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Car v mortgage v holiday v debts

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James
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2015/01/25 10:55:59 (permalink)
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Car v mortgage v holiday v debts

If you won £20k tomorrow, would you buy a new car, pay off some of your mortgage or another debt or go on a flash holiday with your family / friends.  Or something else?
#1

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    faipdeooiad
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    Re: Car v mortgage v holiday v debts 2015/01/25 11:01:31 (permalink)
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    debts/mortgage first. you'd be mad not to, especially if the other option is to retain debt and go on a lavish holiday.
     
    We're looking at extending the house, so that'd be useful for that - it'd cover about 40-50% of the work we want doing.
    #2
    CloudStrife
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    Re: Car v mortgage v holiday v debts 2015/01/25 11:01:53 (permalink)
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    I would just do what the girlfriend told me to
    #3
    westbelfastguy
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    Re: Car v mortgage v holiday v debts 2015/01/25 11:16:54 (permalink)
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    I'd be penalised for paying more than 1k a year extra off my mortgage, so i'd put half the money in a savings account or isa, depending on what my sister, who works for a bank, would suggest and use that when my fixed rate term is up. The rest i'd use to do a bit more work to the house, go on a decent holiday, give some to family and learn to drive.
     
    I'd also toy with what to do with the outside space of my house. A small outbuilding that doesn't need planning permission to turn into a home gym is an option.
    #4
    westbelfastguy
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    Re: Car v mortgage v holiday v debts 2015/01/25 11:19:12 (permalink)
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    CloudStrife
    I would just do what the girlfriend told me to




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    #5
    Floydy
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    Re: Car v mortgage v holiday v debts 2015/01/25 11:58:49 (permalink)
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    Settle a monster consolidation loan.
    #6
    IamRich
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    Re: Car v mortgage v holiday v debts 2015/01/25 12:32:31 (permalink)
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    Debt then go travelling
    #7
    dementia
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    Re: Car v mortgage v holiday v debts 2015/01/25 12:33:29 (permalink)
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    With 20k, i could, and would do all three







    Life's journey is not to arrive at the grave safely in a well preserved body... but rather to skid in sideways, totally
    worn out, shouting
    Holy ****... What a ride!!"    
    #8
    Danny187
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    Re: Car v mortgage v holiday v debts 2015/01/25 12:50:13 (permalink)
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    Debts first then with any left over go on a holiday with the wife and daughter.


    #9
    Straighthate
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    Re: Car v mortgage v holiday v debts 2015/01/25 12:54:28 (permalink)
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    Donate it to MT.
     
    If not. Would donate it to a animal sanctuary that needs it.
    #10
    robert123
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    Re: Car v mortgage v holiday v debts 2015/01/25 13:15:44 (permalink)
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    I would pay off 5k on the mortgage as thats how much I can over pay per year, then see how much it would cost to do travelling with the mrs across most of america/canada and then stick the rest into savings. 
    #11
    Boss Redd
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    Re: Car v mortgage v holiday v debts 2015/01/25 13:26:54 (permalink)
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    Have no debts, so mortage over payment, or save it to pay if off another year.

    I do a lot of push ups and sit ups. And I drink plenty of milk.

    #12
    dazzz
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    Re: Car v mortgage v holiday v debts 2015/01/25 13:51:59 (permalink)
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    £20k would play off all my debts and give me a good deposit on a house

      




     
    #13
    BROKEN
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    Re: Car v mortgage v holiday v debts 2015/01/25 15:06:46 (permalink)
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    4 holidays for wife, kids and me. Yes I could put it on the mortgage. But at the moment my priority is giving my wife as much enjoyment out of life as possible.


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    #14
    LincsRic
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    Re: Car v mortgage v holiday v debts 2015/01/25 15:53:55 (permalink)
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    A modest family hoiday , then a bit of decorating and a new kitchen, what's left would go into the savings pot.
    #15
    JimJim
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    Re: Car v mortgage v holiday v debts 2015/01/25 15:55:48 (permalink)
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    clear off my debts, spend around £1,500 on some new music gear, put £2,000 towards my best mates stag/wedding (wedding is a 2 week knees up in italy and its my 30th bday) put the remainder of about £12,000 in to my ISA
     
    Do I get £20,000 now?

    JUST GETTING BACK IN THE GAME 
    #16
    jack5r
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    Re: Car v mortgage v holiday v debts 2015/01/25 15:58:12 (permalink)
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    5k on a motorbike
    5k on traveling
    5k saved
    2k on updating wardrobe
    3k to put towards snowboarding holidays

    Body Weight - 83kg 
    Bench - 145kg
    Squat - 190kg
    Clean & Jerk - 129kg
    Snatch - 98kg  
     
    #17
    Floydy
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    Re: Car v mortgage v holiday v debts 2015/01/25 15:58:58 (permalink)
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    Yeah, when do we get the dosh, James :)
    #18
    Rasputin
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    Re: Car v mortgage v holiday v debts 2015/01/25 16:01:46 (permalink)
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    Would put £20k into my business and hire a member of staff risk free :) 

    Ra Ra Rasputin lover of the Russian Queen, Ra Ra Ra Rasputin Russia's greatest love machine (Allegedly)
    #19
    lancs_lad
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    Re: Car v mortgage v holiday v debts 2015/01/25 17:48:31 (permalink)
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    jack5r
    5k on a motorbike
    5k on traveling
    5k saved
    2k on updating wardrobe
    3k to put towards snowboarding holidays



    Why? And on what?
    #20
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