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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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Original poster

To wonder if £10,000 can change your life?

111 replies

Arabellasmella · 03/09/2012 11:25

Around 6 years ago when life was alot rosier my sister got married and my parents gave her and her partner and me and my partner £10,000 each. At the time I was on maternity leave and our mortgage was quite high, so the money came in handy, but apart from new windows, computer, settee and bed I can't think what we actually did with it. It has long since gone anyway.

Now things are a lot tighter I keep thinking about what I'd do if we had the chance again. This is an imaginery game, but can you actually turn 10k into something more? Start a business? Invest in stocks and shares? My best imaginery plan so far is to buy a static caravan so that we could ahve free holidays and rent it out for a bit of income. But I'm sure there must be better ideas out there. What would you do?

OP posts:

Mrsjay · 03/09/2012 11:29

10k would give us enough for a deposit for a bigger house so where it isn't life changing for some it certainly can give others a helping hand

dont buy a caravan been there done that didn't get the income we hoped for bought on a haven park

Callisto · 03/09/2012 11:30

£10,000 is definitely not a life-changing amount, but yes, it is enough to invest in a business. In fact I did just that with around the same amount of money last autumn and we have certainly reaped the rewards this year. Again, it isn't life changing (it has meant a few more pub lunches and an extra holiday) but in years to come the business should provide a really good income.

I have to say though, that the business already existed but as a very part-time affair. The money allowed me to expand what I already had.

Gumby · 03/09/2012 11:30

If you didn't have a car & used it to buy a car that could be pretty life changing
No more waiting at frosty bus stops at the crack of dawn

IneedAgoldenNickname · 03/09/2012 11:30

Pay off my debts, leaving me with more disposable income, and learn to and buy a car.

Or sod the debts and go to my brothers wedding in Australia

Kayano · 03/09/2012 11:31

It would go towards a bigger deposit for our next house.

and a nice little holiday

IneedAgoldenNickname · 03/09/2012 11:31

Learn to drive obviously

GoldPlatedNineDoors · 03/09/2012 11:32

Id sort my kitchen and bathroom.

This would give us an easier to sell home which would therefore give us breathing space over when and whether to move and when and whether to have another baby.

floatingquoter · 03/09/2012 11:34

change your life; but probably not your fundamental personality

WilsonFrickett · 03/09/2012 11:35

It depends on what you have. Like Callisto I already have a business, it's skills-based so scaling it up wouldn't really work, but I can see how in another type of business it would make a huge difference. We have a mortgage, it would make a dent in it but not clear it by a long chalk.

But if you had nothing, absolutely nothing, living in a B&B style nothing, it would change your life irrevocably I would imagine.

McKayz · 03/09/2012 11:36

Pay off debts and learn to drive.

AmIthatbad · 03/09/2012 11:36

Gold I was just going to post the same as you.

Sort kitchen and bathroom (both half done) and make house easier to sell, so I could live somewhere decent

ouryve · 03/09/2012 11:40

It would clear what's left of our mortgage.

LittleWhiteWolf · 03/09/2012 11:43

I would use it to get a good start on a deposit for a house. I'd also give it to my mum for safe keeping as I would end up dipping into it before it was used for its intended purpose.

Chubfuddler · 03/09/2012 11:43

It is a potentially life changing amount of money even for fairly well off people. In fact we came into a similar sum last year which enabled us to get a second car. Living in a very isolated rural area having two cars has reduced our stress levels by a ridiculous amount. It is wonderful.

Puppypanic · 03/09/2012 11:44

Sadly it wouldn't make much of a difference to us, but I would put it all towards paying off debt.

Looks hopeful.....

OutragedAtThePriceOfFreddos · 03/09/2012 11:46

It depends on the life it is intended to change. It could buy a car or go a long way towards a mobility aid so it old change day to day living, but that's different to a whole life.

I don't think it's enough to be life changing tbh.

Alibabaandthe40nappies · 03/09/2012 11:47

It would make a small dent in the mortgage, or be about 30% of what we need to save up to extend the house.

LST · 03/09/2012 11:48

We'd be sorted. We'd continue renting but we'd have money saved for things! Like days out and holidays and I would buy myself new clothes.

Oh and pay the car off and DP's overdraft... Ahhh

Vagaceratops · 03/09/2012 11:51

It would pay for half of our extension.

KenLeeeeeee · 03/09/2012 11:51

I have a teeny tiny little business which is more of a hobby at the moment tbh which I would love to invest in properly & really get it off the ground. I have millions of ideas but no start-up cash, so in my case £10k would make a massive difference.

Chelvis · 03/09/2012 12:00

It would change my life - we're stuck in a too small house, away from family and friends. We've spent the last 3 years saving £10,000 which has paid off the negative equity on our house; now we need to save anothe £10,000 as a deposit. If we could move, we'd be near family so more practical support, near better part time job opportunities for me so our family income would go up, and near my friends, so I wouldn't be so bloody lonely :( I literally pray every night for £10,000.

Sorry to be all depressing. In my fun imaginary world, I would go buy a bloody gorgeous pair of shoes for every day of the week and not cook for a month, because I'd be at glam restaurants showing my shoes off :)

thejoysofboys · 03/09/2012 12:05

For us it paid for the IVF we needed for our first son (over £7k with ICSI and embryo freezing etc plus travel costs to the hosp and the rest).

So certainly life changing.

PogoBob · 03/09/2012 12:06

Like others have said, I'd add to our house deposit.

Adding £10k would make quite a difference as it would take us into the comfortable price range for what we're looking for (IYSWIM) and remove the need to potentially have to move again in 3 - 5 years due to outgrowing the house.

Adviceinscotland · 03/09/2012 12:06

We will be getting this amount of money soon, not as a frebbie but dh is doing something extra at work which will work out about 10k.

About 2k will be used to pay off old debts that have been haunting me for years. Can't wait to be able to answer the phone or pick up the mail without sweating.

The rest will be starting a deposit to finally buy our own house. So not lifechanging right away but giving us a push in the right direction.

bleedingheart · 03/09/2012 12:06

I'm very fed up with the state of my house -it needs new windows and some decorating, so £10k would pay for that and improve my environment. As I work from home it would make a difference to my daily sense of well-being.

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