Active discussions

Help end medical misogyny. Sign our petition.

Help end medical misogyny.
Sign our petition.

Sign the petition

Please or to access all these features

Talk
Chat

Join the discussion and chat with other Mumsnetters about everyday life, relationships and parenting.

Original poster

£10,000.......

50 replies

BertrandRussell · 31/10/2018 07:27

What's the best thing to do with it? No mortgage or debts.

OP posts:
GeorgieTheGorgeousGoat · 31/10/2018 07:30

Is this a new thread trend? Lots of different amounts of money in the title and we have to help the OP spend it... Grin

Original poster
BertrandRussell · 31/10/2018 07:34

Oh sorry- I haven't seen any others! I've just had a lump sum from an old pension, and am musing about what to do with it-it's not enough to be worth investing, I suppose but too much (obviously) to fritter.

OP posts:
Eminybob · 31/10/2018 07:37

Well I have a mortgage and debts so that’s what I would do with it. But in the absence of those:

Big holiday
New (but 2nd hand) car
Landscape gardener
Extended maternity leave

(See where my priorities lie, holiday being at the top of that list Grin)

Eminybob · 31/10/2018 07:38

Oh, new boiler and central heating system (if I must)

HeronLanyon · 31/10/2018 07:38

Depending and so many things - age/children who may need some help/care for elderly parents/pension situation/housing condition/renovation etc etc !! If it’s really completely unencumbered money ? I personally would try to put 50% away. Then splurge the rest on some bucket list travel or similar - something I would regret not having done where it had become possible. Oh also a few standing order memberships/support either for you or in family names for meaningful charity/organisations you don’t yet support. Have fun !

8FencingWire · 31/10/2018 07:41

You don’t have to spend it Grin.
Keep 1,000 in an easy access account, for ‘stuff’.
The rest, I would put half in savings, half I would invest (shares).

kaytee87 · 31/10/2018 07:48

Depends on how old you are and what your financial situation is. Any home improvements required?

Ilovetolurk · 31/10/2018 07:53

You could do 5% of the spending ideas suggested in the £200,000 thread

Ofitck · 31/10/2018 07:56

Too many variables! If you dont need it, do you know anyone who does? We would never have been able to buy a home without parents help, for example.

Id sort my debts and mortgage (although that wouldn’t cover it!) then get a better family car, holiday and save the rest for DCs.

BarbaraofSevillle · 31/10/2018 08:26

Can you put it into other pensions? If it's from a pension, are there any tax implications if you take it as 'cash' rather than put it into another pension?

Otherwise, I'd put it into premium bonds for now.

I don't necessarily link 'having money' and 'spending money', they don't feel connected, to me. So in your circumstances, I wouldn't be thinking 'what can I spend it on', I'd just do something useful/low risk with it (ie pension, premium bonds, fixed term or instant access savings) and then carry on spending as normal and if a use for that money was identified, I would use it.

But maybe that's because I don't covet 'stuff', cars etc and don't enjoy planning and sorting/doing home improvements.

That sort of money would be good for a big but uninteresting project like new roof, electrics, windows, driveway, landscaping etc, if that sort of thing needed doing.

nornironrock · 31/10/2018 10:05

hifi
bike

I'm going to need more than £10k.......

Taffeta · 31/10/2018 10:09

A fabulous holiday. Something to remember on your deathbed. [morbid]

pumpastrotter · 31/10/2018 10:09

Big bloody holiday in Hawaii or some lesser known paradise islands

BlackeyedGruesome · 31/10/2018 10:11

isa.

AdamNichol · 31/10/2018 10:17

18 months train season ticket into London?

RunSweatLaughAndLatte · 31/10/2018 10:23

Savings, then keep adding to it every month until you have a deposit for your own property.

BasiliskStare · 31/10/2018 15:29

Unless you have a £10,000 "dream" ( given no mortgage or debts) so - i.e. all working well currently , I would put a small amount aside for "treats" and then, if you have DCs I would put a chunk away to help them out as and when they might need it. But that is assuming , no mortgage no debts means no current financial worries & e.g. the car giving up or the boiler going wrong would be irritating rather than a huge problem.

BasiliskStare · 31/10/2018 15:47

By the way - my post made on the assumption other pensions will do what you need them to do.

marvellousnightforamooncup · 31/10/2018 16:02

Seconding ISA.

EmmaJR1 · 31/10/2018 16:04

New kitchen!!

AamdC · 31/10/2018 16:37

Im not sensible enough to put mine into a savings account so personally i would put that money to a holiday, refurbish decorate the house or a car?

Sgtmajormummy · 31/10/2018 16:57

Kit out a hobby room and make it your inner sanctum. A place to read, one to be creative and one for a project you’ve always said you’d do.

ItsJustTheOneSwanActually · 31/10/2018 16:58

save it till you need it.

Original poster
BertrandRussell · 31/10/2018 17:49

Thank you all. The trouble is that I am older than most of you, and so I actually have many of the suggestions- a car that works, reliable heating and a nice kitchen and my own space.

Anyone in a similar position, I can’t stress enough the utter joy of a room -or at least a space- of your own. It’s something that men seem to get more than women do, so push for it if you get the chance.

OP posts:
Bumply · 31/10/2018 19:40

Premium bonds.

Chance of a win. Still have your stake if you don't. Easily accessible if something crops up in the near future.