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You just inherited $10,000. What do you do??


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Answers (16)

Earlier this year I inherited $80K and after paying bills and stuff I’m just letting it sit in the bank gathering interest

 Pretty soon the bank will be charging you interest to let you place it there, if we get another rate cut or two we will be into negative interest territory.

helpful (1) 

Study something I always wanted to study....Throw the money at a little business idea or something you take pleasure artistically. Or I would do something to honour the person that gave me the inheritance....

I would fly my children, husband and self to Switzerland to we could all be together, holding each other, when I depart this Earth.

helpful (0) 

I inherited 70k a few years ago and I still have a bit left. It really helped at the time but every time I spent money, I remembered why I came to get it in the first place 😢

 Yes this is how I felt with my inheritance too. Felt like I was spending money not mine
helpful (2) 

You make 10k sound like a lot of money. Chicken feed really. Pay off any debt and save the rest of pay it off your home loan

 My chickens would eat well off 10k
helpful (1) 
 I agree - it's really not that much money.
helpful (1) 

Leave $5000 in bank
Use the other $5000 to pay bills and get in front, maybe a cheap caravan holiday or something as well.

Pay bills, buy some new clothes and put the rest away for a rainy day

10k is not a lot of money. Not life changing at all. But it might be for someone really struggling?
I would pretty much pay off a chunk of my mortgage with it.

 For a single mum living paycheck to paycheck it could mean a lot
helpful (1) 
 I agree with both. It's not a lot but could help a lot.
helpful (1) 

10k would change my life atm. I have been trying to save to move for a long time, important things keep coming up that require money?!?