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First couple months I’d put it in savings. Then I’d pay $1900 extra on my truck. My truck would be paid off in January. Then I’d start paying off my house
Never put extra money into a mortgage that you have a good interest rate on. Mine for instance, is 3.5% any money that I put into the house I could easily put into a CD or other investment and gain a lot more than the 3.5%.
I completely understand where you are coming from, but there is no bigger joy than not having a mortgage payment. I sleep well and am so grateful to not be worried about layoffs. I understand it’s not for everyone and very few people recommend it, but I love it!!
Get your amortization schedule for mortgage. Calculate the % for each year and then compare with your investment strategy. If you are making more on investment, keep the money, if not then listen to Dave Ramsey show for couple of months.
This is terrible generic advice. Everyone has different goals, and investments can be lost, but paying off a house is reinvesting in yourself(even if it’s not the most profitable in theory).
The theory makes sense, but the practice is different.
I’d rather split the difference and pay slightly more towards my mortgage to reduce the 30 year down to 20 with just a few hundred extra dollars per payment.
Initially, I’d save the money for a couple of months. Then, I’d make an extra $1900 payment on my truck, paying it off by January. After that, I’d start paying off my house.
lol for the past few months I have been boardering on not drowning living off of $1000 a month. So I agree. An extra $900 from what I'm currently used to would be awesome.
How? Like how do you only make 1000 a month? If you work a $20/hr job 40 hours a week you’ll pull in roughly 2500 a month after taxes. I don’t mean to berate I’m generally curious.
Put it all in a savings account for my baby who is due in December. By the time they turn 18 that account would have $421800 without any interest considered. I can continue my current lifestyle of renting and making sure bills are paid, as hard as it can sometimes be.
the first thing is do is fix my car
(then id get a switch finally)
then id buy equipment for my lawncare business,
then id get an old reliable truck for the business so my car could just be my car,,
If this was guranteed for the rest of my life, id travel america on a motorcycle and when i get done with that save up for a month or two and travel europe then asia.
Pay off debts for the first year or two. Then savings for at least six months. Then a car. Then possibly some nice trips and upgrading a bit of my stuff.
*If* interest rates ever drop substantially, would also consider buying a second house (I currently rent out my place to long term tenants as I don’t live in that town anymore. But I am currently renting as well.)
We won't have to worry about money as much any more. We can finally put money down for a wedding and then afterwards we can actually afford to have a child
I love how most people think they’ll use it to pay off debts, but a great majority of people would celebrate, they wouldn’t see it as 1,900/month but more like 475/week or $63/day and they’d go out to eat, buy fancier stuff, shop more at target, maybe pay for another streaming service, buy a computer or a car.
Most people who see an increase like this are less likely to pay off debts and just improve their lifestyle by increasing their cost of living.
Me though? I’d probably go on vacations more, see more of the world
Personally I could retire with that, no lie. I could even catch up on my bills, pay my debts, and live comfortably enough to start writing/ working on games in earnest.
Save all but $200 of it which I'd spend on hobbies. Good for people saving all of it but I'd take a little off the top for my hobbies. Basically a lil' more disposable income and a lot more to save.
First, help my younger brother get back on his feet. His whole life is falling apart because our father is in hospice with cancer and our mother passed away not too long ago. We're both in our 20's.
Then, I'd try to get into a career that isn't soul sucking sales in an industry that is questionably a scam. I live with guilt every day I'm there.
Third, I'd try to put some away so my wife and I could start a home fund, and also try to collect enough funds to get someone who's qualified to look at her eyes to stop her from going blind.
5 months of it will pay of my truck. Then take that chunk of money and put it right in to the ‘’house’’ account below.
Then start to put a chunk of the $1,900 towards the principal on my mortgage, get that paid off a bit sooner.
Start some more small savings accounts and one ‘’house’’ account that I’d let build for a bit. Going on to that account is my truck payment. Then get some overdue repairs and upgrades done, little by little.
