How do you distribute them if you get ten thounsand dollars?

February 3, 2010 12:40am CST
If you get ten thousand dollars, how could you distribute this a sum of money on your life? Extravagant is so easily to do, but for long distance, how can you put these in a reasonable way? After celebrating, the real challenge which seems like a tough math question just coming. I have no idea about planning on the sum of money, and you? what do you want to do and how do you manage them?
4 responses
• United States
23 Mar 10
I think for a long distance plan, the best way to make use of that money would be investment. Maybe half in certificates of deposits that would be safe and half in the stock market with more of a risk but also more of a reward? There's definitely many good uses for 10,000 dollars if one is trying to plan for the future. Extravagance sounds more fun though.
• China
28 Nov 10
Thank you for your comment. Just as you said, maybe reward comes from risk and we should focus the part of what we gain anyway.
@hvedra (1619)
22 Mar 10
With any windfall, the first thing to do is reduce any debt that you might have. Other than that it depends on the economic climate or your lifestyle as to how you spend it. It might make sense to put it in the bank in a long-term high interest account or it might make more sense to spend it on things that have a value later on or stockpiling things you know you will need that are on sale.
• China
28 Nov 10
Hello,hvedra. Thanks for your comment. I completely agree with your opinion that how to handle this amount of money,partialy depeds on the economic climate here. No doubt it is a long term plan.
• Philippines
13 Feb 10
I follow this percentage rule I made for myself: 30% - save in bank accounts 30% - invest in business or stocks 15% - give to my family 15% - give to church 10% - spend for myself
• China
13 Feb 10
Thank you so much for your logical plan especially the percentage about this big sums of money. It means a lot to me. Part of this are saved in bank for emergency situation and others are divided into some parts to be as the important roles in our life. I totally agree that put some take part in stock in which we could get double or more money than we have now. Of course, we maybe lose all, but get them to run always better than keep extra money in the bank.
@puccagirl (7296)
• Israel
28 Jan 11
I would use part of it as a down payment on some kind of real estate, and save the rest. Sounds very boring, but I honestly think it would be the clever thing to do in such a case!