What to do with $1000

**pyotr** · 06-08-2006, 07:55 PM

Re: What to do with $1000

Send it to my paypal account - my e-mail is in my profile. Thanks a bunch lou.

**autoxer** · 06-09-2006, 05:45 AM

Re: What to do with $1000

Originally posted by louthechris

So if you've got a thousand bucks lying around..... what would you do with it??

Set some goals, then it won't be just lying around. What do you want? a car, a house, an education, a retirement, less debt?

**slimcustomer** · 06-09-2006, 06:18 AM

Re: What to do with $1000

If I fit into the field of membership for this First Commonwealth FCU, I would put my money in one of their 10% cds.

**PrincessPerky** · 06-09-2006, 06:32 AM

Re: What to do with $1000

My oersonally I think I would put it in ING for my 'emergency fund'.

or if I was happy with that balance I would send it to the house, well maybe split it half for the house half for a future (bigger) car.

Hmm now that I am done being selfish it owuld be nice to send some to the church...

**Ima saver** · 06-09-2006, 07:08 AM

Re: What to do with $1000

I would pay down the principal on the land that I have a mortgage on!

**Broken Arrow** · 06-09-2006, 08:51 AM

Re: What to do with $1000

Originally posted by pyotr

Send it to my paypal account - my e-mail is in my profile. Thanks a bunch lou.

In case you missed it, that's "brokenarrow@paypal.com".

What?

Seriously, if we're talking about the first steps forward, and if I had credit card debt, I would pay that first. If I don't, I would use it to start up an emergency fund.

**abowers** · 06-09-2006, 10:06 AM

Re: What to do with $1000

I would pay down my worst CC debt, and put the rest in my ING account until closer to the end of my 0% 12 month period on my other CC, then pay that one off.

**msnln** · 06-09-2006, 11:44 PM

Re: What to do with $1000

Depends on your financial condition but with my first $1000, I bought a mutual fund. Granted this is going back some 17 years but that was the best decision I had made as that put me on the road to investments and that has paid many times over. I think there are a few mutual funds that still have $1,000 minimum and if you are young, you should go with midcap growth stock fund, or Russell 2000 Index Fund.

**TBH** · 06-16-2006, 10:52 AM

Re: What to do with $1000

I can't ever make myself put windfalls all in one place. I always split them up between retirement savings, long term savings, short term savings, college savings, and a little mad money to blow. That means even good-sized windfalls don't really have much of an impact in any one area, so it can be a little unsatisfying to spread it around like that, but I just have too many competing savings goals to put it all in one pot.

**Ima saver** · 06-16-2006, 01:32 PM

Re: What to do with $1000

You really should chose just one thing to use the money for. I bought a piece of property about a year and a half ago and financed it. My goal is to pay it off as soon as I can. I started off owing $64,000 and by putting all my extra money towards it, the balance is now below $30,000. I still have a long way to go but I have saved a ton in interest!

**asha** · 06-17-2006, 12:38 AM

Re: What to do with $1000

10% donate, 90% into the mortgage

**getforfree** · 06-24-2006, 09:02 PM

Re: What to do with $1000

Would I have to pay tax on it?

**boomeyers** · 06-25-2006, 11:34 AM

Re: What to do with $1000

Good question, getforfree! I would pay off some debt, go to dinner and put the rest in a EF.

**rob62521** · 06-25-2006, 12:27 PM

Re: What to do with $1000

Put in our Roth IRAs!

What to do with $1000