mortgage blush but we want to do something with its rather than it just be eaten into with day to day expenditure.

We haven't discounted a nice holiday but any other suggestions would be welcome!

Thanks

bishboschone Sat 24-Aug-13 14:27:57

Why not put it into a separate savings account until you think of something you need / want ?

tillyo Sat 24-Aug-13 14:30:46

I would have to use it for Disney holiday. Is there any work you need doing in the house? Or any hobbies you have always wanted to start but never had the money x

BackforGood Sat 24-Aug-13 14:36:03

Honestly, I'd put it towards the mortgage - it's lovely when you have chipped away enough small amounts to begin to see it start shrinking - I don't get that 'it won't make enough of a dent so we won't bother' thinking smile
but if it had to be on something frivolous, then it would be travel / holiday for me.

TeacakeEater Sat 24-Aug-13 14:40:43

Pay off some of your debt and save all that long term interest.

Sit and calculate the interest repayments on that £5000. Treat yourself long-term.

Mintyy Sat 24-Aug-13 14:41:28

I would put it towards taking my family to New York and an East Coast holiday.

Kidsarekarma Sat 24-Aug-13 15:00:33

I'd spend it on my money pit house. New bathroom probably and if any left over a new bed too.

blueshoes Sat 24-Aug-13 15:06:38

I would very sensibly put it towards the mortgage. If not, home improvements are the next best thing.

Maybe allow myself £1000 for a holiday treat for the family.

RubySparks Sat 24-Aug-13 15:08:38

Holiday or summerhouse for our garden.

givemeaboost Sat 24-Aug-13 15:23:15

Id spend some on a holiday and the rest in an isa as an emergency fund

elfycat Sat 24-Aug-13 15:39:18

I'd split it a few ways
ie

Something for the house or garden that will be enjoyed by you all. A statement light fitting or garden item for example.

A family treat - maybe a holiday, maybe life membership to English Heritage or similar for family days out.

Something off the mortgage or into a rainy day fund - because it's sensible, and you were proportionately sensible.

BrownSauceSandwich Sat 24-Aug-13 17:16:40

New bathroom!

Teabee Sat 24-Aug-13 17:39:15

Backforgood -it's not that we wouldn't put it to the mortgage because it won't make a difference but rather we want to do something special with it. We try and overpay our mortgage every opportunity we can. We are thoroughly dull sensible about that sort of thing usually!

Cloudkitten Sat 24-Aug-13 18:00:38

A great holiday somewhere different/luxurious
Piano
Maybe piece of jewellery that can be enjoyed and handed down. Diamonds are good. Rolexes tend to hold their value very well too as do some Cartiers. You can get advice on this. Would steer clear of modern fashion brands, these do not hold value.
Home improvement that you will all enjoy (new kitchen/bathroom/garden makeover).
A statement piece of furniture that you can keep pretty much for ever - Chesterfield sofa (modern varieties are amazing and can be recovered time and again).

I would go here on holiday.

And I would have my eyes lasered so that I wouldn't have to wear glasses any more.

Jan49 Sat 24-Aug-13 20:00:10

Save most of it but spend some on an extra special holiday. Or spend it on home improvements.

Beachbum48 Mon 26-Aug-13 13:32:07

Could you spend it on experiences over the next five years? Every year at a designated time do something you have never done before.

So maybe go and learn to scuba dive, another year learn to drive a boat, another year go and stay one night at the Ritz in Paris, the next year buy a piano and learn to play or whatever it is you would love to do/try/experience.

I think it would be lovely to do things completely out of the ordinary and which wouldn't happen unless you were left that money. If I was leaving money to someone I would love that idea!

Cookiepants Mon 26-Aug-13 13:35:24

Holiday and a fabulous no expense spared Christmas?

LifeofPo Mon 26-Aug-13 13:40:42

Message withdrawn at poster's request.

OfflineFor40Years Mon 26-Aug-13 14:09:18

Was going to suggest the same as LifeOfPo - some good furniture that will last you a long time and a painting; you could one commissioned if you can't find anything you like.

Arisbottle Mon 26-Aug-13 14:11:47

Buy some art

I would go to Sri Lanka on an amazing holiday.

Weegiemum Mon 26-Aug-13 14:23:52

I'd give most of it away. If it was unexpected and unlooked for,then I would rather it did good for someone who really needed food/shelter/safety.

Dh's DGM left us money. We bought an item to remember her by, and gave rest away.

Cloudkitten Mon 26-Aug-13 15:20:56

weegiemum who did you give the money away to? <baulks>

Teabee Mon 26-Aug-13 18:00:08

Lovely idea Weegie - however the entire estate of the relative has gone to charity so I'm going to assume that this bit of money is just for us!

Beach bum - I LOVE that idea! I'll put that to dh.
Also, really love the art idea. Wouldn't know where to start on that front, any ideas?

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