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If you had £500 to spend on whatever you wanted...
Jewellery. Probably a bracelet. Nothing 'designer', but something timeless I could keep for always.
When my grandad died my mum gave me £350 of her tiny inheritance. I bought a very fine white gold chain set at intervals with tiny diamonds. That was 25 years ago. I still wear it and one of my DDs will have one day.
I would get a few things out of it rather than spend it all on one thing. A piece of jewellery that will last your whole life, not necessarily diamond, but something everyday but a little bit special. Then something you want or need now, a nice leather jacket or coat doesn't have to cost the earth, I have a few leather jackets and the ones bought for around £100 are just as good as the all saints one which was over £400.
We recently moved house and we really need a new bathroom so it would probably be put towards that, or decorating ds room. But I'd I was to spend it just on me I would by jewellery. My weight changes so clothes would be no good and bags, shies etc go out of fashion, so it would definitely be jewellery. Something timeless, probably either earrings, necklace or watch.