What would you do with the money?
No, seriously. Because I have absolutely no clue…
After taxes, I’d pay my bills. After that, I’d put the rest of it towards student loans.
Now if I got 50K after taxes I’d do the above then buy myself a 2003 Honda Accord V6 EX
Decide what your financial situation is: Do you have a lot of bills piling up? If not, is there something you need to make your life easier or more efficient (i.e., washer/dryer, car, central air, something like that)? If you’re covered in those areas, you might consider having fun with $4k and investing the rest.
Donate it to dopers whose user names are that of 14th century Italian poets…
Pay off the bulk of my student loans. 15k would pay off most of what I have left, tho I don’t know how much there would be after taxes. But even so, I’d throw it at my student loans. It would be so refreshing to be out from under that debt!
Whoo hoo, travel money! Heck, you could probably get all the way around the world on that, if you’re frugal.
It’s always nice to put a down payment on a house.
-lv
Another vote for throwing it at my student loans. That would be a real windfall in the saving game. It wouldn’t pay them off but at least it would pay off a pretty big chunk of it.
Assuming I inherited 15k after my student loans were paid off and actually got all 15k (ie, 15k after taxes), I would invest 5k, buy a paraglider and do the lesson thing (roughly 5k), and then take a Hawaiian(sp?) vacation.
Back Taxes, Student Loans. And I’d probably set aside a couple hundred to stock up on cheap wine, and go out for a real nice steak dinner at Ruth’s Chris or something.
[Homer]
Mmmm. Steak Dinner…
[/Homer]
I’d take the Hawaiian vacation first, just in case the paraglider lessons ended badly.
May I suggest reading Marketplace host, David Brancaccio’s book Squandering Aimlessly?
In it he explores various ways one could spend an unexpected windfall. An very enjoyable read.
Just waiting for my windfall now.
[Disclaimer: Dave is a good friend of mine, but even if he wasn’t, I’d highly recommend this book.]
Fortunately, in Ontario, there’s no tax on inheritance. So that’s $15,000 of loans gone.
Pay bills. Or maybe some on bills and some in savings - a little cushion is nice.
You know those student loan letters that you get every month? I am the person who prints them. If you pay off your loan, I won’t have a job anymore. You selfish bastard!
I inherited some money about a year ago. I paid off my credit card with it. I figured he would have wanted me to use it where it was most needed, and that was it.
Wouldn’t want to put Penumbra out of a job, so I’d have to head back to South America. I hope you’ve got plenty of stamps, Penumbra.
Uh oh - I think I’ve already contributed to your ultimate unemplyment… I’ve opted to receive only electronic communication from the owner of my loans. I even pay by direct debit. Profuse apologies!
Well, if you get laid off you can always go back to school, right?
If I lose my job, I lose the provided company tuition reinbursment where they pay for my college.
That would definitely suck.
$15,000 is very nearly exactly what I owe in student loans. So I’d kiss them good bye.