How would you spend. . .
By dorannmwin
@dorannmwin (36392)
United States
February 16, 2010 1:46pm CST
If you were to suddenly get a deposit into your checking account of $10,000 how would you spend it? You were expecting this money so it is not a error on the bank's part, but it is also far more money than you've had on your hands for several months. Would you do something extraordinary or would you put it in savings? What would you do with the extra money that is rightfully yours?
Us, we just got a deposit last week that we were expecting and so far we've bought a new television (our old one had a crack on the screen and the new one will give us more room in our living room). We are also planning on paying off two credit cards as well as giving my mother the money that we owe to her. Then, I don't know what we are going to do with the rest of it, perhaps savings??
Share what you are going to do with your windfall deposit into your checking account.
13 people like this
62 responses
@blummus (451)
• United States
16 Feb 10
Well, I'm actually hoping for a settlement in that general range in a few months, so I've given the matter some thought. I have a few debts to pay, and I'd give my sister part of it as well before moving out of her apartment, where I've been staying the last couple of months. After that, I'd buy myself a couple hundred dollars' worth of shirts and jeans and perhaps one 'dressup' outfit, as I could do with a few more clothes.
Once moved, I'd bank most of what's left against the possibility of future need. My needs day to day are pretty simple, and an upgrade to a new netbook would make my life in general very sweet indeed.
@dorannmwin (36392)
• United States
17 Feb 10
It is amazing to me that there are such simple things that make people happy in their lives. I'd love to have a netbook but it isn't something that my life is depending on.
@dorannmwin (36392)
• United States
18 Feb 10
It is a very nice thing to have a computer that you can make use of when you are away from home. I've found with our laptop being able to take it with us when we are away from home really has helped with my general productivity.
@phoenix8606 (4942)
•
16 Feb 10
Hi! If I suddenly get a deposit into my checking account of $10 000, i think the first think I will buy, or rather will pay, is my study fee at the university, because at the moment it is the most important thing, for which i need money. Then I will go to a nice trip to some countries from different parts of the world, because as many others, i also like to travel a lot
2 people like this
@dorannmwin (36392)
• United States
17 Feb 10
That would be a very smart move because of the fact that in the long run the money would be given back to you tenfold in your future career.
@dorannmwin (36392)
• United States
18 Feb 10
I too love books and would love to possibly have a bookstore at some point in the future, but it wouldn't be lucrative for me right now because we live in an area that is too saturated.
@phoenix8606 (4942)
•
17 Feb 10
yeah, you understood me right :) I want to invest in my education, because I think the better education I have, the better job I will find and I really hope someday, to have my ow book store, because I love books so much!
@drakesuyat (1063)
• Philippines
16 Feb 10
hi dorannwin! $10,000 is a big amount here in our country. its almost half a million to us. i really have a different belief when receiving money. i always think of how i can multiply the amount. normally, i buy things for wholesale and sell it on retail afterwards. i always do the buy and sell thing. the amount that i'll earn from it will be use for buying those things that i always dream of having. most of us become impulsive buyer whenever we receive an amount that we really would tend to buy this or that when we never really need any of those during the time that we don't have the money in our hands yet. next thing we'll realized is that, the amount is nearing zero. good post my friend!
@dorannmwin (36392)
• United States
17 Feb 10
It is a good idea to think of ways that you are able to make your money grow. I've thought about investing part of ours, but there is nothing that is really paying decent interest at this period in time.
@Hatley (163776)
• Garden Grove, California
16 Feb 10
hi dorannmwin Have to think on this one, first I would see how much it would cost to buy out a computer repair shop, if it would not take too much money I would buy it and make my unemployed son the repairperson, then once the business was making profit would ust some of the leftover moneyh to get us me and my son, into an apartment, but would wait for awhile to see the business prosper first, then move out of this retirement center. great dream , would love to see that much money.he he he.
2 people like this
@dorannmwin (36392)
• United States
17 Feb 10
That would be a great thing to be able to do because it would not only improve your life but also your son's life as well.
@SomeCowgirl (32191)
• United States
16 Feb 10
I'm assuming your talking about tax refunds? Well hubby and I got ours but it was not nearly that much. If we were to geet $10,000 in our account we'd buy a car with it. We're planning to use our tax money, and money that was owed to us to pay for a car. We'll probably use some of the other money that's already in our account for a down payment. If we weren't planning to use it for the car, or it was extra, then I'd say we'd most likely save it, maybe spend part of it on some of our wants, but most of it would go into a interest bearing savings account until we were ready to buy a house or doublewide.
2 people like this
@dorannmwin (36392)
• United States
17 Feb 10
I am personally referring to our tax refund, but there are other people that get money for other reasons and I wanted to make this to be all inclusive. I personally think that saving money until you are ready to buy a house is a wonderful idea.
