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that omnipresent meme
Feb. 15th, 2013 04:22 pm$10 - Cash just goes in my wallet and gets used as spending money. Cheque would probably get deposited at my bank's nearest ATM and essentially disappear into living expenses.
$100 -Same as $10, but it lasts longer.
$1,000 - Goes in the bank for sure. Whether it goes into the savings account earmarked eventually to replace our ancient car, goes in the account with the debit card I use at Costco or goes in the account used for most other household expenses (and then probably into extra payment on our mortgage next month) depends on which aspect of our finances I am feeling most twitchy about at that moment. For the next little bit, whomever asks me for money that I regularly donate to probably gets a bit more than I usually give.
$10,000 - Probably put directly into the savings account. That car of ours is getting awfully ancient.
$100,000 - Put into the savings account. After a bunch of research on car prices and a discussion with our mechanic about the car's projected longevity, sufficient funds to cover the car stay there. Then I get estimates on how much it would cost to convert the porch to a third bedroom (or finish the attic, but I bet that is more). If the remaining amount is sufficient, that is what happens. (Possibly if a small home equity loan is necessary to make up the difference that still is. Otherwise it gets invested somewhere socially responsible and relatively short term until when we have the full amount.)
$1,000,000 - Put aside enough for new car. Finish the attic including a bathroom, and put solar panels on the roof. Pay off the rest of the mortgage and my student loans. The remainder goes in the kids' college funds and to various charities and political groups.
$100 -Same as $10, but it lasts longer.
$1,000 - Goes in the bank for sure. Whether it goes into the savings account earmarked eventually to replace our ancient car, goes in the account with the debit card I use at Costco or goes in the account used for most other household expenses (and then probably into extra payment on our mortgage next month) depends on which aspect of our finances I am feeling most twitchy about at that moment. For the next little bit, whomever asks me for money that I regularly donate to probably gets a bit more than I usually give.
$10,000 - Probably put directly into the savings account. That car of ours is getting awfully ancient.
$100,000 - Put into the savings account. After a bunch of research on car prices and a discussion with our mechanic about the car's projected longevity, sufficient funds to cover the car stay there. Then I get estimates on how much it would cost to convert the porch to a third bedroom (or finish the attic, but I bet that is more). If the remaining amount is sufficient, that is what happens. (Possibly if a small home equity loan is necessary to make up the difference that still is. Otherwise it gets invested somewhere socially responsible and relatively short term until when we have the full amount.)
$1,000,000 - Put aside enough for new car. Finish the attic including a bathroom, and put solar panels on the roof. Pay off the rest of the mortgage and my student loans. The remainder goes in the kids' college funds and to various charities and political groups.
