If you won this amount of money, what would you do with it?

[Neomldn]

A close friend of mine recently won £50k as part of a competition she’d entered. Naturally I was hugely for her and asked if she’s thought about what she might do with it. I could only dream of having so much spare cash and can immediately think of a million and one things I’d want to do with it, yet my friend tells me she has absolutely no idea what to spend it on and will likely keep it for some time before deciding.

So my question is, if you had a spare 50k, what would you spend it on? Sensible or otherwise, I’m genuinely intrigued!

Pay off mortgage
Holiday
Pensions

House/garden redecoration and savings

We need the front and back gardens landscaped, new windows, a new front and back door, and the hall decorated - upstairs and down.

I'm not sure there would be much left over but I'd use a chunk to pay off my car.

Pay off my loan and credit card.

Put my car in the garage and get them to figure out a couple of minor issues that no-one seems to be able to track down. I'd do it now but the labour cost of them finding said issues is a bit mad.

Give my mum and sister a treat.

Clear 5k if debt. Keep 5k for a fab holiday. Invest the rest - maybe premium bonds!

Apologies for my comment @Tonysopranosghost It clearly is a life changing amount for some. I was being thoughtless.
I hope that your situation improves. 💐

how cute! I love owls

Pay off mortgage. New kitchen/house repairs. Divorce husband.

I's build a downstairs bathroom in my house

Whack it on the mortgage

Re Life Changing or not, the horrible truth is that the poorest stand to benefit least from such a windfall as £50k would preclude UC and other benefits (Visiting carer costs etc) until used up, and giving it to offspring or spending it on something major could be deemed deprivation of assets.

£50k whilst it’s a lovely sum of money is not life changing. So in that regard it would go towards a mortgage or my forever home fund

I would put 40k on my mortgage and use 10k to splash out on a lovely family holiday!

£50k would pay off my mortgage and leave me with enough for a holiday. I'd probably do that.

Or, spend it on a kitchen extension. But I reckon extensions nowadays would need more than £50k!

Clear debts
Home improvements
Book two weeks all inclusive to Mexico for me and DD for when she finishes her A levels next year

That would be half of it and I'd stick the rest in savings

I’d put it in my investments.

Solar storage batteries
Decent extractor for the bathroom
New wallpaper in almost every room
New garden shed, raised beds and some kind of shade structure
Decent chunk off the mortgage and DP's car loan
And then maybe a little wedding, who knows?

House improvements and mortgage. I wouldn’t spend extra that’s we can usually afford on holidays or other things until the mortgage is cleared so that’s where most of the money would go.

To be honest it’s not life changing as such so it would mostly go to investments , savings, maybe a holiday?

A new roof and insulation for my house! Plus a bit of decorating etc.

Redecorate hall, stairs and landing.
£10k on a family holiday.
The rest for my daughters to help support them through university.

I'd put 20k each away for my sons to help with a house deposit and 10k for a family holiday.

Spend £25k on house (it needs another £50k really but not all urgent) and put £20k aside for roof (thatch). Remaining £5k on holiday.

Sensible and frivolous, perfect answer. 😆

Pay off debt first which would leave us about £500 a month better off. Then it would probably be either move house or have a new kitchen and bathroom, both desperately need doing but can’t afford it!