Right now... a CD. I don't know how long these interest rates will last, but when they do go back down, that $2500 could have turned into a nice little vacation sum.
Vacation unless there is something big that needs to be replaced. Like a new laptop or camera, and then buy something better than my budget normally allows.
If it's unexpected money, I am in favour of spending it on something fun.
Put it in our checking account with the large amount of cash just sitting there for major home improvements that have been put off due to Covid and high prices. It wouldn’t even cover a monthly credit card bill.
If I had credit card balances or personal loans, I would pay them off first. I wouldn't bother with car loans or mortgages as $2500 probably wouldn't make a big dent. Since we are debt free, I would either (1) invest the $2500 or (2) add it to some earmarked savings account.
Wow that amount of money for dad and I would be a fortune. Different uses including to use part of the money in an anonymous way that I pray would make a kind difference to God. We would also invest/put away as much as we could. Use some for necessities for sure, too. Maybe something small fun for each of us too. Fun to think about for sure
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