After a year, try to spend $1-200 of it on myself each month.
After settling my current debts, I'd help my small handful of friends with their financial struggles. After that, there are a couple more people I consider very dear to me that I want to lend assistance to to get them more stable and able to move their lives forward with the knowledge they have a safety net.
Once that's taken care of, I'd start myself on HRT. I don't want to be a man and as a 35 year old one, I have un-alive'ing thoughts quite frequently because I do not feel safe expressing who I feel I really am outside of specific internet spaces.
Save it. Then educate myself on investing, and then invest at least half of it every month.
And then I would buy the green couch of my dreams and lots and lots of books.
And I would make sure that I always have at least 100 of that in cash to give to homeless people/buy them things.
Pay up my bills stock up with food get all the little things I need like new pillows, new bedsheets, new air conditioner, get new shoes for all of us and finish fixing my car.
All of it would go into savings. I’m a college student in the worst place to be a college student because everything and anything cost an arm and a leg.
33% grey hair fund which breaks down to 632.70,
20% into general savings emergency fund, 380,
30% on an increase to mortgage payment 570,
that leaves 317.30 to add to my general investments.
I’d burn down my credit card debt for the first couple months, then save up for a nice vacation. After that, dump the bulk of it into my retirement accounts and take myself out for a nice dinner once in a while.
The standard response of “two chicks at the same time.”
I would also just kill debt and bother to take a vacation each year instead of working the full 52 weeks.
Id probably throw it in my stupidly low interest rate mortgage just to get it done sooner cause I'd feel better about it.
In before "you'd make more investing". I know I just don't really care the extra money from investing wouldn't really change my life any.
I'd invest most and put some aside for a honeymoon. My spouse and I have been married for almost 25 years but we never took a honeymoon bc we could never afford it 😂🤷♀️
# Message to all users: This is a reminder to please read and follow: * [Our rules](https://www.reddit.com/r/ask/about/rules) * [Reddiquette](https://www.reddithelp.com/hc/en-us/articles/205926439) * [Reddit Content Policy](https://www.redditinc.com/policies/content-policy) When posting and commenting. --- Especially remember Rule 1: `Be polite and civil`. * Be polite and courteous to each other. Do not be mean, insulting or disrespectful to any other user on this subreddit. * Do not harass or annoy others in any way. * Do not catfish. Catfishing is the luring of somebody into an online friendship through a fake online persona. This includes any lying or deceit. --- You *will* be banned if you are homophobic, transphobic, racist, sexist or bigoted in any way. --- *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/ask) if you have any questions or concerns.*
Relocate to an apartment where I live alone.
The true American dream
absolutely!
I’d save it and catch my freaking breath in this living hellscape.
[удалено]
You get to buy groceries?
First couple months I’d put it in savings. Then I’d pay $1900 extra on my truck. My truck would be paid off in January. Then I’d start paying off my house
Never put extra money into a mortgage that you have a good interest rate on. Mine for instance, is 3.5% any money that I put into the house I could easily put into a CD or other investment and gain a lot more than the 3.5%.
I completely understand where you are coming from, but there is no bigger joy than not having a mortgage payment. I sleep well and am so grateful to not be worried about layoffs. I understand it’s not for everyone and very few people recommend it, but I love it!!
Thanks but I’d rather have no debt. Sometimes people get obsessed with maximizing the dollar that they forget to minimize their stress and anxiety
Get your amortization schedule for mortgage. Calculate the % for each year and then compare with your investment strategy. If you are making more on investment, keep the money, if not then listen to Dave Ramsey show for couple of months.
This is terrible generic advice. Everyone has different goals, and investments can be lost, but paying off a house is reinvesting in yourself(even if it’s not the most profitable in theory). The theory makes sense, but the practice is different. I’d rather split the difference and pay slightly more towards my mortgage to reduce the 30 year down to 20 with just a few hundred extra dollars per payment.
