30/40k to spend what would you choose?

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thedaras

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If you had a windfall of 30/40k,what would you do with it?
A friend has just inherited this amount and is thinking about what to do with it.
Her choices are ;

Buy a new car.(she can then get rid of company car and have this extra money per month)and use the extra income to increase mortgage payments.

One off mortgage payment, thereby reducing the monthly payments.

Buy a piece of land abroad, to build on in the future.

She is heading towards the mortgage payment.
What would you choose?

I think I would use it to buy really good furniture and get some work done in the garden,pay the remainder off the mortgage..
 
The once off mortgage payment would certainly save them thousands in interest and reduce the term of their mortgage so makes more financial sense than a car.

If it was me I'd look into using it as a deposit for a forgeign property. Nothing fancy. Just somewhere I could head off with the family a couple of times a year.
 
If it was me I would be putting most of it aside to fund my son's University Education. (though that all could change by around 9.30 on 17th of this month!)
 
Spend most of it on women and drink. They can waste the rest.

I just realised that the OP is talking about a woman so I was going to edit my post but no, I think it's just fine as it is :D
 
Last edited:
elefantfresh said:
I was hoping someone else would ask in order to hide my ignorance, but what happens then?
Click to expand...

Leaving Cert results.....if he doesn't do well enough to get on his course husband says we are off to New York for a couple of weeks using the savings we have put away for his education;) The offspring can stay at home and mind the dog!
 
Buy (as usual) a handbag because they always fit :D Then pay off the mortgage.

If it was an awful lot more money then set up a centre to take care of stray dogs.
 
I would be tempted to do the mortgage lump sum, or maybe use half of it for a payment, and put the rest in a 5yr account or something.

Maybe spend €1k or €2k on a nice relaxing holiday?

The piece of land abroad sounds like bother to me. Any point owning a piece of land you can't even see, lying doing nothing for years? Sounds like might be legal hassle too.

But last thing I would think of would be buying a car, especially if I already owned one. Total waste. If they haven't got a car then ok buy a runaround, but if they already have one, forget it.
 
€40k would buy a pork salad sandwich and a pint of Beamish for me, and around 3,999 of my friends, in The Long Valley. ;)
 
The Long valley, A real pub, Can I be your friend Lex. Hold on did you say beamish, Forget it.
 
Actually Lex if you could get your 3,999 friends to chip in 100.00 euro each you could buy the long valley, You would be left with 39,900 euro and have your pork salad sandwich and your beamish for free as part owner, I bet your day dreaming already.
 
I wouldn't spend it in any one big lump sum. Just carry on as before with a few extra occasional treats here and there. Trip to the Christmas markets, a weekend break etc
 
Sorry I misread the question: of course pay the mortgage back. Pay all the debts asap otherwise they'll keep persecuting you! ;)
 
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