Debt.
Same that would pay off all my debt.
It would cover about 20% of mine
Out of curiosity, how low would that dollar amount have to be for you to opt to spend it on something else? Would it still go to debt if it was only 1,000 or something?
It’s probably highly specific to how much money somebody makes. If my monthly paycheck is $2000, and you give me $1000, I would use that to get ahead by a half a month. If I make $10k a month and you give me $1000, getting ahead by a tenth of a month won’t do much. So hookers and blow all day.
I think 1000 or 2000 for me. I know it’s optimal to put it on my mortgage but that’s an amount I would use the excuse of “having to spend it” to spend it on myself. 20k in cleared debt is like 1.4k yearly expense reduced which really moves the needle. If you pay off 1k a month you’re effectively increasing the payoff rate by 12%.
Like 15 abortions. God I love abortions.
I do not understand that, in my country abortions are free
(ok, not actually free. You need to pay 15 euro for the blood test, a 30 euro tax, 2 euro for the hospital parking fee and around 10 euro to buy the painkiller or antibiotics after the operation)
Dude, I wish I lived in a civilized country. My cancer treatment would have cost somewhere in the range of $5 million without insurance. Healthcare is a human right
Dude, I just got the post-exposure rabies vaccine. Was four trips to the ER at $125 USD co-pay a pop… however, without insurance, I learned it can be as much as like $15k if you don’t qualify for assistance and/or Medicaid.
We really need to take to the streets.
oooOOohh look at mr big spender here with their fancy thousand dollar abortions.
Would make the world a better place than any other kind of charity, tbh.
I’ll buy $20,000 of gold. :3
i ran the numbers, and i was surprised to find that $20K would get you about 5 gold coins.
How big are the coins?
*Diameter:1.287 inches (32.70 mm) for 1 ounce coin which is a little less than $5k
You can add value by minting them with a Labubu relief.
What if I just melted them into some dubai chocolate and ate it instead? /s
Totally could, but you’d basically just be throwing it in the trash. Big sad, much depress.
Hammering it into gold leaf and covering cheap chocolate bars with it and you could probably at least double your money.
.2 oz troy of gold makes just over a half square meter.
about 24 loonies if you know what a Canadian dollar coin looks like.
otherwise, it’s about 18 us dollar coins.
can I just throw it on my mortgage?
Seriously this. Like imagine taking a chunk out of principal like that, you would save thousands in interest!!!
I actually did do that, the advantage of having rich grandparents. It’s amazing how once you get a bit of money the system just throws advantages at you. Capitalism really is broken.
Because I was able to get together enough money to be able to buy a house and put down quite a lot in collateral, my mortgage repayments aren’t very much, considerably less than I was paying monthly in rent, even when you take into account that the rent included water bills.
Technically you’re using it to buy a house, so I guess that qualifies as spending it?
Put it on my mortgage.
Two chicks at the same time
No, I don’t think they are
In this economy?
Especially in this economy.
Fuckin A, man.
Laser hair removal, car, estrogen
Which one?
I think I could fit them all in if the car is cheap
Putting it toward my mortgage payment.
Does the government know I have it? Because it will cut off my disability, my medical, food stamps, and I’ll loose the ability too live anymore.
But of course I would spend it on basic necessities if the government won’t know about it, stock pile of non perishable foods, toilet paper, fixing the broken shit around my place (as much as my landlord allows) maybe a new bed that’s not 10 years old.
It’s not real that much but it would help my quality of life for a bit longer I guess
Shares.
Better answer than “debt” unless that debt is at a high interest rate.
Don’t discount paying off a modest 6-7% car or student loan. That’s a guaranteed and tax free return on investment. Historically the stock market returns about a 7% annual ROI. Not having a payment every month can make a big difference for liquidity and peace of mind
I would count that as “high,” especially when, as you suggest, you consider risk-adjusted rates.
Basically, just don’t prematurely pay off your mortgage if you have one of those 3% ones from a decade ago.
I’ve learned reading these comments that way too many people don’t know just how little 20k is.
I could spend 20k in one cart full of items at my local computer store.
It’s not much money, but in Russia I could live decently for ~3.5 years with that kind of money. :)
Shit I don’t think you realize how little $20,000 really is. Hell there’s very few new cars that even cost 20 grand. I could have it gone in less than 5 minutes.
Index fund. Duh.
That’s not really spending since you can just withdraw it.
20k is one medium home remodel (one deck, Hall bath, or painting the outside), half the price of my sisters powerchair, or paying down half remaining on my car
There is no reason for a powered wheelchair to cost as much as an expensive car
edit: i realize you probably weren’t judging, my bad for the attack dog
i mean… there is when she is completely non ambulatory, needs a specialized back to support her upright, requires tilt relieve pressure point throughout the day, and has large tires so she can go outside in the dirt without getting whiplash from the bumps. A privilege, sure, but I think its well deserved
without specializations it could probably run at 12k, and insurance wont pick up anything above basic
There’s no GOOD reason an MRI should cost $1500 either.
My daughter says pokemon cards
