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!

Holiday to maybe the Maldives or go back to the Seychelles then the rest on the mortgage/savings pot towards the energy bills next winter.

Oh yes! Solar panels. I'm with you on this!

Treat adult dc to £1000
An extra holiday for DH and I - probably a Disney cruise
Invest the rest

I'd go on holiday and put the rest in our ISAs

I know exactly what I’d do. We’re saving up for our first house, so it would be towards our deposit, and paying off little bits of credit.

It would really depend upon my circs at the time. If renting: would use as a deposit to buy somewhere. If I had a mortgage, I would use the £50k to pay it down. If mortgage free, maybe some investment in the house (doing it up or nicer furniture) and a great holiday. An emergency fund should come first if you don’t already have one though.

I’ve changed my mind about my sensible answers and I will now be spending the entirety on getting someone to strip my entire house if its woodchip wallpaper, then replastering. No need for extensions or major work, I’m happy to paint, but this change alone/sparing me the DIY option: money well spent.

I'm not sure it's not a bit tone deaf to ask that in the current economic circumstances, when people are just speculating about a hypothetical sum of money.

(But no, even if I blew the lot on military regalia, I still wouldn't end up "broke" any time soon!)

Probably give some to charity to support those having a harder time, the rest invested for a rainy day.

We had 50k payout earlier this year and split as follows
10k to debts
10k to car upgrade (no car payments as traded old car in for more than we bought it for!)
10k in easy access cash account to boost the emergency fund
20k in years fixed account paying 4.3%

Mortgage is at 1.8% until 2027 so not an imminent concern. Will probably start to overpay on that when I'm back at work after maternity leave next summer now that we have a healthier cash float behind us.

We recently inherited quite a bit more than this. Despite all my fantasising about a lottery win, when it came to it we were very sensible. Paid off debt, new kitchen which was in a dire state, replaced windows and front door, holiday, invested the rest.

it doesn’t go that far really.

It depends on whether or not my DH knew about it. I think I might spend it on preventing my sibling from losing her house and business, with a proper repayment plan drawn up. Otherwise I would probably give £10k each to my children and put the rest in our savings. We are lucky enough to have paid off our mortgage and are coming up to retirement. It would be nice to be able to top up our pensions.

Buy a new car each, one outright, one on finance.

Probably a holiday this summer to France with our little one.

Save the rest for extra money to help while I'm not working and at home with the toddler!