If you were given £75,000…

[Spicykitten]

What would you do with it?

Clear debt, book a holiday, put a large chunk in savings

Buy a better car for DH and do some house & garden renovations

Get my teeth fixed. Not had a dentist for 6 years and they’re all breaking and horrible

Have a very expensive holiday and give the rest to my son

Pay off our mortgage and buy a tri ride for my wheelchair using kid

We are quite fortunate to be mortgage free however we have a small lump sum saved for an extention work and special furniture for a ground floor adapted bedhroom and wet room for DS8 who is disabled, we have been approved for the DFG grant of 30K but we can't claim any top up benefits because we have that lump sum to pay for most of the work but can't use it to live off so we have been in this conundrum for about 2 years now, it would be nice to just get the work done ASAP and that 75K would help cover the majority of costs tbh.

Pay it off the mortgage if I had one.

Clear all the debts then put the rest into a deposit for a bigger house.

Get a new bathroom for me, a new bathroom and kitchen for DS and DIL and put whatever was left in my tiny 50p pension.

Fix all the leaky flat roof issues, replace rotten decking before someone falls through it, change both cars, add a room above one of the flat roofs, sort the garden, savings/investments.

New kitchen £20k , £50k in the PB and £5 on 2 holidays.

Pay off my mortgage/car loan. Then use the 20k left over to get the work done that needs doing in the house.

I'd then use the money I pay for mortgage/car loan to have an emergency savings.

After saving for a year, I'd split the amount and put 1/4 into my pension. The rest would be for holidays/fun stuff.

Boring, but planning for the future. I'm mid forties.

Pay off credit card debt. Split rest between ISA and premium bonds and pay lump sum off mortgage with it before we need to renew (currently still on lower mortgage rate than savings are paying.)

garage needs rebuilding ~ 10k
upstairs bathroom and kitchen are a bit shabby so would replace ~20k
replace the conservatory roof to make it a more usable room ~10k
pay off credit cards ~5k
nice family holiday - last before DS1 goes off to uni ~10k
use the rest to help support 3 kids through uni

It would clear the balance on our mortgage, so do that.

Though I'd be tempted to spend 15k on a family trip to Disney and use the 60k to just bring down the mortgage as we could clear the balance in a few years after that.

40k off the mortgage, 20- 30k new kitchen (was horrified when I looked at the prices for that work!) then 5k for a chilled holiday.

£40k off mortgage (max we can pay in one year).

£20k various bits we want to do on the house (update bathroom / properly board loft / new front door)

£10k savings

£5k awesome holiday

I’d start by spending 18k on a holiday.

Add it to the deposit for buying my right to buy council flat.

USA road trip. Maybe a birkin

Nice holiday then invest it. Historically you should average around 7% a year in the stock market so pensions and ISAs, to keep it out the taxman’s greedy little paws.

Our mortgage is fixed at 3.47% so better off financially investing rather than paying a chunk off in my opinion.

Use BRRR model to invest in property.

£40K off mortgage, £10K to each DC savings, lovely holiday!

12k loan paid off
3/4k credit cards paid off
6k into savings for kids
~5-10k taking my dad on holiday as he's treated us to many holidays
Rest would be used to move to a bigger house

Do you still think property is a good investment? It’s something I would’ve looked at historically but think the tax changes mean it’s not worth doing anymore. Happy to be told I’m wrong.