I’d pay someone else to do some remodeling on our home and probably throw some at the mortgage on a second home we took on for our sons.
I’d call us upper-middle class.
I don’t know where or how you live, but even the full $12,000 / year doesn’t buy much remodeling these days.
First I’d pay off my debt (It would take 2.5-3 months to do so). Then for about 3 months I’d celebrate. I’d have a few meals at expensive restaurants and buy another bagpipe. Either a very high-quality new built one or a vintage set of Hendersons. Then I’d start putting the money aside and save up for a downpayment on an apartment.
No, but if a bathroom remodel was $20k, getting it for half the price could easily be the difference between signing the contract or not.
I guess we’re solid middle class. My very generous pension easily covers all living expenses and we have not had to touch either of our retirement savings accounts and the forced distributions are going into ordinary investment accounts that have grown continuously. Our kids are well settled. I guess I would split it between them and my sister.
Now if I actually had to use the money, I guess I would do a lot of Door Dash. Incidentally $100/day in the early ‘40s is easily the equivalent of $1000/day today. If I had to use it up every day, I cannot imagine how I would do it. Maybe go to the casino.
I didn’t expect that.
I would give mine to my 2 kids. They could make better use of it than I could.
Bagpipe story I read only days ago:
How Did Bon Scott Wind Up Playing Bagpipes on ‘High Voltage’ Classic? AC/DC Expert Explains
It turns out that Scott went out and supposedly purchased a set of bagpipes for 479 Australian dollars, which “Would have been enough to buy 2 brand new Strats at that time.”
I’m probably upper middle class.
I wouldn’t need the money. If I had it, I’d just invest it.
If I was forced to spend it, I’m not sure what I would spend an extra 1k a month on. If I had to spend it, I think I’d buy better food. More items at the grocery that look nice to try, or going out to restaurants more.
I’d probably also get some cosmetic procedures done (hair transplants, things like that).
Do you live in a developing country? My understanding is you can live fairly comfortable on 1k a month in various developing nations. However living on that in the US is extremely difficult unless you own your own home with no mortgage, and rent out a spare bedroom.
United States. Ohio.
I have not worked enough to collect social security. I’m 65. Two off the record jobs and also helped by my parents, since deceased.
I live in HUD housing. Its a third of your income. Its 25 now when I am not working.
People help me with money and t p.
A rich friend of mine is shocked I only get 298 in food stamps but its enough. He probably spends twice that on mostly take out.
You’re suddenly given an extra $1000 per month…How do you spend it?
Actually, because of the way my pensions are being managed/handled, something like this is happening to me at the moment. I’ll get back to you when I know. As others have said, holidays are going to feature.
Solidly (UK) middle class, no debts. But raised aspirant lower middle class, and just can’t shake those careful-with-money habits. I’d like to say that I no longer give a shit how much a bottle of whisky costs; but it’s a lie - I’ll always wait until it’s on offer.
j
I don’t know how I would spend an extra 1000 a month right now. I don’t spend all my monthly income as it is. Maybe it’s lack of imagination, maybe it’s just that I am set in my ways, or maybe what Treppenwitz said about being careful with money because of my upbringing. Neither car is in need of replacement. We already buy good food. I don’t want to buy things to clutter the house. We’ve already planned our holidays for next year. I don’t have a lot of spare time to take up an expensive hobby. The best use of the money for me, if I am allowed to save/invest it, would be to allow me to retire a year earlier.
$500 for debt reduction and saving
$500 for travel - would fund a couple of nice trips to the Caribbean or Europe every year.
Savings/Investment. We just did a huge home improvement project a few years ago, so we have 20+ years before the next big thing, presuming no catastrophes.
Upper middle class
Just slightly above poverty. Paycheck to paycheck.
Catch up bills. New roof, siding, doors, and indoor redecoraring. After all that I could quit my job.