@gicolet (1702)
• United States
16 Feb 10
I think you've made good decisions on where you used your extra money so far. Me? I'm just going to save them up for my daughter's college 2 yrs from now. I need more than $10,000 actually...cause I have another daughter who's 12 and wants everything in the world from macbook laptop to taking fashion designing course someday in europe. lol Like her, i like dreaming sometimes...but who knows right? happy mylotting :)
2 people like this
@dorannmwin (36392)
• United States
17 Feb 10
It never hurts anyone to dream. Though she may not ever have the opportunity to study fashion design overseas, she will have the opportunity to learn it one way or another if that is what she really wants to do.
@skysuccess (8858)
• Singapore
16 Feb 10
dorannmwin,
I suppose it would the that designer handbag that my wife is saving so hard for and whatever immediate outstanding bills. A well deserve dinner treat for the whole family where it may bring us to another country not faraway from us. My wife and I just like it when we can be a distance away from our daily distractions like work or favors from friends.
Then, the balances will go into our family's savings account, where it will be reinvested. My family just do not believe in spending every cent of our monies or paycheck to paycheck.
@skysuccess (8858)
• Singapore
17 Feb 10
dorannmwin,
I hope that your husband's health will get better, please do take care and be more attentive in this area.
Take care and have a nice day.
@dorannmwin (36392)
• United States
19 Feb 10
We've been very attentive in his health where it is concerned, however in suffering with kidney stones it is a long term treatment and very expensive as well. I hope that he is on the mend now, but the battle is still not quite over.
1 person likes this
@dorannmwin (36392)
• United States
17 Feb 10
My family doesn't like to spend every bit of our money either. This past year was tough for us because we moved and also because my husband had to deal with a lot of medical issues so it really has made our finances tight, but I think we've also learned some valuable lessons from that experience.
1 person likes this
@sk66rc (4250)
• United States
16 Feb 10
This might sound little boring but I would pay off few bills. I would pay little extra into each bill so I don't have to worry about them for next few month, possibly for a year. My cell phone is around $90/month so if I paid $1200, then I don't really have to worry about it for a whole year. Cable bill is around $80/month so may be around $1000 for that. Samething with electric bill & water bill & few other monthly bills. Then whatever I have left over with, I'll probably go on a vacation.
2 people like this
@dorannmwin (36392)
• United States
17 Feb 10
No, it's not boring at all to pay bills ahead. I considered doing this with our cable, but they are bad about "losing" money so I'll just pay them monthly.
@smukherjee_on_line (578)
• India
16 Feb 10
I think you are in daydream.However If I get this amount of money at first I will buy a bike and go for a dinner in 5-star Hotel.......And then I will deposit the remaining part in savings account........
2 people like this
@dorannmwin (36392)
• United States
17 Feb 10
To a certain extent, it is a daydream, but then we just got back our federal tax return and it wasn't that far from being $10,000.
@CJscott (4187)
• Portage La Prairie, Manitoba
18 Feb 10
Don't count your house as debt, that is an appreciating asset, and you can use a lot of bills on your tax returns in relation to your home business, never forget that, talk to your accountant about it.
Cheers, I appreciate you.
@dorannmwin (36392)
• United States
18 Feb 10
I consider the house to be a debt for the simple fact that it is a bill that we have to pay on a monthly basis. However, you've brought up some very valid points here and I really appreciate them.
@dorannmwin (36392)
• United States
17 Feb 10
If we hadn't negotiated with our creditors in September that would be what I would have done with a large chunk of money. However, we now have a relatively short term payoff plan and lowered interest rates so it isn't as much of concern to us now. Worst case scenario at this point in time is that it will take us until March 2013 to be completely out of debt except for our house.
1 person likes this
@lelin1123 (15595)
• Puerto Rico
16 Feb 10
If I had 10,000 dollars deposited in my checking account I would first pay off my two credit cards. I would then send a check to my parents to help them out a bit. I would then go do a big food shopping and maybe buy some deserved clothes for myself. I would buy a nice big gift for my granddaughters birthday. Then put the rest in my savings account for a rainy day.
2 people like this
@dorannmwin (36392)
• United States
17 Feb 10
We are going to be paying off two of our old credit cards. Over the last five months my husband and I have learned to go without using credit cards and we are now just paying off the debt from the old ones and I really appreciate the lifestyle that we now have.
@much2say (55668)
• Los Angeles, California
16 Feb 10
I think for sure we'd throw it all into paying off my husband's student loan (yes, he's still paying for it as tuition was so expensive at this fancy art school). That's probably what's holding us back the most! Oh I love these money questions . . . now if only they'd actually happen!!! 
Congrats on your new television . . . is it the new flat screen or plasma?
Congrats on your new television . . . is it the new flat screen or plasma? 1 person likes this
@dorannmwin (36392)
• United States
17 Feb 10
We decided to go with just an LCD television because they are supposed to last far longer than a plasma screen. We've been watching everything that we can in high definition and it is absolutely amazing.
