tag:blogger.com,1999:blog-17209233.post1137089576064250163..comments2023-09-30T11:58:07.453-04:00Comments on The Frugal Duchess: Recovering My Frugal Groove: What Would You Do With a $5,000 Bonus? A Friend Seeks AdviceFrugal Duchesshttp://www.blogger.com/profile/00505138013388396364noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-17209233.post-24172815046268078852008-08-01T15:08:00.000-04:002008-08-01T15:08:00.000-04:00The house seed money is a great idea. Too bad, the...The house seed money is a great idea. Too bad, they could not put it to use for that purpose right now as now is a great time to buy!<BR/><BR/>Clark Howard has talked about what to do with such cash. I recall he had one caller on whose numbers hit and the guy claimed he was the recipient of a multi-million dollar (can not recall exact amount, in any event it was a huge amount) payout. The winner was torn between being miserly and blowing the whole thing.<BR/><BR/>Clark was more reasonable and suggested he splurge with about 1/3 of the funds and then stash the rest and then put the rest into savings. With that amount he would be able to find some fairly high yielding accounts and set up another income stream.<BR/><BR/>While your friend's bonus was not huge, it seems she is hitting the proportion about right. Some mad money and a good amount of savings.Marcus Aureliushttps://www.blogger.com/profile/12731740191789466205noreply@blogger.comtag:blogger.com,1999:blog-17209233.post-50381936379597523462008-07-30T18:25:00.000-04:002008-07-30T18:25:00.000-04:00wow... $3000 is a nice chunk-o-change... I could p...wow... $3000 is a nice chunk-o-change... I could pay off the rest of my mortgage with that... or all of my CCs and still have $ left over.<BR/><BR/>if the peeps in their life are suggesting a trip, make it a small weekend trip to a nice BB or something... then save the rest for a big purchase or a rainy day!L. J. Lowehttps://www.blogger.com/profile/12309044516086750611noreply@blogger.comtag:blogger.com,1999:blog-17209233.post-1147591444590054052008-07-30T13:21:00.000-04:002008-07-30T13:21:00.000-04:00Honestly...If I would take 1,000 of it and put tow...Honestly...<BR/><BR/>If I would take 1,000 of it and put toward any bills/debt.<BR/><BR/>I'd take 500 and go have fun.<BR/><BR/>The rest....I would totally put in a long term cd...let it earn interest (aka money you don't have to work for)StrawberryParfaithttps://www.blogger.com/profile/08712304062443835781noreply@blogger.comtag:blogger.com,1999:blog-17209233.post-19990762332866895192008-07-30T00:11:00.000-04:002008-07-30T00:11:00.000-04:00I agree pay off debts, save the majority and use a...I agree pay off debts, save the majority and use a small amount as a reward. <BR/><BR/>http://zombiemoney.blogspot.com/Zombie Moneyhttps://www.blogger.com/profile/03225882122358610797noreply@blogger.comtag:blogger.com,1999:blog-17209233.post-5936380635192018122008-07-29T22:57:00.000-04:002008-07-29T22:57:00.000-04:00if i were to suddenly have $3,000 i would:- get th...if i were to suddenly have $3,000 i would:<BR/><BR/>- get the timing belt in my car replaced<BR/>- buy a small digital camera<BR/>- put $2000 in my ING Direct savings account to beef up my emergency fund<BR/>- pay an extra month on my loanAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-17209233.post-4907198292842357792008-07-29T21:38:00.000-04:002008-07-29T21:38:00.000-04:00pay off debts...if necessary3 or 6 month CD while ...pay off debts...if necessary<BR/><BR/>3 or 6 month CD while thinking about what to do with (can't fritter it away, that way); 3 months takes you to holiday buying season if a big ticket item is decided upon<BR/><BR/>long term savings for a specific use, like savings for down payment<BR/><BR/>IRA/roth IRA funding<BR/><BR/>RyanAnonymousnoreply@blogger.com