WHAT TO DO WHEN YOU GET $7500 IN ONE LUMP SUM
So I recently received my relo money. What to do with one lump sum of $7500? Well, of course I’m supposed to “relocate” with it, but what does that mean, exactly?
We’re driving my car up over the course of two days. 1283 miles, getting 28 miles per gallon (at least), averaging gas of $3/gallon, that means we’ll spend approx. $137.46 in gas.
We’re driving 8 hours New Orleans to Knoxville on day 1, ten hours Knoxville to Basking Ridge on day 2. One hotel night has been booked. $85.
My car, despite having 102,000+ miles in its 5 short years of life, is in excellent condition. Before we go, I’ll get an oil change, Michael is changing the rotors, rotating the tires, and flushing the coolant system. At most, this will cost $250.
After driving up and moving in, Michael will stay with me in NJ for a few weeks (glad he’s free this summer!). He’ll fly home end of July/early August, as his school semester will start shortly thereafter. His ticket home is $150.
My mom wants to come visit. As you know, we’re super close, and the thought of her not knowing where I live is unthinkable. I’m happy to pay for her round trip ticket, $300.
That’s $922.46, leaving $6577.54 to spare. What else should I spend it on?
Let me tell you, the tempation has been strong…
…to buy gifts for everyone I know. I’m at the end of this internship and I’m getting all the feels about leaving this great team and I just want to buy everyone who’s helped me along the way something super nice.
…to go to the casino. Guilty. We love it. We haven’t been since March 2014. We used to go all the time and have SO much fun. I definitely miss it.
…to buy new bras and underwear. I think I last bought these items in… 2009?
…to get a massage. My everything hurts, and I miss my monthly massage membership I obviously gave up when I embarked on my debt repayment journey.
…to buy Michael new clothes. He’s not a complainer, and we aren’t really fashion-people, but his clothes are certainly looking pretty worn. We last bought him clothes in 2013.
…to see Broadway shows. We’ll be SO close to NYC and we love theatre so much! I know we’ll end up going at some point. I think we’re going to attempt the TKTS booth thing. More on this later.
…this list could go on and on, let me tell you, I’ve thought about it all.
What are we actually going to do?
Pay for my flights to come home once a month through the end of 2016, and more importantly: Pay off a credit card! I’m so excited about this. SO EXCITED. I paid off one little one many months back, and have been doing pretty well paying off the others. I’ve been extremely diligent about not using credit cards at all since the year started. Now, I’ll be paying off my gas card (balance $2000+) because it has the highest interest rate at 24.99% (BARF). I’ve also worked into my budget real money to pay for gas each month so we won’t ever have to use the gas card again. Hallelujah.
And there goes my $7500. What would you do with the money? Just for fun, what would you be tempted to do with the money??