What would you do with £50k?

[Thewholeplaceglitters]

Just that really. How would you spend it?

New kitchen and family holiday to somewhere hot and lovely.

Invest for uni fees

Spend?

Does that include save or invest?

1st I would buy a new bed and mattress (I still use the one I brought when I was with ex).

2nd pay of remaining debt

3rd a cheap holiday with dc

4th, save for a home.

I would book the holiday of a lifetime, and give each of my children £5k on the understanding they spend it on fun stuff and not everyday expenses.

Yes and in reality this is what we will do as in the very fortunate position of not needing the money now. But that’s why it’s nice to see what other people would do with it.

New kitchen and a really good family holiday

See to me it doesn’t make a difference. Money is just money. But I appreciate I’m coming from a very fortunate position of not having debt, already owning a home and so on. I’m also horribly boring with money so would never really do anything apart from the ‘responsible’ thing anyway.

Put it in a decent savings account until mortgage fixed rate is ended and then use it as a lump sum once I switch to a variable rate (with no ERC)! If no debt, still savings and invest the interest

10k in to each of our premium bonds and 10k in to rainy day savings. Boring.

You can't gift £50k without tax implications tho

I’d get every room in my house painted. We usually do it ourselves but I really can’t be arsed.
I’d book a cleaner for the foreseeable as again just can’t be bothered to be as fussy atm as usual. They could do all the windows, skirting boards etc . Proper deep clean.
Then £15k into this years isa. 5k each to the kids and the rest I’d keep in my current account to buy yarn and books. I’d consider updating my 2017 car.

Pay off my debts, learn to drive, buy a car and go to Disneyland Florida with the change.

10k new bathroom
7k new roof
Rest onto mortgage

Clear debt
Book long haul holiday
Finish niggly house renovations ready to sell
Car upgrade
Small shopping trip for a few nice things for us all
Rest (not much! ) in ISA

Enjoy, OP!

As long as you don’t die within 7 years, you absolutely can.

10k each into my 3 DC savings account. Rest on going to visit my sister and her family in NZ

15k each into savings for my boys, one nice (also our first ever) holiday, the rest into doing some long overdue DIY on the house.

Pay off debts, put some into savings, some for a holiday and then DH would want to spend the rest on cars!!!

I've been in this position recently, my DM is getting ahead of any inheritance tax changes by gifting me and my sibling £25k each, but has a non-strict home improvements caveat on it!
I've allocated (in YNAB)
£10k to new kitchen
£2k to new carpets
£8k on solar panels (tbc)
£5k is currently in my horse self insurance line as I only have basic coverage for my horses and ponies

I'm afraid I'm terribly boring because I'd put it all into my pension which is embarrassingly low atm.

Plumbing issues here, get a handyman in to fix loads of tiny things there’s never additional money for, change bathroom, get new scooters for the kids, put a swing up, new clothes for everyone, pillows, trip to see my sister (only 4 hours away but there’s six of us so we can only stay in places taking up two rooms. (Whispers- a cleaner for an hour or two!), then savings!

Pay off credit cards. Put some aside for DD at uni. Do up my son's kitchen (I own the house). If anything left get a cleaner in once every two weeks.

Probably start planning a new kitchen and spending c20k on one that will last the rest of our time in this house

How does £20k on home improvements tie in with her caveat?