Posted: 12/14/2004 12:02:39 AM EDT
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Choice 1: Buy a Rock River Hardball .45 ($1500)  AND upgrade my wifes Harley Sportster 883 to a 1200 ($1000) and use the extra $1000 to pay down a loan. Choice 2: Help pay down an existing loan Choice 3: Pay someone to tile my kitchen, dining room, laundry room, and bathroom ($3500) Poll coming. |
LOL!
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Pay off the loan. I've lost track of how many guys I used to know who pissed away their money on toys, yet had $10K plus in Credit Card debt. They later complained of being "poor" and how life was sticking it to them. They lived too close to the edge, and when things got tough, they often went right on over the edge, and couldn't pay their bills. Life has a tendency to smack you upside the head when you least expect it, and not being in major debt helps alot. |
| Life does have a way of smacking us in the head, but I would pay down some loan and spend some to seize the day. I just buried a friend who was 45. In the past 5 years I have buried 6 friends, all younger than I am. You don't know when the wheel stops on your number, so split your windfall between doing the responsible thing and doing something for yourself and loved ones (guns included). It will put you further ahead on the loan than you would have been before the windfall, yet satisfy the inner child |
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Take $500 and blow it on a toy for yourself. Use the rest to pay down the loan. Saving 100% of your windfall, while ultimately the best financial medicine, is not always the best overall solution. Your mental happiness is also part of the equation. A lot of people who set unreasonably tight budgets inevitably blow those budgets when they find that life is miserable when you're living on Ramen noodles every day. You have to build in some "fun money" otherwise you'll go nuts. So take some of it and have some fun. But use the rest to pay down your debt. |
Split between floors and loan. And do most of the floor work yourself to maximize the savings. |
Choice 4: Buy several CDs and invest the money. Ben |