If you won $50,000...

[danimarie0820]

If you were to win $50,000 what would you do with it? Would you still be frugal? Would you quit your job?
-thought this would be fun to see everyone's responses!

I would pay off my debt and put the rest in my savings account. I would still be frugal and I would also keep my job. Of course I would use the money for things I may need but I wouldn't go out and buy a bunch of new things that I don't really need. I like having the security of anything happening that I have the money to cover it...hopefully. haha

[Pianolady]

I'd set aside the large portion the government would take off the top, then pay off our equity line.

[Texasgirl]

We would pay off the house. Thats our only debt.

[my4littlebuffaloes]

Fun question, $50,000 really isn't that much money in the grand scheme of things, but it sure would help a lot. We couldn't quit our job, but we could certainly meet some of our goals. I would set aside $10,000 for the IRS, go to Disney on vacation, set aside $15,000 to replace our minivan when it finally dies, and open college accounts for each child $5000 a piece. Assuming the vacation is $5000, that should total $50K. If I had debt other than the house I would pay that off. At this point though we know we will need to replace my van within the next couple of years and we have nothing set aside for college yet, so those would be the priority.

[danimarie0820]

I made it low so we could be a little creative but I completely forgot about the taxes on the amount! opps!

[monkeywrangler71]

$50,000 isn't enough money to alter my lifestyle. I would just put it in my savings account.

[forHISglory]

We're debt free, so don't need it for that. And we're retired, but working part time. We enjoy the jobs. So we wouldn't quit. We have a pension and money in the bank. We could always beef up the savings, and probably should, but......

....but here's what my selfish self would do: We love to travel and had looked forward to lots of travel after we retired. Bah, humbug! Gas prices are keeping us stranded. So I would use some of that money to fuel up the truck, and Hubby and I would take off on another fun road trip. The only two states we haven't seen are Maine and Oregan, so I'd take road trips to those areas. Also would love to go to British Isles and Scandinavia, but don't know if the money would last that far.

Fun dream.......

[McD]

I'd pay down the small amounts of 'bad debt' we have, stick a substantial amount into retirement savings for hubby and I, stick some into a 529 for Wesley and take a trip.

[freebs]

Well since we dont have any debt or credit cards or anything like that i would pay the taxes then take a vacation, dh, i and the family havent never been on a vacation and my dd is almost 11 . then i would start a savings account!

[Michelle]

I would pay off Dave's car (~$8K), put 1/4 of the rest in our EF, then 1/2 of the rest in retirement savings, and take a much-needed vacation with any remaining money.

[nuisance26]

~If I got $50K free and clear(I'm pretending that it's after taxes)I'd first book a fantastic vacation for my DH and I. We haven't been anywhere together in a looooong time. I'm thinking Fiji. Then I'd beef up the kids' college accounts and spend the rest on home improvements. A kitchen remodel with appliances that are less than 15 years old would be super!~

[missyali]

Taxes, followed by $38k in debt. $2k left... needed furniture or a NEW FRIDGE! Yeah, a new fridge!

[lisettelovebug]

ok. if it were 50k free and clear this is what I would do:

1. Pay off all our credit card debt = about $3000
2. Pay off hospital bills and prepay deductible so i can get iud = about $1250
3. pay off van - about $14,000
4. Pay off my school loans = $18,000
5. The rest would go towards emergency fund ($13,750 this would cover 6 months of expenses if dh got laid off)

[janelane]

50k (after taxes please!) would pay off everything we owe, CCs, student loans, the car & business loan. Then what was left we'd put towards a new computer and professional video equipment to add to the business. This is what we're snowballing, it wouldn't really change anything, just speed up our goals (I'm so impatient, I dream about this somehow happening all at once.) 50k is certainly not enough to for job quitting, though.

[AmyBoz]

$50,000 wouldn't be enough for anyone around here to quit a job. That being said, here's what we'd do:

1)Pay off dh's truck.
2)Get the bathroom redone
3)Get the front window redone
4)Get the chimney fixed (changeover to gas)
5)Fix the roof
6)Put a nice chunk in savings
7)Put the rest toward the principal on the mortgage