What would you do if you've been given $20,000 as an inheritence. I'm a single mom with 2 kids (9 years and 18mo) and will be getting $20,000 from an inheritence. My kids are getting some inheritance also for their college funds (about $5,000 each). I want to go on vacation but I can't decide if I should go somewhere with both my kids, or just my daughter (9 years old), or just me and my boyfriend and dont even know where'd we go. I have never been on a vacation and have never had any time away from my kids (even for just a night). What would you do with the money? Where would you go?
2006-11-20 07:23:28 · 11 answers · asked by Kristin Pregnant with #4 6 in Business & Finance ➔ Careers & Employment
I already have a good car that is paid for and will have access to a trust fund on Jan 2008 that will be a down payment on a home. The reason I want to go on vacation is because Ill be 28 on the 27th on Nov and have never ever gone on vacation or done anything fun :(
2006-11-20 07:36:16 · update #1
I live in SoCal (in the middle of the mojave desert)
2006-11-20 07:37:45 · update #2
I would put the children's !0000.00 and add an additional $10000.00 from the inheritance in an interest earning account for the children's education. With the remaining $10000.00, I would deposit $5000.00 in an account marked ""Emergency Expenses"" to be used when situations arise, eg.
medical and doctors fees etc.
Take two vacations, one with the children and one without ,with the remaining $5000.00.
Spend the balance from the vacations wisely, pay your tithes, and thank God for relatives who were so kind in providing this inheritance.
Where you would go depends on the time of year you wish to travel.
Check out ":Yahoo Travel" for excellent travel suggestions.
2006-11-20 07:52:37 · answer #1 · answered by Seeanna 5 · 1⤊ 0⤋
I would take your 9 yo and leave the baby at home with Grandma or someone. Make it a bonding vacation with your daughter. With a baby and a boyfriend in the picture, it's likely that she is feeling a little neglected and would love some time away with her mom. (You would probably enjoy getting to know her alone also.) Pick somewhere she would enjoy - a dude ranch or maybe kid's cruise. I'd only spend about $5,000 of the $20K and save or invest the rest. You can have quite a vacation for $5K. Consult with a travel agent and they will help you work within your budget.
2006-11-20 07:42:50 · answer #2 · answered by Eva C 2 · 1⤊ 0⤋
First: pay off high interest debt. Compound interest will kill you. Take care of credit card debt if you have it, and put yourself in a position to not get more of it.
Second: invest some of it.
Third (and just as important): spend some of it on a vacation or something else. Vacation is a good idea. You can spend $2000. You don't say where you live, but there are good vacation options anywhere. You don't necessarily need to spend $1500 on airfare to go to Orlando or Vegas or San Diego. For example if you live in Ohio you can drive north to go skiing or spend a weekend in Chicago. If you live in Texas you can go to N.O. If you live in Washington then take a drive down the Oregon coast and stay at 3 different hotels on the coast.
18month child on vacation is tough but definitely doable.
2006-11-20 07:35:38 · answer #3 · answered by Jeff A 3 · 0⤊ 0⤋
Depends on where you live, and what you're intrested in. Ask your husband for 5 choices of where he would like to go, then you write up 5 as well. If you don't each come up with somewhere that's similar, try again until you both go.....YEAH!...let's go there!
And as for the kids, I say (As a parent) that it sounds like you 2 really need a break, so don't feel guilty about leaving the kids with someone responsible. You deserve a break, and when you come back you will have a renewed appreciation for each other, the world, and your children. (You'll miss them more than you think.)
2006-11-20 07:32:16 · answer #4 · answered by jirstan2 4 · 0⤊ 0⤋
Take the vacation w/out your kids. You deserve a break. Go somewhere you've always dreamed of going and do something there that you will never forget. Grab this chance and live it to the fullest!
2006-11-20 07:29:03 · answer #5 · answered by Anonymous · 0⤊ 0⤋
i'd invest in a good house and car. use the money to buy stuff where you could go on vacations all the time, like a tent, a car that has low gas mileage, etc. that way once the money runs out, you can still take a vacation. tip for the road: don't blow all your money on your boyfriend :]
2006-11-20 07:28:16 · answer #6 · answered by kitty 2 · 0⤊ 0⤋
Easy answer!
Japan! Cherry Blossom Season. Without the kids
Winter time with the kids!
Bring me back Kinono please!
$20,000.00 goes rather fast... Make sure you put some away for a rainy day! Take a class, get a degree better yourself!
I pissed through a large trust in two years! I have alsolutely NOTHING to show for it!
2006-11-20 07:31:28 · answer #7 · answered by Anonymous · 0⤊ 0⤋
What would i do?
I would save it! You never know when you might need it.
$20,000 will go quick and a big vacation for 4 could eat up most of it.
Bur what the hell take 'em to Disney land!
2006-11-20 07:28:30 · answer #8 · answered by Yahoo Answer Rat 5 · 0⤊ 0⤋
I implore you to vacation in the US and moderately, putting the bulk of your inheritance in sound investments. Get professional investment advice.
2006-11-20 07:30:34 · answer #9 · answered by Beejee 6 · 0⤊ 0⤋
Invest it in mutual funds! Tell the BF -back seat. My kids future is a #1!
2006-11-20 07:31:34 · answer #10 · answered by marie1257 4 · 0⤊ 0⤋