How to spend inheritance

[Peanutstash10]

I have recently come into some inheritance...every bone in my body wants to blow it on something grand (like a new car) but another part tells me to be sensible. Id love to know what you or how you have invested any money you have come into?

It depends on your situation. Do you have any debts? Are you in rented or owned accomodation? How much money is it in comparison to your annual income etc.?

Any money we have come into, inheritance, gifts, lottery win etc.
we have;
Paid a chunk off the mortgage,
Did stuff to the house
Booked a holiday
Saved anything left over.

Pay off any debts first, then see how much you have left

I agree. Pay off debts then reassess.

We used ours to pay off some mortgage. Not a huge amount but helped.

I spent about a tenth of mine on some paintings. I'm really pleased with them because they have transformed a room and they are a lovely reminder of the person who left me the money. Everyone comments on them and it's nice to be able to tell people why I bought the them.

With the rest I put some in an ISA and put some towards paying the mortgage off.

I paid off the mortgage and had a new kitchen. My grandmother was an amazing cook, so a fitting tribute, and we all get to enjoy the wonderful family kitchen. The one I had before was a galley style one, where we couldn't all sit round the table!

I paid off debts, bought a car and a boat. Both secondhand, bought a log burner and solar panels for our house, bought a gold watch and a new wardrobe for myself, some presents for dd,a posh weekend away with my parents and saved the rest (approx 7k)

I came into some inheritance which was totally out of the blue basically left a 6th of my nans estate as she had chosen not to speak to anyone but one of her children since her husband, my grandad had died. She changed the will and the wishes of my grandad ultimately so when out of the blue I am contacted to say I am a beneficiary of my grandma's estate, what do I do? In honour of my grandad I spend it on doing stuff he would have wanted me to do and enjoy. He loved holidays so I had a holiday. He loved his food so I went to fancy restaurants. I basically had a blinkin good time on the money!!!! I also had great delight in directing the solicitor to donate an amount on behalf of my nan to cats protection. I can still remember the solicitor saying what a kind thought that was in honour of my nan as did she like cats, and I said no she had a fear of them but my grandad loved them and also had a wicked sense of humour so he would be up there with my nan now giving her grief for changing the will and going against his wishes, but having a good laugh thinking you know what a lot of cats have benefitted from it

Oh forgot to say put some in trust/ savings for my daughter as again my grandad knew I was expectinghis first greatgrandchild from his only son but unfortunately didn't live long enough to see her.

i'd probably be sensible and pay off debts i had if i could (or at least a good chunk of them).

We still have quite a large mortgage but we have a house that needs work.
If I had £25k I'd use it for house repairs. If I had £50k I'd use some for house repairs, and some for mortgage. If I had £100k I'd use some for house repairs, some for an ISA, some for mortgage and keep £5k for a fuck off holiday .

Paid off mortgage, funded DC's MSc, bought the car I realistically wanted.
Some money will go on helping DCs get feet on housing ladder and some on increasing pension pot to make up for time I was SAHM.

Asked dh the same question. He said we can only pay off a chunk of up to 20% of our mortgage at a time.

So. Dependant on amount gifted I'd pay off some mortgage. Then if there was any left I'd put it towards new house deposit, or pony fund.