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£500 today or £1,000 in two years?

Former_MSE_Helen
Posts: 2,382 Forumite
This is the discussion to link on the back of Martin's blog. Please read the blog first, as this discussion follows it.
Please click 'post reply' to discuss below.
Read Martin's "£500 today or £1,000 in two years?" Blog.
Please click 'post reply' to discuss below.
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Comments
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Wow I am surprised that so many people chose £500 now!
£1k in 2 years for me please!0 -
It's a no brainer. Got to be the £10000
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Unless you desperately need the money its a no brainer to wait, surprised at the results.If you don't like what I say slap me around with a large trout and PM me to tell me why.
If you do like it please hit the thanks button.0 -
I'm amazed at the number who would take £500 now. Things are fairly tight for me at times but I could manage to wait a couple of years to double the money.
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.0 -
In all honesty Id take the £500 today - I think with the likes of Matched Betting you could very easily double your money within a year - let alone 2 years.
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....MFW 2020 #111 Offset Balance £69,394.80/ £69,595.11
Aug 2014 £114,750 -35 yrs (2049)
Sept 2016 £104,800
Nov 2018 £82,500 -24 yrs (2042)0 -
£500 today and would also take the £5000 today over the £1000 or £10,000 in two years.
£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.Everyday im shufflin':dance: Proud Padder ~ All Hail The Power of Pad0 -
I would take the £500 now, not worth waiting for £500 more. The problem is that £500 is more useful now than £1000 will be in two years time.
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 10k0 -
And what if I’d asked about £5,000 and £10,000 rather than £500 and £1,000, would that change things?0
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I'm not in debt but I am nervous about my financial position so I'd take £500. If you'd asked me at any other time in my life than in the last four months, I would have said £1k. I know logically that I am unlikely to fail in my current enterprise for want of £500 but that's what nerves does for you.0
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Also the timing of this post my affect peoples responses, just after christmas and still waiting on jans payday!!Everyday im shufflin':dance: Proud Padder ~ All Hail The Power of Pad0
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