If you were gifted this would you consider it to have a big impact on your life?

[Bextespisod]

50k. Life changing? Helpful? Bit extra savings? What would it actually mean to you?

Now, tbh I'm not sure what I'd do with it.

Up until I was about 40 it would have been life changing

@Trainday intrigued as to what happened by 40?!

I think it depends where you are at in life.
For me and DH, coming up to retirement, mortgage paid off, cash in the bank, decent pensions, it wouldn't be life changing. For our adult DS still living at home unable to afford to buy a house on a single salary, it would be a decent amount to add to the deposit he's already saved and would enable him to get on the property ladder. So for him it would be life changing.

But unless you were already filthy rich why would you spend it on those items?

Life changing.

My parents did actually gift me this much earlier this year. It was the difference between being able to buy my ex out of the house, or not. Providing stability for my autistic child, or not. The mortgage repayment being affordable and not running until I'm 70 (I'm 50 now), or not.

That meant so much more than a new car, fancy holiday or home improvements. It's made my life that bit easier every day. I could have done it without the £50k but I'd be living hand to mouth and this gave me breathing space.

I was given around 35k from my Dad. It changed my life in that I have a cushion and don't feel skint. I'm not in a fancy house and my car is 14 years old BUT I feel very happy with my lot. The money, for me, made a very big difference and I am so very grateful for the gift I was given.

It would be a massive help. We’re struggling to keep up with increases in everything and it would mean being able to replace things that need it, pay off things and give us a bit of a buffer against more rises. I’d be extremely grateful.

There have been many times in my life where it would have been life-changing but weirdly not right now. It would go some way to paying off the mortgage but nowhere near all the way. Either DP or I could quit our job and have a year or so breathing room to work towards getting into our dream industries but... we're there now! (Would've been life-changing when I was trying to get into it, ha.) I suppose we could have the kind of holiday/experience we wouldn't be able to afford otherwise but nothing actually springs to mind.

It would pay the mortgage and car finance off and leave some for a holiday. Not life changing, but definitely helpful in streamlining our outgoings in prep for retirement..

Not life changing, but a very nice safety net. If anything I would quite enjoy slapping it in a savings account and seeing the free returns- £2,500 isn't something to turn your nose up at!

We don't need it ourselves, but I would love to set it aside to pay for DS masters degree or wedding.

Be lovely but not life changing for me. I'd share it with my grown up DCs as they need it more than me though it still wouldn't be life changing for them. Pay for weddings and some travel and perhaps a bit off their mortgage. I'd squirrel a bit away and have a lovely holiday.

Absolutely life changing. This amount was an inheritance for us, and it means we were able to put a nice deposit down on a house and afford the repayments on one wage. Our quality of life has changed dramatically. We don’t live in a palace, only have one bathroom but it’s ours and we are happy.

In our current position, it would be welcome extra savings to retire earlier or give to our children. The only amount that I would consider life changing to us is one that enables my husband or I not to work.

I definitely wouldn’t spend £50k on a luxury car or holiday. That’s essentially flushing it down the bog. I would have thought the most sensible thing to do would be to pay it off the mortgage. Not fun, I’ll grant you.

Would absolutely change my life.

I could put in a wider front door and ramp at the front so I can get out of my house without some precarious and scary (and painful) switches of chair.

I could put a workshop type shed in at the back that I can actually get in and do some of the sculpture and 'big art' I can't do inside the house.

I would buy the 7 acres of land I have my eye on. That would just make the difference

It would be life changing for me.

I'd keep it as savings. It's financial security, knowing if I lost my job, divorced, became unwell etc, I'd still have decent reserves to pay the bills for a while.

That peace of mind is priceless to me.

It would let me retire a year or two earlier!

It would be for me. We’d be able to do work in the house and garden that would make the house perfect for us. There’s no way we’ll be able to do what we want.

I'd be extremely grateful to get it but whether it was life changing would depend on what I chose to do with it.

If I was brave and used it as seed money to start a business or retrain in a new career, then it would be life changing.

If I was less brave I'd use it to get some work done on my house, which isn't desperately needed but would be a sensible investment.

Helpful but not life changing

Depends on wherr you live and what income you have.
Central London and senior management in big company/bank?
Nice treat.
Up north in cheap area and low income job/retired/without property?
100% life changeing.

I received aroumd £30k when I was young and made great financial decisions with it so I am forever gratefull to my parents.
Now that amount of money would be just side investment

It would definitely have a big impact, especially with the expense these days. I however wouldn't consider it life changing but it would be a good start and would be beyond grateful to ever run into that sort of money.

Useful but just a nice bit of extra saving really - it would most likely go into the dc’s investments earmarked for dc for their later life (uni, house deposits etc). Certainly nowhere near life changing (I need millions for that lol)