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What do I do with £2000 from my mum?
Karmacat
Posts: 39,460 Forumite
What to do with an unexpected bonus ....
2023: the year I get to buy a car
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Comments
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Karmacat, I don't know anything about your situation, income etc, but my gut feeling would be to pay it off the mortgage - a larger debt that you're paying interest on.
Have you thought of the third option of putting the £2000 in a high interest account and leaving it there til you need it for the building work?Total debt: 1 January 2007 £[strike]49,387.79[/strike] 1 January 2012 £[STRIKE]19,312.85[/STRIKE] 1 August 2012 £11,517.620 -
Hi Seaxwyn, yes, I have thought about that, its a real possibility.2023: the year I get to buy a car0
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Personally I would pay it off the 0% if it's going to help your immediate cashflow problems.Total 'Failed Business' Debt £29,043
Que sera, sera.
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Has the spidery porch gone now? That must make you feel better!Total debt: 1 January 2007 £[strike]49,387.79[/strike] 1 January 2012 £[STRIKE]19,312.85[/STRIKE] 1 August 2012 £11,517.620
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immoral_angeluk wrote: »Personally I would pay it off the 0% if it's going to help your immediate cashflow problems.
Thanks IA - its tempting, isn't it.2023: the year I get to buy a car0 -
Oh yeah, spidery porch has gone! The new one is fabby, its got a slightly higher roof for various builder-y reasons (only about six inches) and its got plain lines, its lovely! Not quite finished, so not quite spider-proof yet, but I'm so, so chuffed. I even bought a doorbell, and have already put it up, which is a miracle for me!2023: the year I get to buy a car0
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Gut instinct is seldom wrong in these situations. Whatever you use it for will be good, if it is being paid off the debt. So if you feel more comfortable doing one thing rather than the other, then that has to be the best thing for you to do, I reckon.Successful women can still have their feet on the ground. They just wear better shoes. (Maud Van de Venne)Life begins at the end of your comfort zone (Neale Donald Walsch)0
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If you didn't have to pay the credit card every month though, you'd have more money available for living expenses.
Could you pay a half off each? For the credit card half - hold some of it back so you have enough to pay the repayments for the next few months so you won't need to worry about that.
That's what I'd do.. but then I've never had a mortgage.0 -
Gut instinct is seldom wrong in these situations. Whatever you use it for will be good, if it is being paid off the debt. So if you feel more comfortable doing one thing rather than the other, then that has to be the best thing for you to do, I reckon.
You know, thats true.Adrasteia01 wrote: »If you didn't have to pay the credit card every month though, you'd have more money available for living expenses.
Could you pay a half off each? For the credit card half - hold some of it back so you have enough to pay the repayments for the next few months so you won't need to worry about that.
That's what I'd do.. but then I've never had a mortgage.
And thats true too....2023: the year I get to buy a car0
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