Comments on: The Best Way to Handle a Windfall or Monetary Gift http://financefreelancelife.com/2008/08/26/the-best-way-to-handle-a-windfall-or-monetary-gift/ Thu, 11 Mar 2010 07:52:23 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: SavingDiva http://financefreelancelife.com/2008/08/26/the-best-way-to-handle-a-windfall-or-monetary-gift/#comment-24646 SavingDiva Mon, 08 Sep 2008 01:04:59 +0000 http://financefreelancelife.com/?p=854#comment-24646 I just received a windfall ($1250) recently. I set money aside for a flight to visit my boyfriend over Thanksgiving, buy the bridesmaids dress for my sister's wedding, and I put the rest into my emergency fund. If my budget was so strict, I would have liked to use about 10% to treat myself...a spa trip or something...but no such luck! I just received a windfall ($1250) recently. I set money aside for a flight to visit my boyfriend over Thanksgiving, buy the bridesmaids dress for my sister’s wedding, and I put the rest into my emergency fund.

If my budget was so strict, I would have liked to use about 10% to treat myself…a spa trip or something…but no such luck!

]]> By: thinkingthing http://financefreelancelife.com/2008/08/26/the-best-way-to-handle-a-windfall-or-monetary-gift/#comment-23963 thinkingthing Mon, 01 Sep 2008 23:11:21 +0000 http://financefreelancelife.com/?p=854#comment-23963 Oh man, save the money on the CSS hacks and just get the info online. Pretty much all these books contain information that is easily found online. Here is a good site: http://www.csszengarden.com/ I make sure my high interest savings account ACHs up my windfalls before I get my grubby little fingers on it. Sometimes I leave a little behind... I bought a crock-pot with a small portion of my economic stimulus check and have saved a lot of money by cooking food six quarts at a time. Oh man, save the money on the CSS hacks and just get the info online. Pretty much all these books contain information that is easily found online. Here is a good site: http://www.csszengarden.com/

I make sure my high interest savings account ACHs up my windfalls before I get my grubby little fingers on it. Sometimes I leave a little behind… I bought a crock-pot with a small portion of my economic stimulus check and have saved a lot of money by cooking food six quarts at a time.

]]> By: Weekly Round-Up: King’s Dominion | Green Panda Treehouse http://financefreelancelife.com/2008/08/26/the-best-way-to-handle-a-windfall-or-monetary-gift/#comment-23871 Weekly Round-Up: King’s Dominion | Green Panda Treehouse Mon, 01 Sep 2008 03:57:12 +0000 http://financefreelancelife.com/?p=854#comment-23871 [...] The Best Way to Handle a Windfall or Monetary Gift [...] [...] The Best Way to Handle a Windfall or Monetary Gift [...]

]]> By: Dana http://financefreelancelife.com/2008/08/26/the-best-way-to-handle-a-windfall-or-monetary-gift/#comment-23709 Dana Sat, 30 Aug 2008 04:09:17 +0000 http://financefreelancelife.com/?p=854#comment-23709 We try to put half in savings and spend the other half on things we have been wanting (such as a new DVD player, books, etc). We keep a book wishlist. When we use to get contract checks for extra work my husband did, we put 50% towards debt, 25% savings and 25% on our wishlist. We try to put half in savings and spend the other half on things we have been wanting (such as a new DVD player, books, etc). We keep a book wishlist. When we use to get contract checks for extra work my husband did, we put 50% towards debt, 25% savings and 25% on our wishlist.

]]> By: Faye http://financefreelancelife.com/2008/08/26/the-best-way-to-handle-a-windfall-or-monetary-gift/#comment-23607 Faye Thu, 28 Aug 2008 12:06:32 +0000 http://financefreelancelife.com/?p=854#comment-23607 I've never had a problem overspending money. My family says I think too much on how I'm going to spend my money that I lost every last bit of fun of spending. Planning is essential. When I receive money as a windfall or a gift, I always write out what I plan to do with it, making sure that I take away the necessary savings, tithes, and payments. After that, I think about what I can afford to spend and if it's worth it. I had $70 to spend for my birthday last July. I only spent $30. I placed the other $40 in my checking account, just waiting to be spent. I'm still not sure what to buy so I'll just let it sit there. I’ve never had a problem overspending money. My family says I think too much on how I’m going to spend my money that I lost every last bit of fun of spending.

