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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:

thegreylady · 03/09/2012 17:36

It wouldn't change my life at all but it would be a bit of a cushion to fall back on.
£100,000 would change my life though !

iknowwho · 03/09/2012 17:39

TBH it wouldn't make any difference to us.
I have no CC debits and only a small mortgage.
I have plenty of assets in shares and ISA's and in different plans and plenty of cash that I can get hold off.

I have everything I need and want and I am happy with my lot.

I would probably give £5000 each to DS1 and 2 although not at the moment because one would probably spend it on iTunes and the other on sweets!!

expatinscotland · 03/09/2012 17:49

It would change our lives! We could get the hell out of here.

toptramp · 03/09/2012 18:02

I got left 10 grand. Bought a holiday with part of it and have just met the most amazing man who wants to keep seeing me so yes it can be life changing!

Oblomov · 03/09/2012 18:08

I don't think it would make that much difference to us. Nice. But not that much difference. Pay a bit off our mortgage, put a bit away, upgrade cars a bit, have a bit of a holiday abroad. Before you know it, £10k is gone.
It's not THAT much in this day and age. 148 million lottery win, makes a big difference. Even if you won a million, that would be really nice, but would you be able to give up work? forever? not in the south you wouldn't be able to.
Most people round here have reasonable mortgagaes and once you'd paid it all off, there would be enough to live off, for the rest of your life.

BelinaTheChicken · 03/09/2012 18:08

10k would pay off the bulk of my debts, so that I would only have mortgage and bills to come out. It would mean that our disposable income would go up greatly and we could save for the future, and afford to go on holidays. So yeah, it would change our lives.

AhsataN · 03/09/2012 18:24

it would buy me a reliable car thats does not consist of half a scrap yard. a deposit on a private rented house for me and my son so we dont have to rely on the shit hole private rent the council found me having no choice.
so yes that amount of money might not be life changing for others but for me as a single parent it would mean a great deal. would also save the lives of my horses who will have to be put down due to my mum having lost her job and not being able to afford to keep them this winter. that money would mean the world :(

openerofjars · 03/09/2012 19:04

DH could do a postgrad that would get him his dream job. I could do the rest of my masters.

LucieMay · 03/09/2012 19:07

No it wouldn't change my life. I only earn £21k and all it would do would be to do up my house a bit. I don't drive but I can't afford to run a car and £10k wouldn't really last that long when you factor in driving lessons, insurance and buying the car.

Fleecy · 03/09/2012 19:29

I inherited £10k a long time ago. At the time DH was retraining and on minimum wage so I was the breadwinner and couldn't afford to take maternity leave. So for us, it was enough cash for us to start a family

FanjoPingpong · 03/09/2012 19:40

We could pay eighteen months' rent. It would be amazing.

thunksheadontable · 03/09/2012 19:56

It would pay for the graduate course I want to do, making it the key to a whole new career.

Alternatively I would buy a RV and we would tour about in the Summer holidays which would be nice too.

scottishmummy · 03/09/2012 20:32

10k nice to receive,aye
lifechanging,no

Xenia · 03/09/2012 20:50

£100m would

EasyToEatTiger · 03/09/2012 20:55

It gave me the confidence to become self-employed. Work in progress...

PacificDogwood · 03/09/2012 21:07

10k would not change our lives, but would of course be nice

148 million as a lottery win scares the bejeezus out of me - no way, Jose .
Apart from that I think that the lottery is a tax on the poor, the even teeny-tiny chance of winning absurd amounts of money is so hyperventilation inducing that I don't play.

thunksheadontable · 03/09/2012 21:09

Really Xenia, in what way?

CheerfulYank · 03/09/2012 21:13

It would take a big chunk off of our mortgage and that would be lovely. :)

marriedinwhite · 03/09/2012 21:27

I think it would be marvellous for anyone for whom it made life easier.

I have to admit that many years ago, DH used interest free credit cards to invest in stocks and shares. It was late 90's and the market was on an upward trend. I am very glad he didn't tell me until he had made a handsome profit. If it had gone the other way, £10k could have been life changing. It was stupid and I might have divorced him.

FellatioNelson · 03/09/2012 21:39

I'd use it to re-do the kitchen and the bathroom of a flat I have just bought. It would not change my life at all, but it would come in very handy.

Xenia · 03/09/2012 22:04

Well £10m say invested at 3% yields £300k a year which is not going to change the lives of any women on the we earn £1000 a day thread particularly when you apply £50% tax and NI to that interest - so £10m may yield you £150k net a year.

Whereas £100m begins to make a difference. I don't thinK I would stop work but it would certainly have an effect which £10m would not.

happilyconfused · 03/09/2012 22:07

nice but not a life changer.

£100k = extension and total house refurb plus one super holiday

£200k - def life changing

LackingNameChangeInspiration · 03/09/2012 22:16

If I put it towards a masters and continued to be car-less and poor while doing it etc it could maybe change my life... or I could end up with another degree but still doing the same job I did before I even got the degree I have now?

or else it would be swallowed up with new car, double glazing re-sealed, some nice new bikes for the family would be nice etc... but it wouldn't change our lives

or DH could start his own buisness.. that could go either way of course and change our lives in a good or bad way..

I think we'ld probably go for the middle option there.. do a few things that make our current life a wee bit easier but we're on such a low income as it is that we probably wouldn't spend £10 on something risky like an investment or frivolous like a trip of a lifetime, we'ld prob make it last and it would disappear over time into a lot of little things IYKWIM

Sunnywithachanceofshowers · 03/09/2012 22:21

I was made redundant in 2000 and got about that as a payment. I was able to pay off my debts and make plans to leave my abusive XH.

£10k was life changing in my case and I'm so grateful.

thepeoplesprincess · 03/09/2012 22:31

It would certainly change my life. I would either use it to do essential renovations on this hideous former crack den that the council have forced us to live in, or up sticks and move into private rental.

Either way, living somewhere that didn't make me suicidal everytime I walk through the front door would be pretty fucking life enriching.

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