Comments on: Tell Us Tuesday: Sudden Windfalls http://almostfrugal.com/2009/04/28/tell-us-tuesday-sudden-windfalls/ Learning about frugality Fri, 30 Jul 2010 17:23:12 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Rini http://almostfrugal.com/2009/04/28/tell-us-tuesday-sudden-windfalls/comment-page-1/#comment-4596 Rini Fri, 01 May 2009 01:29:01 +0000 http://almostfrugal.com/?p=2989#comment-4596 How much would it take? I have three "dream windfall" levels: $15,626 - we're done with credit cards $86,400 - we're 100% debt-free $171,400 - we're 100% financially stable (and I can quit my job!) But since I have no windfalls coming, I'll be celebrating in 2010, 2012, and 2014, as our snowball rolls its own windfall. ;) How much would it take? I have three “dream windfall” levels:

$15,626 – we’re done with credit cards
$86,400 – we’re 100% debt-free
$171,400 – we’re 100% financially stable (and I can quit my job!)

But since I have no windfalls coming, I’ll be celebrating in 2010, 2012, and 2014, as our snowball rolls its own windfall. ;)

]]> By: rachella http://almostfrugal.com/2009/04/28/tell-us-tuesday-sudden-windfalls/comment-page-1/#comment-4590 rachella Wed, 29 Apr 2009 21:08:33 +0000 http://almostfrugal.com/?p=2989#comment-4590 I received a windfall, though it wasn't sudden. I moved to England and put a down payment on a house in London. Now I'm in the same position as all the other posters who say they would pay down their mortgage. First, though, I'd get new linoleum in the kitchen and buy an eglu. <abbr><em>rachella´s last blog post..<a href="http://anditfeelslikehome.blogspot.com/2009/04/o-is-for-old-bailey-abc-wednesday.html" rel="nofollow"></a></abbr></em> I received a windfall, though it wasn’t sudden. I moved to England and put a down payment on a house in London. Now I’m in the same position as all the other posters who say they would pay down their mortgage. First, though, I’d get new linoleum in the kitchen and buy an eglu.

rachella´s last blog post..

]]> By: fairydust http://almostfrugal.com/2009/04/28/tell-us-tuesday-sudden-windfalls/comment-page-1/#comment-4588 fairydust Wed, 29 Apr 2009 19:15:35 +0000 http://almostfrugal.com/?p=2989#comment-4588 We aren't carrying any debt, but we also don't end up with enough income to be able to "do" much extra, so if we found ourselves with a windfall, I would vote for a nice, long European vacation OR buying a little cabin in the middle of nowhere that we could retreat to whenever. I'd also beef up our son's 529 so he can consider grad school without needing a TAship or to go into debt for it. <abbr><em>fairydust´s last blog post..<a href="http://ifartfairydust.blogspot.com/2009/04/down-stretch-to-friday.html" rel="nofollow">Down the Stretch to Friday</a></abbr></em> We aren’t carrying any debt, but we also don’t end up with enough income to be able to “do” much extra, so if we found ourselves with a windfall, I would vote for a nice, long European vacation OR buying a little cabin in the middle of nowhere that we could retreat to whenever. I’d also beef up our son’s 529 so he can consider grad school without needing a TAship or to go into debt for it.

fairydust´s last blog post..Down the Stretch to Friday

]]> By: Billie http://almostfrugal.com/2009/04/28/tell-us-tuesday-sudden-windfalls/comment-page-1/#comment-4586 Billie Wed, 29 Apr 2009 15:20:43 +0000 http://almostfrugal.com/?p=2989#comment-4586 A lump sum of 25k would pay off our car loans. I would like to use a lump sum of 62k or above to pay down our mortgage and leave the car loans as is. This would bring us back to having 20% equity and we could refinance. I would like to refinance with the goal to bringing the monthly cost of the house down to the cost of renting it out. This would allow us to save for a bigger home and then rent the current place out when we finally buy. Then we could sell the house at our convenience when the prices go back up rather than selling it now at a substantial loss. Aren't I so very practical *sigh* <abbr><em>Billie´s last blog post..<a href="http://billieryder.spaces.live.com/Blog/cns!1439577BE90BE66D!1980.entry" rel="nofollow">The seventh ring of ....</a></abbr></em> A lump sum of 25k would pay off our car loans.

I would like to use a lump sum of 62k or above to pay down our mortgage and leave the car loans as is. This would bring us back to having 20% equity and we could refinance. I would like to refinance with the goal to bringing the monthly cost of the house down to the cost of renting it out. This would allow us to save for a bigger home and then rent the current place out when we finally buy. Then we could sell the house at our convenience when the prices go back up rather than selling it now at a substantial loss.

Aren’t I so very practical *sigh*

Billie´s last blog post..The seventh ring of ….

]]> By: Julie http://almostfrugal.com/2009/04/28/tell-us-tuesday-sudden-windfalls/comment-page-1/#comment-4577 Julie Wed, 29 Apr 2009 03:25:22 +0000 http://almostfrugal.com/?p=2989#comment-4577 A lump sum would likely go to either paying off our car or my student loans which are substantial. Any dent would be good though! <abbr><em>Julie´s last blog post..<a href="http://culturesforhealth.com/blog/?p=130" rel="nofollow">Traditional Buttermilk vs. Cultured Buttermilk</a></abbr></em> A lump sum would likely go to either paying off our car or my student loans which are substantial. Any dent would be good though!