Planning is essential. When I receive money as a windfall or a gift, I always write out what I plan to do with it, making sure that I take away the necessary savings, tithes, and payments. After that, I think about what I can afford to spend and if it’s worth it.

I had $70 to spend for my birthday last July. I only spent $30. I placed the other $40 in my checking account, just waiting to be spent. I’m still not sure what to buy so I’ll just let it sit there.

]]> By: Laura In Atlanta http://financefreelancelife.com/2008/08/26/the-best-way-to-handle-a-windfall-or-monetary-gift/#comment-23561 Laura In Atlanta Wed, 27 Aug 2008 18:10:17 +0000 http://financefreelancelife.com/?p=854#comment-23561 Happy early birthday! I once got a $10,000 gift from the estate of my grandparents after they both died. And I immediately put it in a CD! I was afraid that if I put it into my checking or savings account, that it would be too tempting! So, put it in a CD (and unfortunately, I didnt really shop around that hard for a good rate, I just went with what was currently being offered by my bank) and it was held up safe and sound for a whole year. And Im so glad I did! Its been 3 years now and every time i need to renew, I do it before I am tempted to spend it! (I also have since laddered it into 6, 9 and 12 month CDs, and I sort of look at it as an Emergency Fund.) Always enjoy your posts, keep up the great work! Laura Happy early birthday!

I once got a $10,000 gift from the estate of my grandparents after they both died. And I immediately put it in a CD! I was afraid that if I put it into my checking or savings account, that it would be too tempting! So, put it in a CD (and unfortunately, I didnt really shop around that hard for a good rate, I just went with what was currently being offered by my bank) and it was held up safe and sound for a whole year. And Im so glad I did! Its been 3 years now and every time i need to renew, I do it before I am tempted to spend it! (I also have since laddered it into 6, 9 and 12 month CDs, and I sort of look at it as an Emergency Fund.)

Always enjoy your posts, keep up the great work!

Laura

]]> By: Alisa http://financefreelancelife.com/2008/08/26/the-best-way-to-handle-a-windfall-or-monetary-gift/#comment-23551 Alisa Wed, 27 Aug 2008 14:01:42 +0000 http://financefreelancelife.com/?p=854#comment-23551 The most recent money gift I received was used to pay a very important expense. I don't receive a whole lot of monetary gifts but when I do, they etiher go towards an expense, something special for my mom, and occasionally; I'll treat myself to something. Be well. The most recent money gift I received was used to pay a very important expense. I don’t receive a whole lot of monetary gifts but when I do, they etiher go towards an expense, something special for my mom, and occasionally; I’ll treat myself to something.

Be well.

]]> By: Cath Lawson http://financefreelancelife.com/2008/08/26/the-best-way-to-handle-a-windfall-or-monetary-gift/#comment-23514 Cath Lawson Tue, 26 Aug 2008 23:01:17 +0000 http://financefreelancelife.com/?p=854#comment-23514 Hi Mrs M - Happy Birthday for last week. Did you plan what you're going to spend your birthday money on yet? I completely agree, with a larger amount folk should definitely write it down. I think the temptation for many people would be to go mad and wind up blowing it on stuff they didn't need. Hi Mrs M – Happy Birthday for last week. Did you plan what you’re going to spend your birthday money on yet?

I completely agree, with a larger amount folk should definitely write it down. I think the temptation for many people would be to go mad and wind up blowing it on stuff they didn’t need.

]]> By: My Daily Dollars http://financefreelancelife.com/2008/08/26/the-best-way-to-handle-a-windfall-or-monetary-gift/#comment-23509 My Daily Dollars Tue, 26 Aug 2008 22:27:59 +0000 http://financefreelancelife.com/?p=854#comment-23509 I know the feeling! It's so easy to overspend gifts. I try to write it down as well. For larger windfalls, I'm trying to not think about spending them until I actually get them! All the planning leads me to overspending. I know the feeling! It’s so easy to overspend gifts. I try to write it down as well. For larger windfalls, I’m trying to not think about spending them until I actually get them! All the planning leads me to overspending.

]]> By: mrsmicah http://financefreelancelife.com/2008/08/26/the-best-way-to-handle-a-windfall-or-monetary-gift/#comment-23497 mrsmicah Tue, 26 Aug 2008 20:48:53 +0000 http://financefreelancelife.com/?p=854#comment-23497 Forgot to close an "em" tag. Fixed. :P Forgot to close an “em” tag. Fixed. :P

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