I have $1,000. How should I spend it?

Question

My friend and I were going to go in on a ski boat for $1,000 each. He backed out and I can't afford the $2,000 asking price. That money was as good as spent so what should I do with it? I can't bear to put it back into my savings account because I am really mad. His wife wouldn't let him buy it. Bad wifey! BAD!

Answer 1

If you can't think of anything you really want off the top of your head, then put it back in the bank until you do. Believe me, if you blow it just to spend it, you will regret it when that $1,000 dollar item comes along you would rather have.

Answer 2

Think of it as found money, like you won the lotto. "Spend" the money on your future by investing the funds. A Certificate of Deposit (CD) is a safe and easy way to go. For a longer term, you can put the money away in a retirement account, such as a Roth IRA. You'd be amazed at how this money can grow and you'll be grateful in the future that you started saving early.

Answer 3

Spend it on a CD(not compact disk, certficate of deposit) most banks offer a higher rate on their online CDs. Invest it until you can afford the ski boat on your own.
OR
maybe a great new outfit with all the accessories(shoes, purse ect)

Answer 4

well, i personally would put it in my savings account. not forever...just while you're thinking about what to do with it, you're gaining a little bit of interest. i would try to get a boat too. i don't know what you should do with your money but i would at least let it grow in the bank while you're thinking about it. but if you're gonna buy something that you might regret later, make sure it's something that you can get a refund for.

Answer 5

It sounds top me like his wife is the only ADULT in the situation. Let her decide what to do with the money.

Answer 6

Buy a flat water kayak.

Answer 7

hmmmmmmm

maybe invest it

spend the next $1000 you get

then invest the next one