-
Yea, I don't know! I feel like I would be super happy and relaxed if I could pay off my student loans, but I do think I might be 'onto the next thing.' It's just how life goes!
-
Um, yes... totally. I'm actually content in our brokeness, so I don't think it would cause me to get greedy. We could almost pay our mortgage off with $100,000. That would be incredible.
-
I'm sure there is a number that would make most everything financially easier - it isn't 100k though.
-
If I had $100k when I was 22 and I could just leave it in a rather aggressive investment, I am sure it would be enough to maybe pay for my son's college or something.
I feel like a million almost isn't enough. And we're not extravagant or anything.
-
100k it would help. But we have more than that in student loan debt....
Honestly, I don't stress about money, and we are certainly not well off. It is what it is. We are in a better position than many, and I feel privileged and lucky for that. We have money in savings, and have both invested heavily in our careers and have good earning potential. Things will work out. We also don't live or have a desire to live an extravagant life- we don't travel much, drive old cars, etc. I'm okay with it all. My parents stressed about money my whole life, and I hated it. I am doing everything in my power to make sure my kids don't have to experience that. -
Yeah, but the better thing would be to be smart with our budget and finances across the board. We are on a war path to be good with our money these days! One windfall isn't as good as a lifetime of good habits.
-
Im not gonna lie.... when my FIL died we got handed a large chunk of money (larger than $100k)... it didnt change anything for us and the only thing we've really touched it for was to pay of FILs mortgage so we could keep the house.
-
It would allow us to have a paid off home and car, we would be able to live with no debt whatsoever. So it would be amazing for us.
-
yep, it would be great for us! we're in a holding pattern with new careers and we would continue on as normal but relieve pressure from both DH and i being in "start up" mode!
-
I used to think yes; but after having gotten substantial raises/going to two higher incomes I definitely say NO. I believe that most people learn to live with what they have, and the more they have access to, the more they spend. We live a pretty (IMO) modest lifestyle, but having more money means being able to do more, buy homes in better school districts, etc. It gets spent and it becomes a comfort level (I don't mean materially, I mean comfort in stress level relating to finances) you get used to.
Paying off our mortgage (our biggest expense, by far) would only net us less than $2k a month extra. Nice to have, for sure, but not exactly the makings for the easy life without work!
-
Erm, 100K before or after taxes? ha. It wouldn't pay off that house, but it would cover daycare comfortably and allow us to put a chunk in E's college fund! it doesn't go very far, but it could certainly grow
-
It would be fun! We would use the money to remodel. Nothing life changing though.
-
It would help for sure! We could get stuff done around the house we need to do, get DH a new car, and save the rest for day care payments.
-
While I wouldn't turn it down, unfortunately, it wouldn't make too much of a difference for us. It would take a substantially larger sum to make a difference. And it would take millions to make me feel comfortably set for life.
-
Oh yeah. We're simple people and enjoy doing simple things. Any more than that (ie winning the lottery) would be too life changing.
-
It would make a difference, but we would still need to work
-
Well if I had $100,000 in the bank and we were getting my husband's retirement then it would be amazing! True $100,000 isn't a ton, but if managed properly it could be.
-
$100K would absolutely change our lives. It would pay off ALL of our debt - which in turn would free up $600/month that could be spent elsewhere. We could pay off both of our cars freeing up another almost $600/month! We could then start a savings account (we currently have $0 in savings), make a down payment on a house ($0 for that currently) and many other things that would improve our quality of life.
-
It would be a huge help for us. It would pay off almost all of our student loans, meaning we could be done paying them off (with regular payments) in less than a year or two, instead of ten. I can't even imagine how wonderful that would be.
-
Yeah, it would be pretty awesome. We could get our mortgage down far enough that we could sell our house and have a chunk of money from it to buy a new one.
-
I don't need to pay off my mortgage, but $100k would do a wonder in my savings/investing! I would probably pay off our tax debt and that would change so so much.
Eta: I also agree with other that, while it wouldn't change all of life's problems, it would definitely help and change certain situations!
-
With 100k, I could pay off our hospital bills, our student loans, another loan, and automatically have about 4 months living expenses saved for.
If that were to magically happen then, we would have an extra $1000 a month. That would be a ton extra that we could save for the boys college, plus probably pay off our mortgage ten or fifteen years sooner.
So is it enough in that we could drastically change our lifestyle or have all of our concerns paid for? No. But it would make us much more comfortable in our future.
-
Can I just pretend $100k fell out of the sky right now. Let's see what would I do ...
1. Pay off my student loan
2. Get new windowsWhatever's leftover, I'm using to tear down a wall and expand my kitchen!!!
-
@Silva: Exactly this, childhood experience and everything. We bring in what we bring in and go from there. We have a budget, but it's not as if things are tight or that we're poor like when I was young, so I am very content.
$100K would take care of our student loans and also give us a substantial downpayment on a home, which would also allow us to then take a 15 yr mortgage and pay it off quickly while still making lower total monthly payments than what our rent+student loans currently are each month. If I could be debt free and own a home in 10 years or less, I'd call that a life changer.
-
I would love an extra 100k! Home renovations!
-
I don't know what we would do with it. We are debt free but rent. We have no plans to buy where we currently live (and 100k wouldn't go very far). We would probably just invest it.
-
100k would be lovely but not life changing. We could definitely use it to put towards a new home we are currently looking for.
-
$100k would be awesome. We could pay off our mortgage.
- Google Plus
- Stumbleupon
- Twitter
- Facebook
- Pinterest
- Favorite0
67 comments