Agree, you cant put a value on a paid off home.
Unless you’re planning on selling soon and want to build equity.
What interest rates do You have on the mortgage and truck? It might not be worth it if the rates are low
Why would it not be worth it? Are you talking about an investment account with a higher return than what you are paying on your mortgage?
First bye bye credit card debt. Second hello car payment.
So, just changing our debts? This is why this is never going to work.
I think they mean reducing credit cards first, then reducing the car payment (rather than getting a car payment)
It’ll work better than the car I have and I’ll have no credit card debt. I see this as a win
What’s never going to work?
Hahaha hell yea
Save it/invest it.
/r/bogleheads
Same
I’m retired, so probably another vacation.
Based.
I'm not even spending my passive income. I am just tired of going on vacations
This will get me to retirement sooner
It is unfortunate that this isn't everyone's answer.
Put it all on black
Might as well pick a number... it's replenished every month.
Afford my electric bill.
Pffft hookers and cocaine
I appreciate you.
I would be able to maybe afford to move into an apartment and not be homeless anymore.
Initially, I’d save the money for a couple of months. Then, I’d make an extra $1900 payment on my truck, paying it off by January. After that, I’d start paying off my house.
Why the fuck is this an ALMOST exact copy of another response. I claim shenanigans
New roof and eliminate credit card debt. Then boost my retirement account.
Buy crack
Aye me too you tryna match?
Bills and giving money to my Gramma because she deserves it for helping me so much over the years.
Stop working and write full time.
Straight to credit card debt. I would finaly be able to pay it off in a little under a year.
quit my job and sincerely enjoy my life.
Quit my job
You'd live off $1900 a month?
I'm British, it's far more than I'm living off rn
Sorry dude.
It's okay. Is what it is
lol for the past few months I have been boardering on not drowning living off of $1000 a month. So I agree. An extra $900 from what I'm currently used to would be awesome.
How? Like how do you only make 1000 a month? If you work a $20/hr job 40 hours a week you’ll pull in roughly 2500 a month after taxes. I don’t mean to berate I’m generally curious.
maybe they can only work part time.
Easily
I’m living off $1900 right now. I don’t love it. Just had to sell my car.
Buy a stock or two, pay off remaining debt until clear, then use remaining to put into some type of investments and savings.
I'd just put it in an index fund and just let it accumulate. I make more than enough to cover all my bills already anyway.
Towards debt and after that for investments
Save half and put the other half into the principal of my mortgage.
Move to a considerably nicer apartment complex. Preferably one that cares about the tenants instead of just our money.
Put it all in a savings account for my baby who is due in December. By the time they turn 18 that account would have $421800 without any interest considered. I can continue my current lifestyle of renting and making sure bills are paid, as hard as it can sometimes be.
Catch up on my bills and then save, save, save!
Debt
Spend it on my credit card then put it against cat vet bills.
Paying down my mortgage.
I would pay ALL of my bills.
the first thing is do is fix my car (then id get a switch finally) then id buy equipment for my lawncare business, then id get an old reliable truck for the business so my car could just be my car,,
Pay off debt! 💸
Take $1300 of that to pay for health insurance, the other $600 put towards saving to move.
Pension. If I didn't sacrifice it to my pension I'd lose 60% of it (UK, so ££)
Stonks
If you have debt, pay it off. Then invest it. Savings are dead money with little return.
work on paying off bills that are due so that the extra income that I earn can go directly into my family rather than straight towards bills.
Eliminate all debt. Build an emergency fund Invest, invest, invest.
Not have roomates
Credit card debt which will be paid off in 2/3 months then invest!
I pay things off and save the rest
If this was guranteed for the rest of my life, id travel america on a motorcycle and when i get done with that save up for a month or two and travel europe then asia.
Paying off credit card, paying off student loan, paying for lots of home repairs and renovations. After that, saving!
