What to do with £5,000?

hollyh

Hi sorry if this is in the wrong place.

I would appriciate some advice, I have just been given £5,000 and do not want to waste it.

I have just paid off my credit card bill so am no longer in debt.

I have no mortgage as i am renting.

I want to buy a new car spending no more than £2,000, but as there is nothing wrong with my car apart from it being 12 years old i feel as though that would be a waste.

I am also going to use some to extend my maternity leave until March.

I suppose some will also go on Christmas.

That would leave about £1,000 ( if i go ahead and buy a new car )what should i do with that so it doesn't get left in the bank and squandered?

I would very much appriciate your opinions and what you would spend the money on.

Pink.

Hi hollyh,

You should get more help with this on the Savings and Investments boards, so I'll move your thread over there.

Pink

Mics_chick

IMO If you want to buy a car and you have spare cash spend as much as you can on one because in my experience the younger the car the less you have to spend on it in the future. Buying an old banger for a few hundred quid isn't worth it if you're always spending on it!