Julie´s last blog post..Traditional Buttermilk vs. Cultured Buttermilk

]]> By: Jennifer http://almostfrugal.com/2009/04/28/tell-us-tuesday-sudden-windfalls/comment-page-1/#comment-4575 Jennifer Wed, 29 Apr 2009 02:17:03 +0000 http://almostfrugal.com/?p=2989#comment-4575 A lump sum would be great! We are actually expecting a couple of lumps sums: a $7,000 comission check from my husband's job this month, and an $8,000 tax refund. So, while $15,000 is a lot of money to my family, it is just going to push us along in our financial journey a bit. Since we are debt free except for the house (as of our refinance today!) this $15,000 will be added to our Emergency Fund bringing it to $17,500. I have a big security gland so I would really like a $30,000 emergency fund. So, at this point I feel that another $15,000 would just get us to where I think we should be. A lump sum bigger than $15,000 might allow us to do something just for fun. :) <abbr><em>Jennifer´s last blog post..<a href="http://www.etsy.com/view_listing.php?listing_id=24294578" rel="nofollow">Buy 2 Get 1 Free - RAINBOW PEACE - Scrabble Pendant</a></abbr></em> A lump sum would be great! We are actually expecting a couple of lumps sums: a $7,000 comission check from my husband’s job this month, and an $8,000 tax refund. So, while $15,000 is a lot of money to my family, it is just going to push us along in our financial journey a bit.

Since we are debt free except for the house (as of our refinance today!) this $15,000 will be added to our Emergency Fund bringing it to $17,500. I have a big security gland so I would really like a $30,000 emergency fund.

So, at this point I feel that another $15,000 would just get us to where I think we should be. A lump sum bigger than $15,000 might allow us to do something just for fun. :)

Jennifer´s last blog post..Buy 2 Get 1 Free – RAINBOW PEACE – Scrabble Pendant

]]> By: LJ http://almostfrugal.com/2009/04/28/tell-us-tuesday-sudden-windfalls/comment-page-1/#comment-4574 LJ Tue, 28 Apr 2009 20:39:53 +0000 http://almostfrugal.com/?p=2989#comment-4574 What an interesting question! It really made me think. A vacation sounds nice, but I'm not all that adventurous. I've very blessed, and I have absolutely no debt, and I was just offered a job. That job seems like a windfall to me right now, as my living expenses are very minimal. However, if I did get a windfall, maybe I'd buy a house. It would be fun to have a yard/garden, but I'd want to have enough money tucked away for repairs - and enough for someone else to do them! What an interesting question! It really made me think. A vacation sounds nice, but I’m not all that adventurous. I’ve very blessed, and I have absolutely no debt, and I was just offered a job. That job seems like a windfall to me right now, as my living expenses are very minimal. However, if I did get a windfall, maybe I’d buy a house. It would be fun to have a yard/garden, but I’d want to have enough money tucked away for repairs – and enough for someone else to do them!

]]> By: Denise http://almostfrugal.com/2009/04/28/tell-us-tuesday-sudden-windfalls/comment-page-1/#comment-4573 Denise Tue, 28 Apr 2009 15:49:41 +0000 http://almostfrugal.com/?p=2989#comment-4573 I am not sure how much of a windfall I'd want to get, though if it were enough I'd...: -Put money in the bank -Open accounts for both my kids -Give money to my parents to pay off their house/car/savings -Give money to my brother/family -Give money to my sister/family -Give money to my FIL/MIL (Stepmother-in-law) -Give money to my FIL/MIL (Stepfather-in-law) -Purchase a new sofa, a big comfy sectional with a chaise at the end -Get new slipcovers for our existing couch/chair and let the kids have both pieces in their playroom. -Having said this if I managed to do all of this AND have money left over, I'd love to go with my husband and kids to Hawaii. My husband proposed to me there in Feb. 04 and it was ABSOLUTELY STUNNING!!! :) I am not sure how much of a windfall I’d want to get, though if it were enough I’d…:
-Put money in the bank
-Open accounts for both my kids
-Give money to my parents to pay off their house/car/savings
-Give money to my brother/family
-Give money to my sister/family
-Give money to my FIL/MIL (Stepmother-in-law)
-Give money to my FIL/MIL (Stepfather-in-law)
-Purchase a new sofa, a big comfy sectional with a chaise at the end
-Get new slipcovers for our existing couch/chair and let the kids have both pieces in their playroom.
-Having said this if I managed to do all of this AND have money left over, I’d love to go with my husband and kids to Hawaii. My husband proposed to me there in Feb. 04 and it was ABSOLUTELY STUNNING!!! :)

]]> By: CdnStealthGirl http://almostfrugal.com/2009/04/28/tell-us-tuesday-sudden-windfalls/comment-page-1/#comment-4572 CdnStealthGirl Tue, 28 Apr 2009 15:12:49 +0000 http://almostfrugal.com/?p=2989#comment-4572 If we had a sudden, surprising windfall, there are a few priorities I'd like to think we would use it for (paying off the line of credit, increasing the emergency fund), but I think a small portion (think under $1000) for a few fun things. That might be some toys or an experience. If we had a sudden, surprising windfall, there are a few priorities I’d like to think we would use it for (paying off the line of credit, increasing the emergency fund), but I think a small portion (think under $1000) for a few fun things. That might be some toys or an experience.

]]> By: Kika http://almostfrugal.com/2009/04/28/tell-us-tuesday-sudden-windfalls/comment-page-1/#comment-4571 Kika Tue, 28 Apr 2009 14:56:20 +0000 http://almostfrugal.com/?p=2989#comment-4571 If the windfall was big enough, I think I'd be tempted to use a good chunk for an overseas family vacation (which we've never had); the rest could go to paying down our mortgage or increasing our emergency fund. If the windfall was big enough, I think I’d be tempted to use a good chunk for an overseas family vacation (which we’ve never had); the rest could go to paying down our mortgage or increasing our emergency fund.

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