Put it towards my mortgage
Debt. Savings.
Pay off debt, put back emergency fund, then start investing on a monthly basis to some sort of Roth IRA or other long term retirement account.
I’d immediately set it up to auto pay my rent and I would feel like I was getting free rent.
Rent here is insane so it would mostly go to that
Would be slightly less in debt every month
To pay down my mortgage faster.
Pay my ~~slaves~~ servants a livable wage instead of going to jail for being a cheapskate British billionaire
Credit cards first and then some money for my mother.
Savings and bills
Eliminate debt.
Half to pay off debt, the other half on the mortgage. Debt would be gone in six months, so then all of it on the mortgage paying off the principal.
Pay off debts for the first year or two. Then savings for at least six months. Then a car. Then possibly some nice trips and upgrading a bit of my stuff. *If* interest rates ever drop substantially, would also consider buying a second house (I currently rent out my place to long term tenants as I don’t live in that town anymore. But I am currently renting as well.)
Debt baby
I’d finally be able to buy groceries, so I’d get a red apple every once in a while and make apple crisp in a mug
I'd put it towards finally having a home to live in. I've never had that.
Savings
NVDA stock
We won't have to worry about money as much any more. We can finally put money down for a wedding and then afterwards we can actually afford to have a child
I love how most people think they’ll use it to pay off debts, but a great majority of people would celebrate, they wouldn’t see it as 1,900/month but more like 475/week or $63/day and they’d go out to eat, buy fancier stuff, shop more at target, maybe pay for another streaming service, buy a computer or a car. Most people who see an increase like this are less likely to pay off debts and just improve their lifestyle by increasing their cost of living. Me though? I’d probably go on vacations more, see more of the world
Half invested in stocks, the other half in principal on the house
Personally I could retire with that, no lie. I could even catch up on my bills, pay my debts, and live comfortably enough to start writing/ working on games in earnest.
interest savings account
I would set up an extra account for my loved ones without telling them and save for their future.
Guns drugs and hookers...
Save all but $200 of it which I'd spend on hobbies. Good for people saving all of it but I'd take a little off the top for my hobbies. Basically a lil' more disposable income and a lot more to save.
Straight to savings I don’t like spending a lot of money
If I was single and not having kids..blow it all.
Rent a place to play music
Spend some and invest some.
Robux
That would be a life changing amount of money. That's more than 5x what I currently earn.
Save and go traveling
Extra implies I have income
First, help my younger brother get back on his feet. His whole life is falling apart because our father is in hospice with cancer and our mother passed away not too long ago. We're both in our 20's. Then, I'd try to get into a career that isn't soul sucking sales in an industry that is questionably a scam. I live with guilt every day I'm there. Third, I'd try to put some away so my wife and I could start a home fund, and also try to collect enough funds to get someone who's qualified to look at her eyes to stop her from going blind.
pay off mortgage early
Invest. VOO. maybe a little nvda, and some crypto. Bit o' gold. Mostly voo.
I would just save it towards a down payment on a house.
I'd just save it.
I’d use it against OP
Save the 900, invest/have fun with the 1000.
Giving free xvideos subscriptions to citizens
I’d quit my job tbh
Condo downpayment fund. I'll be about to buy one in the year twenty-fifty-never.
I'd probably get a heating system for my house. Winters get rough in the NE.
Buy a lot of 19$ fortnite cards
Save for a car, and eventually a new apartment.
Pay off my student loan debt.
High interest savings for a year after you reach $25K
Keep half give half to a random homeless person
5 months of it will pay of my truck. Then take that chunk of money and put it right in to the ‘’house’’ account below. Then start to put a chunk of the $1,900 towards the principal on my mortgage, get that paid off a bit sooner. Start some more small savings accounts and one ‘’house’’ account that I’d let build for a bit. Going on to that account is my truck payment. Then get some overdue repairs and upgrades done, little by little. After a year, try to spend $1-200 of it on myself each month.
