£500.. .What do I do with it?

Annie_Fanny

K9cuddles wrote:

N.B the Savings aren't really savings.. more emergancy money! i.e £300 excess for my insurance and so far £1k for my renewal next year. I've budgeted for my road tax but not my service.

Xmas is sorted, but I'm worried I won't have enough spending money for my holiday??! But I've asked everyone to get me dollars for my b'day/xmas but I don't want to bank on that!

Ooooo. .it's a toughie!

I don't know the extent of your debt K9cuddles but if you look at it sensibly...in my opinion you could put £350 towards the debt and £75 towards your car service and £75 towards holiday spending money as your 'treat'....

I just think £75 sounds better than £50!!

Good luck with your decision!

Headintheclouds_3

Congrats on your windfall! I was gifted £500 recently, too, and after much agonising (holiday, new printer, new clothes) I spent £30 on having my hair cut (a real treat, actually!) and dumped the rest onto the credit card.

You should have a little treat now again (just make sure it's affordable!)

HairyHandofDartmoor

I would chuck it all on a debt if it was me because how many chances do you get like that? How much time will that knock off your debt free date?

Phoenix79_2

£400 on debt and £100 to treat yourself. We all need treats! :beer:

newmum1

Phoenix79 wrote:

£400 on debt and £100 to treat yourself. We all need treats! :beer:

yeah this was what i was thinking

vyvyan_2

I like this problem! :j
I would have a treat (probably a takaway) and the rest to go to the debt.

sashacat

if it was all unexpected then put it all off the debt, as you would have managed without it anyway...if you are really serious about clearing your debts then use this windfall to reduce them

louby_lou

on the debt it is then...

postingalwaysposting

i echo sashas post... and i am glad to see you will be putting it against your debt... the quicker that is gone the quicker you can treat yourself all the time

jo_b_2

K9cuddles wrote:

Okay.. just been landed £500 I wasn't expecting! But what do I do with it?

a) All towards Debt
b) £100 "treat", £200 Debt and £200 Savings
c) £250 Debt, £250 for spending money for my holiday in Feb 07

:mad: I dunno what to do with it without feeling gulity!!! :rolleyes:

Hiya

I haven't got any constructive suggestions for you but I have nominated this as one of Martin's 'Moral Money Dilemmas' to go into the weekly email, as it's such an interesting debate!

Hope you don't mind.