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[–] 172 points 1 year ago (9 children)
  • [–] 34 points 1 year ago (2 children)

    Same that would pay off all my debt.

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  • [–] [S] 14 points 1 year ago (4 children)

    Out of curiosity, how low would that dollar amount have to be for you to opt to spend it on something else? Would it still go to debt if it was only 1,000 or something?

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  • [–] 31 points 1 year ago

    It’s probably highly specific to how much money somebody makes. If my monthly paycheck is $2000, and you give me $1000, I would use that to get ahead by a half a month. If I make $10k a month and you give me $1000, getting ahead by a tenth of a month won’t do much. So hookers and blow all day.

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  • [–] 7 points 1 year ago*

    I guess if it was a few hundred, I would just put it in the bank with the rest of my money where it would go towards food, bills, and any other day to day expenses. Probably anything over $1000 would go directly towards debt.

    EDIT: I forgot about the by the end of the day rule. I can't just save it for later. We'd do a Sam's club run and put the rest towards a bill.

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  • [–] 1 point 1 year ago

    I think 1000 or 2000 for me. I know it's optimal to put it on my mortgage but that's an amount I would use the excuse of "having to spend it" to spend it on myself. 20k in cleared debt is like 1.4k yearly expense reduced which really moves the needle. If you pay off 1k a month you're effectively increasing the payoff rate by 12%.

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  • [–] 79 points 1 year ago (9 children)

    I'll buy $20,000 of gold. :3

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  • [–] 25 points 1 year ago (8 children)

    i ran the numbers, and i was surprised to find that $20K would get you about 5 gold coins.

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  • [–] 11 points 1 year ago* (last edited 1 year ago) (7 children)

    How big are the coins?

    *Diameter:1.287 inches (32.70 mm) for 1 ounce coin which is a little less than $5k

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  • [–] 15 points 1 year ago (4 children)

    You can add value by minting them with a Labubu relief.

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  • [–] 6 points 1 year ago (3 children)

    What if I just melted them into some dubai chocolate and ate it instead? /s

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  • [–] 1 point 1 year ago (2 children)

    Totally could, but you'd basically just be throwing it in the trash. Big sad, much depress.

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  • [–] 39 points 1 year ago (5 children)

    Two chicks at the same time

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  • [–] 37 points 1 year ago* (2 children)

    Yeah, paying off loans.

    Alternatively and less boringly, upgrade my desktop and peripherals, new laptop for me and my wife, get nice homelab/server stuff, smart home stuff/sensors, surround sound system for my family room and office/gaming room, proper furniture for my office, new matresses for almost every bed in the house. That would most likely eat most of it, give or take ~$2,000.

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  • [–] 34 points 1 year ago (5 children)

    Like 15 abortions. God I love abortions.

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  • [–] 4 points 1 year ago (2 children)

    I do not understand that, in my country abortions are free

    (ok, not actually free. You need to pay 15 euro for the blood test, a 30 euro tax, 2 euro for the hospital parking fee and around 10 euro to buy the painkiller or antibiotics after the operation)

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  • [–] 4 points 1 year ago (1 child)

    Dude, I wish I lived in a civilized country. My cancer treatment would have cost somewhere in the range of $5 million without insurance. Healthcare is a human right

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  • [–] 2 points 1 year ago*

    Dude, I just got the post-exposure rabies vaccine. Was four trips to the ER at $125 USD co-pay a pop... however, without insurance, I learned it can be as much as like $15k if you don't qualify for assistance and/or Medicaid.

    We really need to take to the streets.

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  • [–] 28 points 1 year ago (3 children)

    Debt, then idk. Maybe a burger or something?

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  • [–] 8 points 1 year ago (1 child)

    A quintessentially American scene I want to see is, a guy wins a flamboyantly decorated game show to the applause of hundreds of thousands of people. The host leans in to ask him what he’s going to spend the money on. He replies all he can do with it is pay off half of his grandmother’s medical debt, and then go to his night shift to work on paying for the other half.

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  • Many years ago, I worked at a fish market and one of the guys who sold us fish during the summer won a big fishing tournament one year where he got a brand new truck and a bunch of money. When they asked him what he was going to do with the money, he said, "Keep fishing until it's all gone."

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  • [–] 26 points 1 year ago (1 child)

    The boring but truthful answers of "I have bills that can easily soak it all up without an issue (mortgage, student loans, car, etc)" have been said, so assuming I cannot use it to repay any debts, and I have to make actual new purchases, I'd buy things that I could pay for now but enjoy for a long time. 3-year VPN plan, multi-year phone plan, gift cards to restaurants (especially with a bulk discount like at a Costco), etc. Upgrade my cockatiels to a cage that goes wall to wall with real plants hanging out and all that. The little things that cost enough that I don't get them but not enough to be a life-changer. Probably be a good amount left, I'd get a moped or electric bike of some kind, and I'd upgrade my laptop to a stupid powerful one.

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  • [–] 3 points 1 year ago

    Yeah, they sound like good things to get :)

    I'd do something quite similar, under the same assumptions, but would split the money four ways with my wife, kid, and house stuff. We'd all get decent laptops and computers and upgrade the server and backups. I need a new phone, so that would be sorted.

