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£500 today or £1,000 in two years?
edited 27 January 2011 at 5:31PM
in Martin's blogs & appearances & MoneySavingExpert in the news
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This is the discussion to link on the back of Martin's blog. Please read the blog first, as this discussion follows it.
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Read Martin's "£500 today or £1,000 in two years?" Blog.
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£1k in 2 years for me please!
If you do like it please hit the thanks button.
Mind you, if I had somewhere free and legal to store it, buying £500 worth of diesel with the money now could be better than waiting two years for a grand.
Seriously though, I can see situations where £500 now would be better - though not in mid range financial terms e.g. if unable to pay the rent/mortgage this month and £500 would plug the gap.
Im certainly no expert on MB but even I managed to make myself over £100 in about 2 months and that was with very little time spent on it - £500 in a year is incredibly realistic in the great scheme of things....
Aug 2014 £114,750 -35 yrs (2049)
Sept 2016 £104,800
Nov 2018 £82,500 -24 yrs (2042)
£500 isn't a massive amount of money and using my savvy i know i could double that within a year.
The £5,000 over £10,000 took a little longer to decide, but i'd still rather have it now.
It really does depend on circumstances, some people are already sat on £1000s so having more wouldn't really matter that much to them, but others struggle from one payday to the next and are dragged down in debt.
and the £10000 in two years time. I would not spend £5k I'd probably lock it away for two years, n that case just wait two years and get the 10k