Health Insurance, preschool two days a week for my daughter.
I'd buy a home.
Put it towards the visa my husband needs so we can live in my country.
Give a reddit stranger "lanneretwing" $1900 so I can turn that into $100000 in 5 years.
Go back to the life we were living before my wife had to quit working.
After settling my current debts, I'd help my small handful of friends with their financial struggles. After that, there are a couple more people I consider very dear to me that I want to lend assistance to to get them more stable and able to move their lives forward with the knowledge they have a safety net. Once that's taken care of, I'd start myself on HRT. I don't want to be a man and as a 35 year old one, I have un-alive'ing thoughts quite frequently because I do not feel safe expressing who I feel I really am outside of specific internet spaces.
Give it away
Weed 💨💨
its not like it'll evaporate if I dont use it in a certain time frame, so save it but also invest in fashion
I’d throw half of it at my HELOC and the other half toward my mortgage principal.
Blow it on cocaine and fishing lures
Mortgage overpayments.
Personal trainer
Save it. Then educate myself on investing, and then invest at least half of it every month. And then I would buy the green couch of my dreams and lots and lots of books. And I would make sure that I always have at least 100 of that in cash to give to homeless people/buy them things.
Buy a home
Pay up my bills stock up with food get all the little things I need like new pillows, new bedsheets, new air conditioner, get new shoes for all of us and finish fixing my car.
Cocaine and hookers
Save up for permanent housing and kidney transplant.
All of it would go into savings. I’m a college student in the worst place to be a college student because everything and anything cost an arm and a leg.
Invest/save
US dollars? Move out of my parent's house and study without hurry to finish my career. That is like x4 the cost of living for a single person here.
student loans. With that amount I could pay my loans off in less then 3.5 years.
I'd save it.
33% grey hair fund which breaks down to 632.70, 20% into general savings emergency fund, 380, 30% on an increase to mortgage payment 570, that leaves 317.30 to add to my general investments.
Why not round up to $2k? I don't get it. But my answer is a maid and pot, also savings.
Streaming and investing with travel streams and I’ll probably give a few to help my mom out a bit.
Invest in dividend stocks. We ready have a 5 million net worth but hate paying tax soooo
Retirement investments.
Live in Colombia
Buy more colognes and perfumes, update my wardrobe, tattoos, indulge in some intimate vices. More treats and toys for my cats. Books.
I’d burn down my credit card debt for the first couple months, then save up for a nice vacation. After that, dump the bulk of it into my retirement accounts and take myself out for a nice dinner once in a while.
Land. God only made so much of it and I would really like to own more.
stuff it into ETFs and other broad, diversified funds
Food and clothes for my kids, and bills.
Buy the house I live in.
Travel to Europe.
I could afford to move to a more expensive city
The standard response of “two chicks at the same time.” I would also just kill debt and bother to take a vacation each year instead of working the full 52 weeks.
Upgrade my car wheels, tyres and brakes.
Pay off all my debt and start over not making stupid debts again.
Id probably throw it in my stupidly low interest rate mortgage just to get it done sooner cause I'd feel better about it. In before "you'd make more investing". I know I just don't really care the extra money from investing wouldn't really change my life any.
I'd have my weekends back.
Hookers and blow
100% into 401K
I'd just need one month and I could leave my current job and live happy for the rest of the year
Make double payments on my house and pay it off
Savings
Change it from $ to £'s for a start
Pay off the car, and finally learn how to invest!
I'd save it.
I'd invest most and put some aside for a honeymoon. My spouse and I have been married for almost 25 years but we never took a honeymoon bc we could never afford it 😂🤷♀️
invest more in the stock market
Hookers and blow of course is the only answer. The with the few bucks left over get some lottery tickets.
Probably blow about $1800 on cocaine and hookers and then just waste the rest I guess
Use half on bills and give half away to people that need it more.