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Original poster

so what wd you do with a sudden £40k windfall?

85 replies

RanToTheHills · 22/10/2006 10:26

friend of mine just had news of this and not yet sure what to do with it. Just curious, what would you do??

OP posts:
Surfermummystomb · 22/10/2006 10:26

I'd get an extension done.

lulumama · 22/10/2006 10:27

pay off a big chunk of the mortgage....treat friends & family to a fab evening out at the best restaurant...limos, champagne the works....some new clothes etc....but mostly pay the mortgage!

purplemonkeydishwasher · 22/10/2006 10:27
  1. pay off debts
  2. go on holiday
  3. do up house
  4. a whole new wardrobe for me DH and ds
LaDIEDaDIE · 22/10/2006 10:28

I would extend my mat leave to a year, pay a bit off the mortgage and maybe get married. Actually I'm not sure if 40k would cover all that so I might not pay a bit off the mortgage.

TwigTwoolett · 22/10/2006 10:28

I'd blow 10K on fab holiday / pressies / stuff

I'd put remaining 30K in premium bonds

saadia · 22/10/2006 10:29

I would do up the house (porch, new bathroom, landscape garden).

Spidermama · 22/10/2006 10:30

Pay off debts. Have double glazed sash windows. Paint the outside of the house and replace all the windows. Then possibly get a new roof.

Gobbledispook · 22/10/2006 10:30

Don't know actually, there is a lot I could do with £40K! Might split it out so a bit off the mortgage, a bit of a splurge and share, a bit of home improvements.

I wouldn't put it all on the mortgage as although it would dent it, it wouldn't be hugely significant and then I'd feel like I'd not had a windfall! I don't think it would make me that much better off but would have to look it up!

Bibiboo · 22/10/2006 10:32

I'd use £12k to pay off the car loan, pay £20k off the mortgage and use the remaining £8k for a nice holiday and some treats. Oh and as the mortage awas lower, probably go 3 days a week at work.

CreepyCrawlyCarmenere · 22/10/2006 10:32

I'd put 30k down as a deposit on an off plan apartment in Italy/Malta and blow the rest of it. In two years time when the apartment is built I would sell it and clear 18k profit and then I would do it again.

Gobbledispook · 22/10/2006 10:33

I'd be about £200 a month better off, so, while not to be sniffed at, I think I'd rather do something tangible with the money -enjoy it!!

Probably terrible financial planning there!

TwigTwoolett · 22/10/2006 10:34

or in 2 years time when it turns out you can't sell it .. you'll scrabble around trying to raise enough money to pay off the rest of the purchase and possibly lose your main home in the process

or in 2 years time you'll find out you have to discount it to sell it and then lose money .. as the developer you bought it from will not advertise it and you'll have to find a local estate agent who will take a commission

melsy · 22/10/2006 10:34

1.Go on a luxury holiday
2.Buy some clothes and bags (how could I not)
3.Pay off some debts & familys too if possible.
4.Use some to as deposit for a buy to let property as a pension

CreepyCrawlyCarmenere · 22/10/2006 10:37

But Twig, I wouldn't buy unless I had researched it thoroughly(and I work in the field)

ludaloo · 22/10/2006 10:38

pay off debt
buy the kids new beds!

TwigTwoolett · 22/10/2006 10:38

do you? I'd love to have the cojones to do that .. DH and I sometimes chat about what we should have done (buy more property 10 years ago when we could have afforded it) then realise its all pie in the sky because we don't have the guts

Original poster
RanToTheHills · 22/10/2006 10:56

interesting. So most people wd split it in some way - sensible stuff (mortgage) plus indulgent splurge on clothes/hols etc. Think I'd do the same. The more i think about it, the more i realise how easy it would be to use up £40k!

OP posts:
GraceUnderFire · 22/10/2006 11:14

We need a new car - so a chunk would go on that (though not a new new car - but a decent used one).

I'd save/invest the rest I think.

Oh I'd buy some gorgeous Fly boots I've seen for £115 as well.

KristinaM · 22/10/2006 11:16

pay off part of mortgage. but then I am a very boring person.....

Original poster
RanToTheHills · 23/10/2006 09:23

oh yes,boots wd do it for me too.

OP posts:
expatinscotland · 23/10/2006 09:24

put a deposit on a house FAR away from here.

right after telling my supervisor i'm leaving.

MaloryTowersPonceAndProud · 23/10/2006 09:25

This reply has been deleted

Message withdrawn at poster's request.

GeorginaA · 23/10/2006 09:26

£10k on upgrading the camper, PCs and buying a digital SLR.

£30k towards the mortgage.

What's scary is that I could write that down within seconds of being asked... hmm, where could I get £40k from

Blu · 23/10/2006 09:28

Do some research into what would serve us best in the longer term - paying off the mortgage, investing in property, or a pension plan of some kind. (we have no pension...eeek).

Maybe have one summer holiday abroad during the school hols while DS is at primary schol.

jessicaandrebeccasmummy · 23/10/2006 09:29

I would....

Pay off £11k debts
Allocate £10k for family and us (each family gets £1k, we get £1k each) to spend as required

That leaves £19k to buy a decent newish car (7 seater) and deposit on a rental house

In other words I would blow the lot!