I have $4000 in savings that was going to go towards a vacation that I am no longer going on.?

Question

I don’t want to use it towards my mortgage or cars since they are almost paid off. I don’t want to invest with it.

I was thinking about using it for home improvements like buying a new tankless water heater or air conditioning for my house.

My wife wants to keep it in the bank for when we have a baby in about a year and a half to two years from now.

If you had $4000 what would you do with it?

Answer 1

Personally, I would use some of it for home improvements, but you would be wise to leave at least half of it in the bank. If you're starting a family, you might want it as an extra cushion in case something happens. It would be a good idea to add to it as frequently as you can.

Answer 2

Just an idea what to do with your four thousand dollars :
1)I put in a tankless water heater.It is a great investment as it will reduce your bill by a min. of 50%, it is an energy saver, it will not have to be replaced for 20 years or so (depending on use) and a big plus here is you would qualify for a tax credit!
The one I listed below we found at Ace Hardware priced about $1000 ( without tax)
2) If you have any credit cards you can pay off ( or bring down your balance)
3)Keep some money in the bank to earn interest (rainy day fund, baby fund, College fund or whatever)
4) Do some home improvements
5) Surprise your wife with a weekend get away for the two of you.
Good Luck with renovations, enjoy your savings and remember it is never to early to save for your future or your childrens.

"Bosch" Aquastar Whole house tankless water heater
(250SXNG) $999.99

*175,000 BTU input, electronic ignition with built in power vent for vertical or horizontal venting
*AQ3 vent kit required for horizontal venting
*Provides endless hot water for two showers running simultaneously (up to 6.4 gallons per minute)
*Can replace 75-gallon storage tank water heater
*Average life of 20 years
*8.5"D x 15.75" W x 23.5"H
*12-year mfg. warranty on heat exchanger, 2-years on parts
*Natural Gas
*Qualifies for $300 tax credit

Answer 3

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Answer 4

Definitely keep it for the baby. Believe me you will need it. I have 2, I know first-hand how expensive it is raising kids. If there is anyway of still going on the vacation, do it before you have the baby. My husband were planning to go to Jamaica, but then I got pregnant and that kind of ruined our vacation plans. If the vacation is definitely out of the question now, then, yeah, I'd recommend on saving for the baby, especially if your sure you're going to have one.

Answer 5

Save half of it in a high intrest savings account and use the other half for house imporvements. The tankeless water heater save you money they are expensive to buy and install but they save you tons in the long run trust me.

Answer 6

plan another vacation. but this time go. spend half and keep half for a rainy day. it seems you have everything else under control.

Answer 7

Put half on my credit card and half towards my school loan.

Answer 8

You know why, instead of to keep worrying about this money, just send it to me, I will take care of it.