@dorannmwin (36392)
• United States
18 Feb 10
You do know that if you come into more money than you are used to having that you should invest in something fun for yourselves as well as the practical things. This tv that we've got is awesome, I'm loving watching the Olympics on it.
@much2say (55668)
• Los Angeles, California
17 Feb 10
We were looking at those at Best Buys yesterday . . . I love how sharp things look on screen these days!! High definition is certainly amazing!! Well, maybe if we get that $10,000 for reals, we can get rid of "most" of the student loan - and maybe splurge for something like a new tv - hee hee! Enjoy!
@randylovesdar (4932)
• United States
16 Feb 10
I would get caught up on some of my bills as well as try to start a family. I would also get a few things fixed around the house. My kitchen floors squeak a lot and need fixing pretty badly. I want to start a savings account, but we may have to hold off a while until we get back on our feet again.
1 person likes this
@dorannmwin (36392)
• United States
18 Feb 10
I think that it would be a wonderful thing to be able to share recipes on here as well because I really like to try recipes that have been recommended by other people although I will try some that I find on the internet as well.
@dorannmwin (36392)
• United States
17 Feb 10
I feel that it far more important to be on your feet than it is to have a savings account. I hope that you are able to get back on your feet again soon.
@randylovesdar (4932)
• United States
17 Feb 10
Thank you. I am hoping to get back on my feet soon. I am a frugal shopper and a frugal cook. I am always looking online for easy recipes that do not use that many ingredients. I wish we can share recipes on here.
@kyvin147 (78)
•
17 Feb 10
HI dorannwin..
If i will be given that kind of opportunity i will stabling a small business and try to make that money grow and after my money grows i will donated some of my money to the orphanage and charities...so that i can help other people that needs my little help..:)
@dorannmwin (36392)
• United States
17 Feb 10
You are a very kind and generous person to have listed helping other people so high up on your list.
@recycledgoth (9894)
•
17 Feb 10
*sighs* oh how I wish .....
In that situation I would be able to pay off my debts and bills, to be able to have a clean slate and to start again. I could afford to spend a little more on my wedding, maybe even have enough left over for a short honeymoon too
@dorannmwin (36392)
• United States
18 Feb 10
When my husband and I got married six years ago we used my tax return to finance the greatest majority of our wedding. It was nice to be able to have a memorable wedding and we did get a honeymoon as well because my in-laws paid for one for us as a wedding gift.
@Ingkingderders (3832)
• Philippines
17 Feb 10
I would probably start with paying off my credit card debts. Then, I would put some in my savings account, and then the rest, I think I would buy some appliances or some furniture. And then I'll probably spend a big part on a vacation, cause I really love traveling, and I'm all for having some time for just relaxing and having no worries.
@dorannmwin (36392)
• United States
18 Feb 10
Very smart way of going about how to spend your money. I commend you for being responsible.
@lostsouls (23)
• United States
17 Feb 10
first of all I would pull the money out of the bank to make sure it was real. Next I would go pay up my car paymnt to date then I would pay 3mths up on my rent and what was let over I would spend on somehing nice for myself. I'm long past do for somthing for me.
1 person likes this
@dorannmwin (36392)
• United States
18 Feb 10
It is also a rare thing for me to be able to do something nice for myself. My children come first, but I have to admit that I am seriously considering buying myself a new pair of jeans.
@dencher315 (155)
• Philippines
17 Feb 10
Hi dorannmwin,
Given the same scenario, I would do the same thing as you did. It's a good decision to keep the remaining money in the bank so you'll have something to use if you most needed it. You will also have a tendency to save more cause its so good to see your savings grow. Happy savings...
1 person likes this
@dorannmwin (36392)
• United States
18 Feb 10
I too think it is important to save as much as possible. You never know when there is going to be some expense that you didn't count on.
@hwke12 (24)
• United States
16 Feb 10
Actually, I have this experience twice. But not so much many, 1st is $2000 the second time is $3000. The first time I just call the bank and tell them they made the mistake, and then they take the money back, the second time I just wait them call me, and about several days later, the bank call me said they made some mistake, and then take the money back.
I kind perfer them send me some gift as thank you, but no! So, a little bit disappointed. But this is not mymoney, I should not keep it!
@dorannmwin (36392)
• United States
17 Feb 10
What stinks about the banks is that if they make a mistake that hurts you, you have a limited amount of time to let them know about it. However, if they make a mistake that harms them they are able to rectify it years later if they want to.
@aWkiee (31)
• Norway
17 Feb 10
Well this would be a dream come true at the moment. Being unemployed with no money and a creditcard bill i would definetly pay off my bills. Can't really say I would do anything exciting. Maybe put half of it away and spend some on a party. Could really need to relax a bit.
@dorannmwin (36392)
• United States
18 Feb 10
Being unemployed is a very difficult situation to be in. I hope that you are able to find yourself in a better situation soon.
