£5k windfall - what shall I do with it?

cupboardie

Hi,

the flat cost £250,000 and required a lot of costly renovation, brand new appliances etc. He paid £60k deposit, I think he has to pay £900 minimum but overpays when he can.

I pay the broadband 100% - £30 isn't half, it's the total.

I'm happy with the amount he asks me to pay, we live in london, zone 4, 2 bed flat (ex council block but area is on the up)

BananaRepublic

Speaking for myself, I would pay off the credit card debts, as I hate owing money. However, if you are sure that you will pay them off without incurring more debt, then by all means pay into a pension, or a stocks and shares ISA as long term investments. Retraining sounds good, but only if the course is useful. There are plenty of courses that are not as useful careerwise as they claim. I'd still pay off the debts, then once they are paid off, I'd start saving to invest or retrain. As I said, I hate debt, it is like a ball and chain around the neck. What if you become unexpectedly unemployed? How would you pay it off then? :eek: Live within ones means is my mantra, and I am perhaps too cautious, but I'd rather that than the other extreme.