Free £10,000.. what would you do with it?

[slinxy]

No, I didn't get £10,000 and no I'm not going to give you £10,000..

but I was watching an interview with Rory Stewart (former tory MP) on how they just gave some people in a villages from a developing country $700 each and when they came back a year later the whole village was transformed, they had running water, a sewage system and cows to farm the land/milk.. etc...

Guessing that $700 wouldn't change most people's lives much here, but if some well meaning, funny talking toff was to give you £10,000.. what would you do with it?

 

[slinxy]

I'd love to blow it on a watch But I wouldn't be able to justify it

This is what I kinda did in the past... my mom lent me 5k for some of my house down payment. When I went to return it a few years later, she said she didn't want it back, so I popped the cash into an ISA and brought a Planet Ocean on interest free credit. I thought it was right as it gives me someone to remember my mum by, I have the cash in an account gaining interest in case I need to get rid of the debit and in theory; the watch has gain in vaule as it RRPs for a lot more than I got it for when considering the discount I got on the watch and inflation.

 

[slinxy]

take it to las Vegas and double it

I like your thinking... If I ever had **** you cash, I would take a brief case with 1 million pounds to vegas, leave the cards and everything else at home expect the return airplane ticket and blow the whole lot... I'll probably end up selling the place ticket and end up trapped and homeless in Vegas without a means of getting home.. lol..

 

[slinxy]

Imagine how cool it'd be though if tomorrow every household mortgage was instantly paid off I mean it's got to be the biggest drain of "the everyday person's" finances so imagine everyone suddenly having all that monthly mortgage payment available to save/spend instead, that doesn't sound boring to me

I think the banks would go into a panic from the lack of income from the interest and internal lending between banks.. and the government would go into panic from the reduction in taxes… imagine everyone reducing their taxable income by 1k (their mortgage payment) and sticking it in their pension instead.

 

[slinxy]

10k is too low to do anything useful in the western world. …

I don’t think 10k is too low, offering someone 100k or a million as a life changing amount is far too easy.

10k takes imagination, creativity and some thinking about.

someone could use it to replace an old beat up car that’s on life support with a newer more reliable one.

It could be a year’s tutorial fee or a few professional courses/certifications.

The dream holiday that they haven’t had the chance to take.

Help start a small business..

I think most people are thinking about their mortgage as it’s currently headline news.. and in fairness for me it’s either that or into the stock market on a tracker.

10k off people’s mortgages and allowing them to pay off a 5 year mortgage in 4 years at 4% is effectively £11,735.01.