We received an extra $500 gift this month and there are SO many things it could go to that the possibilities are really endless. I don't want it to just get lost int he checkbook, I want to be able to put it to good use. What would you do with it?

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"A true friend is someone who thinks that you are a good egg even though he knows that you are slightly cracked." ~ Bernard Meltzer

Take care of debts if I had any. If not, then invest it in a mutual fund.

If it was a gift, I'd probably spend about $100 for fun things for the family or a family outing or something like that???

The rest would go to debt and if anything was left over, I'd put it in savings.

I picked 'Other'.

I don't really have anything in particular that I need or want. other than a vacation (but no time off). Don't have any credit cards bills, so I'd just chuck it in the an investment account.

cj/

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I was walking home one night and a guy hammering on a roof called me a paranoid little weirdo. In morse code. -Emo Phillips

It probably does depend a lot on anyone's individual circumstances... for example, we easily pay off credit cards each month without having to put it toward that. We also have no problem paying off our debts and bills (are you talking utility bills or car payments??? LOL).

flipper, didn't you say that your DH is in construction or something like that where he does not get an hourly wage or salary? I'm sure that if that is the case, you have it down to a science! It is very different from our home because we have a set paycheck that comes home every two weeks... I don't know how you'd handle your particular situation budget-wise.

If you have outstanding debt (CC), I would definitely put it towards that.

If this were use, we'd be putting in the bank. You can never save enough.

Yeah, definitely use it towards outstanding debt if you have it. That way you effectively turn $500 into more by saving on finance charges and/or fees.

cj/

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I was walking home one night and a guy hammering on a roof called me a paranoid little weirdo. In morse code. -Emo Phillips

If you have any debts pay that off first.
I suggest getting a CD from the bank. The interest you make is usually higher than a savings account. You can start with a 6-month one. If a "true emergency" comes up you can borrow against it or cash it out if you really need to.
This works better for us instead of just putting it into a savings account..which is too easy to get to.

If you have debt, use it on that first. I don't (other than car and house), so I would use about $100 for a fun family time out and then the rest into a vacation savings account

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Proud to say I haven't shopped at a Wal-Mart since Sept 2003

I'd use that $500 to knock off our Discover card. It would be nice to have one less credit card bill!

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Amy
Mom to Lauren, Eryn, Naysa
and announcing......
Gavin Michael Chase, 9 lbs 10 ozs
and 21 3/4 inches long on 10/13/09!

I'd buy a food processor

Yes, sort of, he works in the asphalt department at a quarry and his work is seasonal. This time of year they are really busy and I put anything extra in the bank for the winter months when it's slow and they only work a straight 40 hours.

Honestly $500 wouldn't make much of a difference in our credit card debt, we have a couple of high balances, but they are no interest cards and they were for home improvements (central AC and granite counters). We are thinking of topping off the oil tank for the winter and then getting a load of stone for the driveway, both things worth doing and still not a waste of money. Not as fun as going to the mall, which only one person picked and I would never actually do but it's fun to imagine just blowing it all on a shopping spree.

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"A true friend is someone who thinks that you are a good egg even though he knows that you are slightly cracked." ~ Bernard Meltzer

hot water heater

Saving account

I would splurge $100 and then put the rest towards bills..

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"Never loan your car to someone you have given birth too"

Shoes...shoes and more SHOES!

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I'm the kind of woman when my feet hit the floor in each morning, the devil says "Oh crap, she's up."

I'ld put it into a 6 month, ING CD. Then if I didn't need the money for anything else after it matured, then I would roll it over into another 6 month CD.

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"Why must you speak, when you have nothing to say." Horatio Hornblower

It would go straight into the house . . .

you are lucky that it would get lost in the check book. I am so broke that i would have to put it in my checking account just to pay some bills.