How long would you estimate $80,000 to last you?

@pudgles (414)
United States
October 1, 2009 11:20am CST
OK so i came into some money... i paid off all my debt at the time, helped my daughter buy a house, bought a new car, and bought some things for my kids that i could never give them before...I used it also to pay my bills for 2 years and of course did a little spending on the side plus i loand alot of it out to other faiy memebrs in need ... Now 2 years later its all gone. My husband rags on me saying i am the only person that can spend $80,000 in 2 years and have nothing to show for it.. I paid off years of debt that have accumalted, i got a car i needed one. helpd my daughte buy her house, paid 2 years worth of mortage and utility bills, taxes, home and automobile insurances, i have2 children at home to support i didnt go and blow it on shopping and take out.. there were two christmas that i didnt have to struggle with never had to worry about no having enough food, we always had propane and the cost of oil was enough to put a whole in my pocket over the 2 wintes... But seriously.. would $80,000 be alot of money to most people over a two year period considering u have everyday fiances and nesscesityes to take care of?
1 person likes this
11 responses
@jambi462 (4593)
• United States
2 Oct 09
I don't know that's quite a bit of money and I'm pretty sure that I would be able to make that last for quite some time. I can survive with not all that much money currently but if I were to get eighty thousand dollars I would be able to purchase a lot of things that I need like a car and maybe put a down payment on a house or something like that. I can easily survive with a thousand dollars a month so that would be like eighty months give or take which is about six years. As long as I didn't get to greedy or spend too much in one place I would probably be able to make it last for quite some time. Now if only I had it. Lol
@pudgles (414)
• United States
2 Oct 09
LOL yes it was nice while it lasted, but that was the problem i knew i wouldnt have it forever so i wanted to pay as much debt off and get my daughter a well suitable home for her, her husband and the grandkids so that i good sleep better at night knowing they would have a place to call home forever@
@Hatley (164170)
• Garden Grove, California
2 Oct 09
hi pudgles oh my if I had eighty thousand dollars right now' I know it would last for awhile as my son cou ld get us into an apartment then really look for work with a vengance, but of course this is just pretend so no use getting all excited. I do know when you have debts money can go fast.
@pudgles (414)
• United States
2 Oct 09
yes debt thats were most of my money went! my husband just doesnt see that though.. he would rather sit and have bill collectors call and have money in the bank then pay those bills " eventually they will stop" Yea when we go to court!
• United States
1 Oct 09
Seems like you did a good job of spending it if you ask me. Some families go through 80,000 in a year. Judging from your family size and everything you accomplished I'd say you aren't a heavy spender as it is and that your husband must be even more frugal than you or is bad at math. No offence to your husband though, lol. I wish I had 80,000 to spend but if I did have 80,000 I'd say 3 years would be the max it would last me, probably more like 2.
@pudgles (414)
• United States
2 Oct 09
thank you.. yes my husband is ver frugal there is 3 major things that he thinksmeony should be spent on that is... cat food... cigerettes and gas to get to work.. other then that he doesnt see the need to spend a dime! LOL BUT thank you for your response i thought i did a good average job as well!@
@LaurenInLA (2271)
• United States
1 Oct 09
Getting yourself in a position of being debt free is priceless. Broken down, the 80K is only 40K per year. DH and I are retired with no bills. No mortgage. No car payments. Just the normal stuff like gas, electric etc. We live on approximately 40K per year so I don't think that you've done badly at all. I would disagree with your husband that you don't have anything to show for it. You are debt free; have a car and helped your daughter buy a home. Those are quite tangible and quite smart ways to spend your money. Getting yourself ahead of the game by paying 2 years of bills in advance is also a smart move. I honestly can't think of a better way to have spent the money.
@pudgles (414)
• United States
2 Oct 09
thank you so much for your kind words... i feel much better then i did earlier when he nagged on me once again about "wasting" that money. it would be nice to retire and not have any other bills either as far as the normal stuff..
@cher913 (25859)
• Canada
1 Oct 09
well there are a myriad of ways that you could spend that much money and it could be gone very quickly if you let if but it sounds like you didnt waste any of your money at all, so i wouldnt worry about it. i prolly would have done the same as you.
@pudgles (414)
• United States
2 Oct 09
thank you i just wish that my husband could see it that way
@mikeysmom (2091)
• United States
2 Oct 09
i would pay off my credit card debt right away to save on all the interest and i would get a new car as mine is falling apart but i would get something modest and pay off at least half of it and finance the rest. i would put some aside for emergencies that could arise and put some extra each month towards my mortgage to get the principle balance down a bit faster. i would be very careful with it. it could last me several years if i were really careful with it.
@patofgold23 (5074)
• Philippines
2 Oct 09
$80K would last me about 5 years I guess... with the usual expenses... less if i buy something beyond the usual..
@BlueGoblin (1831)
• United States
1 Oct 09
Baring any large expenses I'd expect it to last quite awhile. I would say 3 to 5 years. Possibly even more if you were very frugal but it does depend on where you live.
@MrPKitty (103)
• United States
1 Oct 09
It really depends on where you live. Now I own my house and don't need a new car so maybe I could live off that for 3 1/2 years. But still, it's not that much money today. How long did he expect it to last if you didn't put it all away for retirement? Even if you restricted youself to $20,000 a year living expenses you'd still only get 4 years out of it. He should be happy it was there to get you out of debt and lighten your load. I'm sure he enjoyed the benefits of it.
• United States
1 Oct 09
Oh, since Liz is fed up with apartment living, probably not very long. Figure half for a nice down payment on a small house for us. A bit for various charities we endorse and, if lucky, some back for investment/mad money. 2 years for what you accomplished is really quite good! ENJOY!
@olepmis (842)
• Philippines
1 Oct 09
$80,000 in my country is almost a 4million bucks and would last a life time if spend wisely. You should have put some of your money in some investments that will pay you off like time deposit in a bank, buying and selling prime commodities, etc. The return maybe small but you are making money instead of none at all. Be wise when it comes to money.