What would you do with £50k?

[Thewholeplaceglitters]

Just that really. How would you spend it?

Pay of any debt, have a nice holiday, home improvements and savings!

Probably put into stocks and shares.
There isn't anything I need or want at the moment.

Ohhh…you know 50k would change my life. Totally.

I’d pay off the last 10k of my post divorce debts

Put down 30k for a house deposit / into high interest savings to put towards deposit for my first house

Have 10k for fun with DS. I’m a single parent and although I give him everything he needs, and try to give him as much as I can of what he wants, it’s really hard going as a sole breadwinner, and I feel like I get so little quality time with him (always working). I’d take him on a lovely holiday. Would 10k get us to Japan? We’d both love to go there.

that’s it spent I suppose!

Replace my knackered mattress.
Fix or replace my en-suite.
Replace my knackered oven.
Put money aside for DS2s driving lessons and first car insurance.
Buy a new car (new to me anyway).
Pay someone to chop down the overgrown garden.
Put some money aside for pension.
Get a kitten (or two)

Probably spent it all by now

Pay off debts.

Book a cleaner.

Take a holiday.

Conservatory on our little 3 bed, a nice holiday and two pedigree cats Lucky you, what will you be spending it on? ☺️

Either pay off some/all of the mortgage or get a kitchen extension and downstairs loo.

Spend it before Reeves grabs it

Buy a new front door as ours doesn’t shut any more.
Buy new back doors as they don’t lock any more.
The rest would be used to top up our monthly income as we currently have more outgoings than income.

Nothing we currently want or need however it would let my OH retire early.

I retired at 57 a couple of years ago but OH is 3yrs younger than me and said he will continue working part time (2-days a week) for another couple of years.
£50k would more than cover his PT wage for that time so he could go now and we could enjoy total freedom. We don't spend his income but instead put it into his pension so it would boost that.

New windows and door £15k
£5k each for my 2 kids to buy a car
£10k on a new bathroom
£10k on a family trip to NYC
And a bit left over

Kids university fees I think

Where has the £50K come from? That might affect how I'd spend it.

I’m interested to know how you might spend it differently depending where it had come from. Do you mean eg inheritance you might feel you needed to buy a keepsake type thing?

Not inheritance & not illegally gained. Just a gift.

Set enough aside to clear the mortgage once the early repayment penalty period elapses.

New windows, doors, and garden fence.

That would probably eat all of it.

£50k would do so much for me.
Pay off debts.
New windows in the house as these all have failed double glazing which is years old and draughty.
Help my son who is at uni.

same as a lot of others, paying debts, new door and windows and a holiday.

12k: Some redecorating
2k: An antique bracelet I have my eye on
2k: Tree surgery and garden
4k: Car Insurance for each of the DC for this year
10k: Holiday
20k: Pension

Enjoy OP!

Pay debts - £12k
Holidays for next year - £5k
2 new to us cars - £10k
Life time ISA for retirement - £8k
Do up Bathrooms - £5k
Save towards moving - £10k

£10k on house repairs and decorating.

£4k on a course I'd love to take.

£2.5k gift to DC savings.

Trip to Italy.

Rainy day savings.

Oh how I would love to have £50k! I'd get a new kitchen and a new car. My car is fine but is getting old and the mileage is ramping up so it's going to get expensive soon. And my kitchen is so dysfunctional, my cooker is shite so I have air fryers and slow cookers and all sorts of gadgets to make it work, it's ridiculous. The rest would go into a savings account for all of those things that come up that you can't afford. What a wonderful position to be in to have savings.

I LOVE thinking of things like this.

My current position is I own (mortgage) a small house, I bought as FTB last year and risked going to maximum. I've just cleared the credit card I used to make moving in purchases and apart from student loan, have no debt but equally no savings.

So, I'd spend about £5k more on house & garden, things like an induction hob and new sink & fittings, and someone to do a bit of landscaping in the garden. I'd pay off my student loan (£10k) so it is cleared, I hate the debt and mine doesn't get written off til I'm 65. I'd stick £10-15k in savings/ISA, as a mix of accessible and designated funds. Then the rest I'd pay off my mortgage.

With the pressure off on cash flow as I won't need to work so hard at plugging away for savings any more, I'd be able to be more generous on giving to my family, I'd reinstate a couple of charity memberships I let go and perhaps - biggest luxury of all - get a cleaner!

Do up the house a bit to sell, relocate abroad (most of that money would probably go on bringing the dog).

I am fed up of life here. Work hard, only get poorer all the time. Have personally witnessed several violent crimes in the last two years. It's a shit place to bring up my kids. And I never thought I'd feel that way about England.

It does make a difference where it comes from.

If inheritance I’d do something sensible like some for the kids savings or uni fund, and rest against the mortgage or into pensions. Plus something to remember the person by.

If a gift from a parent, even more reason to be sensible with it.

If a lottery win it would be partly used for an amazing holiday. And some house things. Then some sensible things.