what can i buy for 50k?

robwend

neas wrote: »

From the posts i read it sounds like you are going to be a single mother of a couple of children (at least) and having just divorced received 50k... rather than sensibly save it you want to see what you can do with it. i.e invest it because you wont trust yourself with it otherwise..

Right?

correct, its alot of money to be responsible for, with kids on the take take its easy to get caught up in a cycle of overspend, hence investing.

TheChicken

I know this may sound silly but that £50k would be a very good deposit on a house of £100,000, then a mortgage of £50k at about £300/month instead of rent? Or have I missed the point?

Ch!ck

robwend

TheChicken wrote: »

I know this may sound silly but that £50k would be a very good deposit on a house of £100,000, then a mortgage of £50k at about £300/month instead of rent? Or have I missed the point?

Ch!ck

yes babe lol cant get mortgage lol

sarah_elton

What is the world coming to when you can blow £50k on cars and boob jobs and still get benefits, but you'd lose benefits if you put the £50k in a trust fund for your kids' education?

:mad: <- that face is at the system, not at you OP

TheChicken

I would look at seeing if you could get a family member to invest into a house with you then - I would have thought with that as a deposit a mortgage company would be begging for your custom!
Or if you know somebody is buying a house and can't meet the full mortgage offer to buy with them and they pay you rent...
Sounds like a headache to me! Really wish I could be of more help!
Erm......
Deposit it into split savings for your children so when they need it for uni etc they can have it at 18 and save £7,999 for yourself to make yourself eligble for benefits. Thats the best I've got!

Ch!ck

robwend

my POINT !!!!!!!!!!!!!!!!!!!! its pathetic!! and wrong,but if thats the way it works i cant fight it,im just looking at it this way now. "it was a gift and im to enjoy life for a bit!, if i look at it the other way il just get depressed about it. i look it as"well i managed before i had it" im sure il manage when its gone

robwend

TheChicken wrote: »

I would look at seeing if you could get a family member to invest into a house with you then - I would have thought with that as a deposit a mortgage company would be begging for your custom!
Or if you know somebody is buying a house and can't meet the full mortgage offer to buy with them and they pay you rent...
Sounds like a headache to me! Really wish I could be of more help!
Erm......
Deposit it into split savings for your children so when they need it for uni etc they can have it at 18 and save £7,999 for yourself to make yourself eligble for benefits. Thats the best I've got!

Ch!ck

yes ive been askin about with freinds about investin in property
with them, dont think anyone wants too at the mo do you lol ,nasty market

TheChicken

OH and certainly have a holiday to relax! ooooooo! can you not get a holiday home abroad or buy a holiday chalet in wales so you can go somewhere to relax!

Ch!ck

robwend

TheChicken wrote: »

OH and certainly have a holiday to relax! ooooooo! can you not get a holiday home abroad or buy a holiday chalet in wales so you can go somewhere to relax!

Ch!ck

fraid not lol, i have to live off most of it. i cant just invest 50k and walk into council and say ooh ive brought a house>as they told me on phone lol>coz they will make me move to wales!!! lol then loose me job kids school ect ect. its a no winner.il end up far worse off on income suport!! noway hosay!, but im sure i can LOOSE say 20k. ive plenty of freinds who will help.

TheChicken

Invest in a local buisness? Or put it in shares? then you can still get something out of it!

Ch!ck