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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:
McHappyPants2012 · 03/09/2012 12:06

It would leave me in under 2k debt :)

Flossiechops · 03/09/2012 12:10

Yes it would I could pay off my debts quicker and give up my evening job. This would give me more time with my dh and dcs so it would change my life a lot!

Original poster
Arabellasmella · 03/09/2012 12:11

Maybe we should club together and have a punt on the euromillions and change all of our lives!!

OP posts:
Latara · 03/09/2012 12:18

I think £10K can definitely change or hugely improve your life for people on any budget if used wisely.

An individual could use £10K:

To pay off debts eg. overdrafts, credit cards, outstanding loans;
to invest in savings or stocks & shares;
to put towards a deposit for a home;
to buy a painting or other item that will increase in value in future;
to pay the bills / rent for a few months;
to make home improvements that increase the value of a home;
to pay for courses that will give you qualifications to improve your chance of a better job (or any job);
to invest in a business opportunity;
to learn to drive, buy & insure a cheap used car;
to pay a year's university fees;
to invest for a child in either their future or to pay for the school clothes, shoes & other items they need for a few years....
or even to pay for a relative's funeral & a decent memorial (trust me it's a problem my family had in January!!).

Ephiny · 03/09/2012 12:21

I wouldn't say no if someone wanted to give me 10k! But don't think it's a life-changing amount. I'd probably just put it in with the rest of my savings Confused.

rahrahrahblah · 03/09/2012 12:21

We had this amount two years ago and upped sticks and went travelling to an exotic location for six months (me, dh and ds). Life is now back to how it was before but we got six whole months of the three of us hanging out together and experiencing something entirely different. Plus for the longer term it has given us a sense of possibility and the idea of not being trapped, and for ds his world view expanded.

We now actually have this amount again, but really struggle in our day to day finances. I'm trying my best not to dip into it just to do little things like buy phone credit. I might fill the oil tank for the winter though. I'd like to save some of it. But we are also hoping to use part of it as a 'fun fund', to allow nights out and weekends away, which until this point have never been possible. I do worry that we'll make the wrong decision with it and regret it in the future.

peacefuleasyfeeling · 03/09/2012 12:23

Of course! To say categorically that it can't is a bit Hmm. It would give us choices we do not have at present. I have friends to whom it wouldn't make the slightest bit of difference, and others whose lives would be transformed.

Birdsgottafly · 03/09/2012 12:25

If £10K won't change your life in any major way, be grateful.

Why some are using the word sadly, is beyond me, even if you have a terminally ill relative, it will make the end less stressful in some ways.

I say that as someone who had to drag their children around to see their father whilst he died, even taxi fare would have made a big difference.

I work with families who would benefit from £500, just to eat well and be able to heat their houses, that is life enhancing and changes their outcomes.

A slight rise in living conditions, equals better over all health, including MH.

akaemmafrost · 03/09/2012 12:27

£10k would change my life, it would mean I could move into a larger place and we would all be so much happier.

CogitoErgoSometimes · 03/09/2012 12:29

I don't think £10,000 is life-changing unless you've got absolutely nothing or you're very, very shrewd/lucky. Didn't Alan Sugar (or was it Richard Branson?) start his business empire with £200?

Moominsarescary · 03/09/2012 12:29

I'd use it for driving lessons which I think would be pretty life changing

Ephiny · 03/09/2012 12:30

Sorry, I meant for me it wouldn't really be life-changing, not that it can't be for anyone.

Though it's hard to see how it could make a big long-term difference to someone's life, given the cost of living in the UK it surely wouldn't go very far or last very long for most people. Obviously it could buy you a one-off luxury like a holiday or a new car.

The IVF example sounds like a genuinely life-changing one though :)

KellyElly · 03/09/2012 12:33

10K couldn't change my life no but it could help me out.

rahrahrahblah · 03/09/2012 12:48

At one point I would have been in debt, had no car and been unable to afford a deposit to move into a new rental house (even one room within that house). In fact at one point we lived on less than that a year. So at that point in time 10k would have made a massive difference to us. Even now it makes a major difference in just knowing there is a cushion there.

EllenParsons · 03/09/2012 12:51

I would probably save it towards a deposit for a flat, but I would still need to save quite a bit more (London)

StarlightMcKenzie · 03/09/2012 12:51

It would change my life. I would retrain.

Evasmum12 · 03/09/2012 12:53

10k would change my daughter's life, I would use it to pay for private consultations, and investigations that the NHS are reluctant to do.

And a car to take her to all her hospital appointments and me to work would make life a lot easier!

Iheartpasties · 03/09/2012 12:56

You've got me thinking, its nice to day dream sometimes. I think we would try and save up for a deposit for a home.

OneLittleToddlingTerror · 03/09/2012 12:56

It's not life changing, but it will mean a good dent into our mortgage. It'll take us a long time to save an extra £10k.

WoodlandHills · 03/09/2012 12:57

Would change our life as would help us to finally buy a house, would be a good chunk of a deposit round where we live

GolfOscarLimaDelta · 03/09/2012 12:58

10K would let me start a small business and mean I could support my family.

It would also mean I had a deposit for a rented place and If I was working then a Landlord might actually let me rent from them.

It would be the difference between me being evicted into b&b anyday now and having a place to live.

But you spent it according to your needs at that time - no point dwelling on what you would do with it now. Hope everything settles down soon though op :)

Binkyridesagain · 03/09/2012 13:04

10k would be life changing for us, it would mean that we can get started on the disabled access bedroom and wet room for my daughter, I have the rest of the funding for it all sorted I just need 10k. When the extension is done it will mean DD can have more independence and I won't need to carry 12 stone up the stairs or when she is in her wheelchair confine her to the living room as there is no where in the house that is wheelchair accessible.

alphabite · 03/09/2012 13:10

It would mean I could afford to adopt so it would def change my life. I have known 100 pounds change someone's life. When I was a teacher I anonymously put a hundred quid through the door of a girl who was always incredibly upset that she had tge wrong uniform and PE kit. Her family had understandably flung together anything that would fit as they couldn't afford anything else. She was getting badly bullied because of her appeariance. A couple of days later she had a clean uniting and a PE kit and she was a much bubblier child. I remind myself every day how lucky I am. I may have very little but im not starving or homeless.

alphabite · 03/09/2012 13:12

Sorry about typos. Stupid phone!

CherryBlossom27 · 03/09/2012 13:16

Yes I'd use it for driving lessons and a car :)

I think if I didn't use it for driving, I'd spend £2000 on a really good holiday and put the rest in savings for a rainy day (I live in fear of the boiler breaking and DH being made redundant!)