What would you do if you were given £50k?

[MsGiGi]

I’ve been daydreaming about winning the lottery and wondered what you would do with £50k? It obviously isn’t enough to retire on, so what would you do with it?

I think I would deposit a chunk into my S&S ISA, put some into my SIPP. Then, I’d top up my Emergency Fund and book some once in a lifetime trips.

honestly I will be receiving about 60k by this Friday. I will treat my mum to a spa night away. The rest will just go into savings. It’s not enough to justify spending it willy nilly tbh. I like to know I have ample there for future emergencies. That’s not to say I won’t buy myself a treat here or there if I see something nice but I couldn’t justify blowing it on cars and holidays. But we are very secure financially anyway so u suppose I’m skewed a bit.

Replace bathroom cheaply, book a disney florida holiday for the DC and split any leftover between savings and mortgage overpayments.

Buy more gold.

Pay off all debts, get my scruffy garden sorted and buy a new little car since my 15 year old VW will probably conk out eventually.

Split it between my 3 adult DC. I don't really need it but it would help them out a lot.

Replace boiler and water softener, replace carpets in living room, stairs and upstairs corridor. Also, get new doors and worktops for my kitchen.

Add it to my two youngest DC’s house deposit pots, I don’t need anything.

Hookers and blow.

I did get this amount and put it all in savings. Very boring I know.

I’m not sure it isn’t enough to retire on, it’s nearly five years’ salary for me. However I would probably want to carry on working for a while yet.

I’d pay off a chunk of my mortgage with the majority and get some repairs done to my van with the rest. If I felt flush I might actually replace my van all together, which would save me money in the long run.

I didn’t know I needed £50k until I saw some of these posts. Now I’m worried it’ll be nowhere near enough.

Boringly pay off loans and if anything was left do the work that really needs doing on the house. May be go private for a health concern I currently am going through, waiting lists are far too long.

You need to have a better lifestyle now. Your future is well catered for. You’re now putting decent amounts away for your pension as well. You have too high outgoings for your income alone. Sell. Sell. Sell.

I received about this in inheritance a couple of years ago. I thought it would be amazing and all money worries resolved but it exasperated my money anxiety 10 fold :(

I did pay off some debt which freed up more disposable income every month and did a bit of decorating but now I just panic if more is spent. It is sitting in an Isa.
Maybe if I won it I could be a bit more frivolous but I would probably use it to move to a bigger house.

Pay off debts, sadly, but that would give me more month to month to increase pension payments, overpay mortgage, put money into short term savings. The rest would go on home improvements as my house is looking very tatty. I'd probably then look to sell and downsize to reduce/pay off my mortgage and allow more again into pension and savings etc. While £50k is obviously a lot of money, it's not exactly a crazy amount, but it would still be absolutely life changing.

Pay off the remainder of the car loan and blow the rest on holidays with the family. Entirely.

I would not be sensible with it. No way.

Pay off the mortgage and save the rest for home improvements (would allow me to start getting quotes/options for various bits)

New kitchen, holiday, little bit to each of the kids savings.

Honestly I would take 6 months off work and pay for therapy (decent therapy) to get my head sorted and able to cope with day to day life. I reckon that would cost about £15k, then I would pay for a ‘declutterer’ to come to my house and get me off to a good start. I would save the rest.

I'd put half of it in savings account. With the rest,I'd give 5 grand to my DD,5 grand to my DGD,a grand to my best friend,then with the remainder I'd pay off my credit card debt (around 2 grand). Then I'd take a holiday. I'm not keen on flying so it would be in the UK,probably the Channel Islands. I'd take my DD and her family with me. Then with whatever was left over I'd replace everything that was worn out or shabby in my flat (washing machine,bed,sofa,carpets etc) and pay someone to decorate throughout.

I would probably use it to invest in a couple of new startups that look promising with high risk returns.

Get my garden landscaped, get some other stuff done on the house and do some more travelling. I'd also get a personal trainer again. I had one before but I can't afford it at the moment and it would really improve my life.

I’d visit my lovely friends on the other side of the world who I’ve never been able to get to, some dental work and to have the rest as rainy day savings would be a weight lifted. Sounds a bit ‘poor me’ and worthy doesn’t it 😆 Not intended that way, these things would all make me genuinely happy.

I'd add this to my ISA and retire !

A friend and I were discussing this - you can do FA with 50k, certainly down south. We got about that amount as an inheritance and basically it sits in isas. It's not enough to buy an investment property, it's not enough for an extension. If we paid it off the mortgage we'd incur early repayment fees.

So save for buying a new washing machine, it sits in an ISA :/