Have you ever played the “when I win the lottery” game? It is fun to think about what we would do with a windfall of cash, but when it is a smaller amount the decisions are much more strategic. In a recent poll over in our Rebelle Conversations Facebook group, we asked the question:
If someone handed you $5K, no strings attached, what would you do with it?
The responses were varied, but definitely there were themes.
Pay Off Debt
Invest in My Business
Pay It Forward
Here are a few of our favorites from 5 Rebelle Community Members who are clearly smart with their hypothetical money.
C.R. - I would put it into my child’s college fund - it took several years for my husband and I to pay off our student loans, cars, and become debt-free (except our mortgage) and it was important to us to do that before I started my business a few years ago. I want to help make that transition into adulthood easier for my little
M.B. - I’d put a percentage in bank savings for easy access (skip the retirement for now); pay some CC debt, maybe an extra payment to student loans, get my hair done and have a mental health spa day!
S.S.G. - The first thing I would do, is call my financial advisor to talk through the plan, because otherwise I would spend it emotionally. I think I would want to put a little towards credit card debt, a little towards my IRA, buy a new chandelier for my bedroom, maybe a new bathing suit.....and of course a chai latte to celebrate!
M.S. - 3k toward debt, 1.5k toward savings/emergency fund, and the rest for professional or personal development i.e. taking a writing workshop, getting a therapist, rebelle con conference <3
P. T. - Rent warehouse, turn it into a dungeon and be a dominatrix.
S.K. - Keep 2k for myself to do something memorable with, like a plane ticket or air b&b, then pay forward the rest to another alpha sister the same way, no strings attached.
U.G. - Put some money aside for the business I am trying to get off the ground and take a much needed vacation to clear my head and gain some much needed perspective and breathing room.
A.S. - I would pay someone professional to help me organize my business and to teach me to keep it organized.
C.L. - Hire someone to do stuff I don't enjoy doing (specifically a maid service, laundry service and meal prepping service) and then after a few months, or however long $5k gets me, decide if I need to make adjustments to my budget to keep them long term.
S.L. - Stack my savings accounts
What would you do?
Join our conversation over in our free Facebook Community!