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What would you do with 15,000?

So we sold some property and this will be our cut.
We are planning to put it into savings, hubbs paycheck is good and we really dont 'need' anything. We do want to get my FIL a car, but we are thinking 5000max, and we will be making 'payments' to make up with that money. We do have some debt, but only our car payment 300/mo and a CC is about 50/mo that are charging interest. The rest of the things we owe are still under the 'no interest' bracket.
I was thinking we could pay everything off, but then it would be easier to get new debts. And thinking about it being in the bank isnt so appealing to me, lol. We rent right now, but we dont want to settle where we are at, we are paying $200 in rent, so its no biggie. Plus we have other plans. Nothing we'd need a big chunk of money for.

Answer Question

Asked by Anonymous at 1:37 AM on Jan. 14, 2011 in Money & Work

Answers (11)
  • i would put in the bank just in case my hubby loses his job

    Answer by dutchcanadain at 1:42 AM on Jan. 14, 2011

  • I would save it. i would just have it in the bank for an emergency. Omg I would love to have to pay $200 a month in rent. You are lucky :)

    Answer by gangstamami66 at 1:47 AM on Jan. 14, 2011

  • If I were you I would just half in an IRA or CD for later and the other half in savings.... but for me if I had that I would buy a new car and give my current one to my car-less daughter in college. I would also allow my dh to buy the gun he wants and the trail cams and new deer stands he wants and we would fix up the rv

    Answer by alotleft2do at 2:05 AM on Jan. 14, 2011

  • Id fix my credit& put some money down for a home& if i have leftovers get my boobs done.

    Answer by gabby06 at 2:15 AM on Jan. 14, 2011

  • We'd pay off our truck (we owe like $7000 on it) and all the medical bills from when our youngest was born last year and then....
    That's our only debt. After that we'd probably use the rest on furniture. The kids need beds and we need new living room furniture.

    Answer by justanotherjen at 2:27 AM on Jan. 14, 2011

  • i would pay off our bills and buy a car...i have baby #3 on the way and my little accord can't fit 3 cars seats! lol

    Answer by nickellmomof2 at 2:48 AM on Jan. 14, 2011

  • If it was me I would pay off the credit card and car and bank the rest. I hate paying interest on loans.

    Answer by confused969 at 10:30 AM on Jan. 14, 2011

  • pay off bills & go from there..

    Answer by girliemom0406 at 12:43 PM on Jan. 14, 2011

  • Pay off the car then invest it.

    Answer by HotMama330 at 3:04 PM on Jan. 14, 2011

  • Great ideas. We probably have about 7000 left on the car, and the cc is 1400. so the cc for sure, and the car maybe half of it, we'd still be giving the same payments, because we wouldnt refinance, but we'd finish faster.
    furniture, we need a bed, we literally have the mattress on the floor, lol. and a bed for my DD. we'd probably need a table but the 4 chair one is enough for us, plus i like having so much space in that dinning/kitchen room.

    Comment by Anonymous (original poster) at 3:26 PM on Jan. 14, 2011

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