What to do?

Question

What would you do if in about a year and a half you were going to move to a different state. You have no money saved up, but your about to get a pretty big amount of money. Would you keep it and put it in a savings account for the move to a different state, spend it on things you want, or keep it and save it to buy something you want but don't need?

Answer 1

Savings account.

BTW if you're planning on moving in a year and a half consider selling everything you don't want to move. That will reduce your moving hassle and expense...and give you some money to cover other things.

Answer 2

First thing, build an emergency savings account. Put at least 6 months worth of living expenses in there.

Next, start thinking about goals you wish to accomplish. Save for retirement? Purchase a house? Go back to school? Whatever. Then invest or save money with that goal in mind.

There's certainly nothing wrong with taking a little of it and buying something you want, but this is a golden opportunity to get on the right track. Don't blow it!

Answer 3

I would put it in a savings account so that it can be earning interest. Then if there's something you feel you really need to buy, take out just what you need. That way you'll still have money to move with.

Answer 4

Buy what is necessary when you are in the New State,then save most of it. You never know if you have to move back!!!!

Answer 5

Savings account. Perhaps one of those investment saver accounts with 4-6% guaranteed with no fees.

Answer 6

None of the above. What you should do is invest it, turn it into more money so you will be better off when you move.

Answer 7

go to school if you haven't, save it if u can live without it. but it doesn't seem like u need to spend it

Answer 8

save and invest in wisely.

Answer 9

save it.

Answer 10

let yourself reward yourself with spending say 10% on yourself and bank the rest.