Poll: What would you do with "found" money?

[FergieTCat]

Recently, I was given a large sum of money. It was unexpected and in excess of my budgeted expenses.

What would you do? Be prudent and put in in the bank? Go on a vacation to WDW with a room in the AKL, Savannah view? Pay off credit card debt?

I haven't decided if I should be responsible or WDW bound.

 

[lindakmonty]

pay off credit card debt if you have any first

 

[Kimberly]

How much credit debt do you have? Paying off that bill alone can save you thousands in interest each year in the long run. Think long term... Disney World will always be there.

 

[pearlieq]

I like the general "windfall rule". 10% for fun (any kind of fun, no questions asked) and the rest toward building wealth (that could be debt repayment, investing, college fund, or other things that help your overall position).

Have fun!

 

[Bob Slydell]

I'd save it, but then again, my credit cards are paid off and I don't have any WDW trips planned.

 

[Raysplus1]

Pay off your credit cards. It is te wise thing to do.

 

[Chilehead Too]

Pay the cards off.

 

[AprilShowers]

Pay off the cards FIRST. If you have money left over, take a vacation. If you DON'T have $$ left over, save the interest you were paying on those credit card balances and go on vacation!

I read an article once that said with "found" money you should take a vacation. The memories you generate on vacation will last forever. Other things go away after time, (cars, clothes, movies, dinner out, etc.)

 

[SplshMtn99]

That just happened to me Saturday. Received 5 wks pay from a job I quit in Feb (5 MONTHS ago). I had written off ever seeing that $.

I added it into savings since we have no debt other than mtg balance which is less than 30K.

 

[SC Minnie]

It depends on how much it is. If it is in the 1000's then pay of debt first. You can use the $ that you would have normally made the payments with to use for a trip.

 

[luvwinnie]

How much credit debt do you have? Paying off that bill alone can save you thousands in interest each year in the long run. Think long term... Disney World will always be there.

Kimberly, you live in Mahway? My DH works in Ramsey. And I see you go to school in Newark. I went to Rutgers-Newark and my niece goes there now.

 

[NMAmy]

We don't have a lot of credit card debt so I'd put it in the bank.

We have this situation coming up--Some is going to dh's grown dd, some in a trust fund for dd, and the rest is going straight to the bank.

 

[jx3smom]

I'd pay off the vet bill that I am currently running up. My sweet Minnie is very ill and in a specialist hospital 75 miles away. She 13 months old and has a tumor in her chest, we will get the results tomorrow. I can't stop crying. Her bill so far is:
$ 750.00 local vet
$1,500.00 down payment at the hospital with an estimate of $1,800-2,000 but that was before the biopsy. If any one cares to pray for her please do. Pray that it is not cancerous.

 

[disykat]

I voted pay off credit card. However, since I have no credit card debt and my savings is healthy - I'd be taking a trip!

I could have marked all of the above though because I would probably put some of the vacation money I had already saved into my long term investments, up my charitable giving a bit, and spend some of it on fun stuff for the house or myself.

 

[TiggersPal]

We don't have a lot of credit card debt so I'd put it in the bank.

We have this situation coming up--Some is going to dh's grown dd, some in a trust fund for dd, and the rest is going straight to the bank.

Hey Diser!!! I am huge Luke fan myself - the only reason I've stuck with the show this long (ok, Rory too...) He's a doll isn't he? I have dreams about him (and I'm a grown woman with a lovely hubby) but that's a crush for sure - isn't it?

 

[MorganLeFey]

I'd use a portion of it for something fun -- maybe staying at Pop Century instead of AKL -- and use the rest to pay down some debt.

 

[Disney-Kim]

If the credit card balance is one that you will charge up again...then don't pay it off.
I would say go on the vacation. It would be totally paid for and no burden on your finances and no charges on your credit card.
just save it for now...then decide.

 

[Pooh67_68]

Pay off credit card balance.

 

[Blondie]

I like the general "windfall rule". 10% for fun (any kind of fun, no questions asked) and the rest toward building wealth (that could be debt repayment, investing, college fund, or other things that help your overall position).

Have fun!

That's what I recommend too!

 

[jimmalru80]

Is "all of the above" an acceptable response??