If you inherited $50,000...

[cynsaun]

What would you do with it?

Discuss.

 

[BuckNaked]

It would go towards buying a house.

 

[Mom2be]

I would put it into a retirement account - I know, I'm boring.
~Amanda

 

[imsorry]

Buy hubby a Lexus truck

 

[Shane]

Life Supply Of Ice-Cream!

Hmmm, a holiday home.

 

[staci]

Put it on our mortgage, along with some extra from our savings account and taxes, and get the house paid off and save on some interest.

Then we would just start throwing the paychecks into savings instead of the house payment.

 

[cardaway]

Paying off the house. To be free of the house payment even sooner in life...

 

[disneyfanforever]

Pay off my debts to my parents. The rest (well most of it anyway) would go into savings for our kids education. Private schools are definitely hurting our current cash situation.

 

[Bob Slydell]

Finish off our basement.

Heck, we're doing it anyways, it would just be nice to pay cash rather than a HELOC.

 

[Galahad]

Paying off the house. To be free of the house payment even sooner in life...

What he said

 

[cynsaun]

Life Supply Of Ice-Cream!

Hmmm, a holiday home.

A life supply of ice cream!

 

[jennyl772003]

Well, something VERY similar just happened to me.

Some is going to pay off our CC bills and the like (nothing huge)
The rest is going to sit until our credit score gets good, then it becomes a down payment for our house.

 

[Royalbear]

We may be in this situation--will know more once probate is done.

It is funny, but the more money I have in savings, the more I want to keep (in savings and investments). I've become more frugal with added monies, so I guess with the exception of a small allowance for something (ie trip to Disney), it would be tucked away.

The inheritance, by the way is from my dh's grandma and he says he cannot dishonor her memory by spending the money grandiosely. She did not get this inheritance by being a big spender, she got it by living well within her means and he intends to honor that lifestyle. BTW he lives that lifestyle--he is 42 and I swear that he still wears clothes that he got in high school--because they are still in good condition. I, unfortunately, am not quite that frugal, but I am working on it!

 

[Maleficent13]

Pay off the bills and buy a Harley.

 

[Crankyshank]

either pay off both cars, re-do the kitchen and expand our bathroom or..

pay off one car, waterseal the basement/put up drywall/put down a floor (we can't legally finish our basement, do the kitchen, and put a dormer on our 2nd floor.

 

[stinkerbelle]

put it aside until I have a child...then use that money to cover expenses so that i could "stay at home" as long as possible.

 

[jbdreamer]

Downpayment on a new house.

 

[coliebird]

Put the addition on our house that we want. We have no basement so we really want a nice family/play room.

 

[RitaZ.]

It is funny, but the more money I have in savings, the more I want to keep (in savings and investments).

I know what you mean, I've become this way too.

I would use the money for our kids' college education.

 

[Disneynutbsv]

pay off some bills and use some toward vacation