$150 money gift, what would you do with it??

**dancar3** · 02-20-2008, 02:44 PM

One of my relatives that I haven't seen just wanted to give our family a little money that he says is a belated Christmas gift. We gave the kids their share and my dh and I are debating what to do with the rest. Sure there's a part of me that says to put it towards bills, but then I wonder if that's the what should be done since he probably hopes we would get a little something with it. Some of my thoughts are taking advantage of these meat sales and stocking up, perhaps buying this awesome coffee maker called the Keurig B40, or maybe just putting it towards our emergency fund. When someone gives you a monetary gift, do you put it towards your bills or buy something special with it???

**changed4life** · 02-20-2008, 02:46 PM

If I needed to pay down debt, I'd do so. Then, maybe take a little of it and enjoy a nice lunch with hubby.

**suki** · 02-20-2008, 02:50 PM

It depends, I've done both. If I really, really needed help with my bills and applying it that way would bring me some relief I considered it a tremendous gift and applied it in that manner. If my bills were fine (no real worries), they weren't overwhelmingly large, and I was making progress... I'd buy something special with it.

Whatever would bring me greater relief and joy is usually how I spend gifted money.

**Samigirl** · 02-20-2008, 02:52 PM

I would use most of it to pay down debt, or stock the freezer/pantry with good sales....then spend a small amount of it on something fun.

**McD** · 02-20-2008, 02:54 PM

I always do something special with cash gifts that are given.

Helps keep me on track to reduce my debt overall.

**Holly** · 02-20-2008, 03:02 PM

First I'd faint,
Then I'd stock my pantry with canned goods and my freezer with meat.
There's nothing wrong with using it for something special either.

**FrugalWitch** · 02-20-2008, 03:34 PM

My suggestion would be if there is any debt/bills put it towards that first.

If there is no debt then stock the freezer/pantry.

If the freezer/pantry is stocked and there is no debt then I would put $100 in savings and use $50 for a small splurge as a reward for having no debts and a stocked pantry.

**ilovechocolate** · 02-20-2008, 05:13 PM

Pay down debt!!

**hmcart** · 02-20-2008, 05:59 PM

hmmm, I would probably put it towards bils if there was something that really needed to be dealt with right then. Other wise I would probably use it for stockpiling groceries or something that we need for the house but have been waiting on.

**nuisance26** · 02-20-2008, 07:12 PM

~I budget only $100 each month for entertainment and fun money and dh an I split it. So when we get gift money we buy something fun! There are alot of things you could buy with the money that are fun AND frugal. I take a weekly dance-aerobics class(12 weeks=$60) that is super fun but *hopefully* has money-saving health benefits. Tools for the kitchen make the work more fun and faster, which makes you want to eat at home more. I don't know about the coffee maker. Even a cheapo maker will brew a great cup of coffee. Small home improvements to add comfort(insulation)or beauty(windowboxes and landscaping plants)can also boost your home's value. If you really feel that the debt is a burden then you should apply bonus money to it. Just save a little for a small splurge for yourself so you don't feel deprived.~

**contessa20** · 02-20-2008, 07:52 PM

It depends. If it were just for me I would save it and use it for something special that I had been wanting. If it was just for DH and I then we would likely use it for bills, groceries or something that we needed for the house. If it was for the whole family though I would probably use it for a special family outing, maybe a local museum, theater, zoo, aquarium or something like that that the whole family could enjoy.

**sdrjeolsen** · 02-20-2008, 08:10 PM

I'll usually put it on the mortgage or use it to buy something practical, like groceries.

**peanut** · 02-20-2008, 10:41 PM

When family gives the money just to me, I spend it on a gift or something special for me. An outing DH normally wouldn't go on, etc. But if it's a gift to the family I'd do what you've already done, split it between the four of you and decide what you all want it to go towards on your own.

I guess a lot depends on the amount of money and your current needs. I mean, if you already have a functioning coffeemaker, I wouldn't bother buying a newer one. I'd pay down the bills and do something nice for myself with it. If there's enough for that.

I'd resent it though if I were expected to put some of my money to bills and DH wasn't doing the same with his. That's just me though. I guess what I'm saying is it really has to be what you want and not something you're going to regret later.

Jean

**AspiringToBeFrugal** · 02-20-2008, 11:32 PM

Originally Posted by sdrjeolsen

I'll usually put it on the mortgage or use it to buy something practical, like groceries.

I'm pretty practical too. If I had a number of bills, I would probably use the extra cash to pay one or more of those down or pay them off completely. However, if my bills were under control, I would probably put some into savings and then spend a bit of it on something fun. I also agree with whomever posted about a cheap coffee maker making a great cup of coffee. Best of luck deciding what to do!