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.

Add to my ETFs…oh and my kids braces.

I’d get implants for the 2 teeth i I had extracted recently.
Do up bathroom
New sofas
Book a couple of holidays
Anything left into pension.

Nothing.

I'm a carer on UC. So my UC would stop and I'd be expected to use it to live on. Holidays and helping other people out would be deemed as "deprivation of capital". I'd have to live a very frugal moderate lifestyle until it was down to a level which let me claim UC again - my caring responsibilities aren't going anywhere so my life wouldn't really change.

It wouldn't improve my life at all or enable me to do anything very exciting!

I'd love to be able to put it in trust for my child's future needs when I'm gone, but I don't think there's any legal way I could do that either.

As an old joke goes:

• what would you do if you win a million quid?
• I'll pay off my debts.
• What about the rest?
• Well, the rest of the creditors will have to wait.

On a serious note, I'd pay off my mortgage with the £50k and go part time.

Use it to modify my home so my father could live with us.

put it towards the house i’m buying next summer.

We want to move house in a year or two so would save most towards that, and pay off car loans. But would definitely spend maybe 10k on an amazing holiday!

I love spending imagery money.
With 50k I'd pay off my car loan. I think it's about 15k.

I'd book a cruise for Christmas and a holiday next year.

Then perhaps something for the house. Maybe tiles for the kitchen floor.

New car, and get some work done on my flat. Whatever's left will pay a chunk off the mortgage.

Good chunk off the mortgage and fund the masters I want to do, but can’t justify.

I'd spend it all on nice holidays

Give my 3 grown up kids 10k each then spend the rest on the house and a holiday.

10K into the emergency fund and 40K into the mortgage.
Off to buy a lottery ticket and dear God please make it happen tonight 😂

Invest it.

£10k into the DCs savings accounts. That’d leave £30k to get a new bathroom installed and the downstairs rooms decorated by someone who isn’t me. Any change from that would be used for weekends away. If only.

If it was just mine-
Teeth
Laser eye surgery

But the boring side of me says "savings"

Flash car, botox, hair extensions, boob reduction and clothes

Buy a property to rent.

Same!

Pay off my credit card, buy my girls a nice handbag each and put the rest into savings. Oh, and I'd probably buy the dogs some new toys and a big box of yak chews.

Stick it in savings until I find a new job that pays enough to cover bills etc.

Then, I don't know. Once I'd have said new kitchen and bathroom, but maybe we'd move.

Pay off small loan
Home improvements , painting , garden shed , plants in garden , maybe new windows or porch
Holiday long overdue
Quality hearing aids

Sadly 50k doesn't as far as you would expect with building work costs so high , travel getting expensive and health costs soaring too.

Omg loads!! It would change my life right now.

Pay our debts and sort out the rest of the years water / council tax etc in full instead of monthly so we're better off each month £16k

Buy our own second hand car and insure it £7k

Get better beds for my kids £1k

Get a new mattress for me £500

Open a savings account £10k

Give my siblings some each to help them out £4.5k

Give my best friends some to help them out £2k

Go on our first holiday in 5 years (and my first ever abroad at 40yr old) £5k

See a dentist and get issues sorted due to zero NHS availability in recent years

Donate to the local food banks

Oh and I'd make sure the cupboards were full to the max with food and toiletries.

Might sound stupid compared to some of the "invest / think of the future" replies but honestly, for some of us, it really is about getting through the here and now.

Ahh I'm all excited now as if I've got any of this to look forward to 😅

Clear my debts (10k)
Upgrade the car (5k)
Savings to each kid (20k)
Holidays/house stuff (5k)
Savings (10k)