I was having a conversation with my other half last night about a lot of ‘What would you do if ____?’ scenarios. She asked me ‘If you were given £100,000 what would you do with it?’. This particular topic jumped out at me as there are so many different things to do with such a large sum of money.
Personally, at 22, I think i would invest £80k of it into a depost for a house that needed a bit of tlc and spend £10k doing some refurbishments, new carpets etc. After that, I’d have £10k to buy a few things including a new car, new phone, eat out more frequently, maybe a holiday?
I thought it would be interesting to get other people’s opinions. Let me know!
I was careless when I was younger and have got into debt which I’m paying off now, aiming to be debt free by the middle of next year. I’d pay off the debts and use the rest towards a property and possibly a car.
The best thing to do if you ever come into any size of fortune, is to not spend any of it for the first couple of weeks.
Let your emotions settle down, otherwise you might buy something you’ll later regret.
Once your emotions have settled, then a deposit towards a house is going to be the smartest move for me. I would probably HomeKit the hell out of it and then treat my partner to a holiday somewhere hot.
Having no debt is bad debt. Probably would be a good idea to have some debt e.g. only leave 30% of your credit card balance. It’ll do wonders for your credit score.
tbutz
(🏳️🌈 Producer of "low value commentary")
11
Pfft, you people.
Frittering on daft crap you don’t need is the way to go!
I would put it towards a house deposit for sure , then as corny as this sounds a holiday for my mum. She brought me and my brother up as a single parent and looking back she did a lot so the least I can do