Active discussions

Meet the Other Phone. Only the apps you allow.

Meet the Other Phone.
Only the apps you allow.

Buy now

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

How would your life be different with 150k in your account?

119 replies

mikado1 · 01/10/2023 17:24

Sunday daydreaming here....

I would probably get a new, second hand car, start a healthy holiday fund for the future years and spend a chunk on a really good coat/shoes/bag and then... maybe I'd have to be sensible and save/invest.

OP posts:
StEtienne93 · 01/10/2023 18:29

I'd pay off my mortgage and car loan. I'd be £750 better off every month. Considering I'm not a high earner, that would change my life!

PurpleMonkeys · 01/10/2023 18:32

I'd pay off the small amounts I owe, total about £3k
I'd be debt free, no mortgage or credit cards or overdraft... that'd be cool.

If I could use the rest to buy some land or a bit of forest etc, I'd do that and I'd have somewhere I can go and camp and be away from everyone etc.

mummy21blueeyed · 01/10/2023 18:34

I’d buy a car, put a large amount in savings for my daughter for when she reaches 18. I’d probably get my teeth done 😂. Put some in a pension for the future im only 27 though 40 more years 😑 and go on holiday and make sure all debt was paid off and treat my mum. I’d also do some home improvements.

ZekeZeke · 01/10/2023 18:34

DH is due to inherit around €200k in the next 12 months, just waiting on the house in question to be sold.
We met with a FA for free and his advice was.

  1. Pay off mortgage (we have none).
  2. Pay off any loans you have (we have a small home improvement loan but I'm due to finish paying foe it in February).
  3. Put maximum contributions into pension (DH can put 40% of his salary into his pension) until retirement age (approx 4 years for DH).
  4. Saving: put a lump sum into savings
  5. Home improvements- put a lump sum away for home improvements.
  6. Put €6K away each year for each DS. This is the max you can give tax free pa to each.
  7. Fun/Holiday
Chickydoo · 01/10/2023 18:35

Add to my retirement savings

LadyFlumpalot · 01/10/2023 18:42

I'd like to say I'd do something sensible, but in reality I'd probably buy a Nissan R35 GTR and spend the change on fuel and insurance 🤣

I'm not very good with money or making sensible life choices.

Cotswoldbee · 01/10/2023 18:43

friedplantain2023 · 01/10/2023 17:48

You shouldn't have more than£80000 in your bank account as its not insured if the bank collapses

I very much doubt they have it all in a single account/bank, probably spread across several but when totted up is together classed as "money in the bank". 🤔
Certainly that is what we have done.

Another £150k would be lovely but would make very little difference to us other than OH giving up their 2-day a week PT job.
Both retired early (57 & 55) with no mortgage, depts or loans etc and sufficient income/savings to live our lifestyle of choice doing all the things we want to. The money would just increase our savings/investments for old age (which is never a bad thing).

Topofthemountain · 01/10/2023 18:43

I don't feel rich at all; but I do have the great privilege of not especially worrying about money either.

This is the situation for us. In the past three years DH has inherited from his Mum and cousin. So far we have updated the conservatory, new roof and new car. We should maybe pay off the mortgage but it is so small, so we haven't yet.

The main thing is that we don't have to worry, when the freezer, tumble dryer and dishwasher all went in a very short space of time we could just go and get a replacement. Earnings aren't massive, so day-to-day we aren't extravagant, but just knowing that we could ride most things out is a huge privileged position.

Yocal · 01/10/2023 18:45

Bump my emergency fund up to £30k

Pay £50k down on the mortgage

Spend £30k on an electric estate car to last us as long as it keeps running.

Put £40k to one side for a lifetime of family holidays. DD is 4 - so Lapland, disney, etc

Then our income can be used to invest in pensions, mortgages and living expenses.

EveSix · 01/10/2023 18:46

The way I'm feeling today?

Buy DP out of the house.

Oblomov23 · 01/10/2023 18:48

I'd buy an apartment in East Ibiza near Santa Eulària, or South Portugal near Alvor.

Meeting · 01/10/2023 18:48

I don't think my life would be any different to be honest. Yes I could obviously find ways to spend it but I'm happy with the way I live right now and wouldn't want to change anything.

Danikm151 · 01/10/2023 18:49

Go on a proper holiday. Get the kitchen done, pay for a decorator and go back to uni. Then I’d be set up for a better career once it runs out.

MapelMoon · 01/10/2023 18:50

I would take time out to start the business I'm dreaming of. I would love it so much.

Girliefriendlikespuppies · 01/10/2023 18:51

I'd pay off the mortgage or maybe look to move house.

I'd keep 50k to help dd through uni.

I might get another dog 😬

I'd definitely plan a nice holiday.

cushioncovers · 01/10/2023 18:51

I'd pay off the mortgage and then I could drop a day a week off work and just do 4 days. Bliss.

stayathomer · 01/10/2023 18:56

Would be able to pay bills without worrying, could help kids when they go to college, could help my sister out and would probably go to visit family more. Also would shop in next or m and s!!!

thefirstmrsrochester · 01/10/2023 18:58

I’d get my teeth sorted, buy one of those garden pod things, and divvy the rest up between my young adult dc.

Jobseeker19 · 01/10/2023 18:59

I'm homeless in temporary accommodation so I would find somewhere to buy with that money and take a deep sign of relief.

mondaytosunday · 01/10/2023 18:59

Id pay off my mortgage, any credit card debt, put £5k each in my kids savings accounts and redo my son's kitchen and bathroom (I own the house) which is in rough shape. If any left over I'd consider replacing my front uPVC windows with composite sash ones, but doubt they would be.

milafawny · 01/10/2023 19:02

I dont have a bed i sleep on the floor, none of my windows have curtains or blinds, we dont have lightshades or any soft furnishing, only the kids bedrooms are decorated, i dont have a car so have to walk the 2 miles to and from work around my 13 hour shifts which sucks in the winter months, my hob only of them half work, our fridge freezer is far too small for a family of 1 adult and 3 teens, and my washing machine is way too small too so ends up costing more as i have to run it way more often.

It would be life changing for. I could sort all of those things immediately. Then i would take my kids on holiday. It will never happen. Day dreaming abut having it is a nice but somewhat depressing activity.

FortunataTagnips · 01/10/2023 19:05

I’d keep 50k in my savings account, to cover possible house repairs and other incidental stuff. The rest would go into my pension.

SherbetLemonn · 01/10/2023 19:10

I’d use the vast majority as bloody good deposit on a house, add in our current savings too. I’ve got my eye on one at the moment which is completely out of reach for us right now but is the absolute dream. Massive garden, four bedrooms, beautiful location, all of it.

TinyTeacher · 01/10/2023 19:19

Pay off the morgage - seems like most of us would!

Put about £40K aside (would be leftover after mortgage) towards an upstairs extension as we're going to be pretty squashed in a couple of years otherwise!

Basically it would make a massive difference to day-to-day living, but probably wouldn't be used for anything fun like holidays... but I suppose in the long run might mean we find afford those as we'd be mortgage free.

Topofthemountain · 01/10/2023 19:43

@milafawny Check out your local Facebook free pages, often people are giving that type of things away. Locally I'm in a couple, one is a lot nicer than the other and is a genuine way of passing things onto others.