Would £100k be a life changing amount of money to you?

[Rebelwithallthecause]

And if so how would it so?
What would it go on or towards ?

Probably for my DH, if we came into 100k he would retire (he could retire now but that would be a buffer and enable us to maybe buy a business or something to earn us a bit of extra income.

Yes! It would pay off the mortgage and all debt and leave us enough for a new car and a nice holiday.

Absolutely, and it’s strange to see people saying no. Different worlds I guess. For me, it would pay off most of our mortgage (3 bed semi, cost £115k and we paid 5% deposit) and that would change our lives.

Yes, i would use it to buy a bigger house and keep my existing house to rent out to a family member. But it wouldn't mean I could quit work or anything!

I think it's all relative
I think for a lot of people it would help with life but not be life changing
I'd say for an amount to be life changing it would need to allow you to leave work or some other major change
It would make a dent in a mortgage but most people would still need to go to work and life wouldn't really change as such just be a bit easier

That’s what I’m thinking Spuds

Moving to a bigger house, buying a newer car, taking a more expensive holiday or extending the house just gives me bigger/newer things but doesn’t mean my daily life changes.
I could pay down my mortgage but I’d still have a mortgage

I'm so indecisive
Not sure if we should buy a much more impressive property so still have a hefty mortgage
Buy a less impressive property and have a little mortgage or even be mortgage free
Either way we deffo want to move from where we are

Well it would mean I could get myself out of debt left over from escaping my abusive Ex which would mean I no longer have it looming in the background and stop bailiff letters/visits (despite being in arrangements) - so in that sense, yes it would.

You see I think a larger living space would be life changing for us! Less stress as we’re all living on top of one another. More room for DS when it’s grotty outside. Storage space so things aren’t getting squished into tiny spaces and spoiled, or just being lost and generally inaccessible. No struggling to do everyday things like load the washing machine (which currently involves moving things out of the way before you can get to it) or falling over each other crammed into a tiny back porch to get wet boots and coats off. It would just reduce some of the small everyday stresses that take the edge off enjoying life. No, we wouldn’t be able to give up work but it would make everything a lot easier and that genuinely would change life for us, very much for the better I think.

We could put the fridge in the kitchen... at the moment it’s in the utility room with the washing machine and every time you need something you have to go through the back door (letting in freezing draughts in the winter) and try and carry as much in one go as you can without falling over the dog...

Yep, it would be awesome.

Yes. That amount plus my savings would allow me to buy a small flat in my home country, no mortgage needed.

I would feel more secure to return if my relationship here falls apart if I knew I had a place for myself & ending up homeless wasn't a risk.

Oh sorry. I looked but it didn't show up earlier for some reason

It would clear our debts and pay mortgage off.

Yes it would pay off DH's debt and enable us to move to a nicer area with a bigger garden. Once the debt was paid off we would have a much higher standard of living/able to save for an early retirement. We will get there in about 3-4 years time but would be lovely to have that worry off our shoulders with a recession coming.

Maybe not forums but for DD it would be, it’s enough to pay for private school in a lump sum.

Yep! It would allow to us to upsize our house mortgage free!

Yes. It would clear our mortgage and enable us to do the improvements to the house that need doing to make it a bit more finished. That is nothing extravagant but just new double glazing and upvc front door and porch. Maybe enough left to get new beds.

So yes it would improve our quality of life greatly being mortgage free and living in a better standard property.

It would mean I could retire a few years earlier.

It would massively reduce my mortgage repayments which would mean I could go to a 3/4 day work week instead of 5. I'd have time to actually take up a hobby or two. Honestly, that's the dream for me! Some day....

You see, I think having no debt/mortgage would be life changing for us. It would give us so much more security, we could afford to take risks job wise, or alternatively cut back a bit on work and spend more time with DD.

Yeah, we wouldn't be able to stop work and travel the world, but sometimes small things can make big differences!

I'm autistic and extremely poor as a result, no pension, never able to retire, tiny savings etc.

It would means a roof over my head for the rest of my life and the chance I won't live in poverty for the rest of my life.

Hmmm, it would pay off my mortgage, give my two dc's monies each toward a property instead of renting , buy me a newer car and give me a years salary - HAPPY DAYS

Not really life changing, we would put probably £80k into the mortgage and use £20k to get improvements done around the house. So we wouldn't really see it day to day (although we could get the mortgage paid off in 10 years rather than 20).

Yes, I would use it as a deposit towards our next house. It would mean being able to buy somewhere in the country, away from other people. That would definitely be life changing for me.

Potentially. It would pay off half of our mortgage, and mean that I could re-train to do something different.