    Selfishly, I'd get a new to me motorbike and get the current one serviced properly. Neither would cost too much, but they're things that are not currently important enough to spend on.

    I'd pay a cleaning company for a few days of cleaning and sorting, as we all have either ADHD or something close, and haven't been able to get our shit together for long enough to make a difference 🫣

    I'd like to get the garage insulated, as it's part of the house and can be cold, and get the garden tidied enough that we can keep it under control.

    I've probably overspent, but if not, I'd take the family and some close friends out for a nice meal. We haven't all been together for a while, and there's a really nice but reasonably priced restaurant nearby 🙂

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  • [–] 25 points 1 year ago

    Putting it toward my mortgage payment.

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  • [–] 23 points 1 year ago (1 child)

    Its going on the car loan. The whole amount.

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  • [–] 21 points 1 year ago (1 child)

    I'd take it all to the casino and bet it all on one game. Walk out ten minutes later with 100k or the nothing I'd have at the end of the day anyway.

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  • [–] 41 points 1 year ago (4 children)

    Laser hair removal, car, estrogen

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  • [–] 19 points 1 year ago (4 children)

    can I just throw it on my mortgage?

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  • [–] 7 points 1 year ago (2 children)

    Seriously this. Like imagine taking a chunk out of principal like that, you would save thousands in interest!!!

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  • [–] 7 points 1 year ago (1 child)

    I actually did do that, the advantage of having rich grandparents. It's amazing how once you get a bit of money the system just throws advantages at you. Capitalism really is broken.

    Because I was able to get together enough money to be able to buy a house and put down quite a lot in collateral, my mortgage repayments aren't very much, considerably less than I was paying monthly in rent, even when you take into account that the rent included water bills.

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  • [–] 37 points 1 year ago (3 children)
  • [–] 13 points 1 year ago (2 children)

    Better answer than "debt" unless that debt is at a high interest rate.

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  • [–] 9 points 1 year ago* (1 child)

    Don't discount paying off a modest 6-7% car or student loan. That's a guaranteed and tax free return on investment. Historically the stock market returns about a 7% annual ROI. Not having a payment every month can make a big difference for liquidity and peace of mind

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  • [–] 9 points 1 year ago*

    I would count that as "high," especially when, as you suggest, you consider risk-adjusted rates.

    Basically, just don't prematurely pay off your mortgage if you have one of those 3% ones from a decade ago.

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  • [–] 18 points 1 year ago (4 children)

    Buy here pay here used car lot, pay all cash for a good Toyota or Honda on the spot, immediately turn it back around and post for private party sale, whenever it sells I get the cash scot free and can turn it back into a real investment

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  • [–] 6 points 1 year ago (3 children)

    You could also just buy a simple physical asset, like gold or silver.

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  • [–] 17 points 1 year ago (6 children)

    Boring answer but with the 1974 built house I have that 20k disappears into the renovations void.

    Take your pick: furnace, central A/C, driveway repairs.

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  • [–] 7 points 1 year ago (5 children)

    I see your 1974 and raise you a 1931

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  • [–] 4 points 1 year ago (3 children)

    My rented house was built around 1900 and I can see into the unfinished basement through a small hole in the floor by the front door. I'd still use that 20k for a down payment to purchase it.

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  • [–] 3 points 1 year ago (2 children)

    I'd buy it as well. That 1900 house - AND the 1931 house were built with virgin lumber and chances are no drywall, but plaster and lath walls. Solid construction and NO modern building supplies outgassing chemicals.

    There MIGHT be lead paint and asbestos pipe lagging insulation, but both can be dealt with in a pinch by encapsulation until you get the funds to have removal.

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  • [–] 1 point 1 year ago* (1 child)

    Yep it's all lath. Can be a bitch but it literally took a 12ga buckshot blast with no damage to anything on the other side.

    Thick solid wood siding too.

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  • [–] 2 points 1 year ago*

    That is SO glorious.

    I've been in the trades since 1980, and I won't have a house built after the mid-80's. That's when the last of the mature timber lumber supply ran out. Now homes are built with selectively bred loblolly pine that gets 30 years worth of growth in 20 and it's light like balsa. It's garbage and part of why so many developments and new homes put up since the mid-90's are now falling apart. I see SO much sheetrock slips, cracks, nail pops and settling it's scary.

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  • [–] 16 points 1 year ago (6 children)

    If you're american, probably pay 10% of your medical debt or some shit like that.

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  • [–] 7 points 1 year ago (5 children)

    Or just refuse to pay it.

    What are they gonna do? Reposess your organs?

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  • [–] 1 point 1 year ago (2 children)

    Zydrate comes in a little glass vial . . .

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  • [–] 14 points 1 year ago (2 children)

    I've learned reading these comments that way too many people don't know just how little 20k is.

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  • [–] 14 points 1 year ago (3 children)
  • [–] 13 points 1 year ago

    Put it on my mortgage.

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  • [–] 12 points 1 year ago* (last edited 1 year ago) (1 child)

    3921 copies of Brewster's Millions on DVD.

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  • [–] 12 points 1 year ago (1 child)

    I have a car dealership right next to my office. And I'd really love to retire my 20yo car

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  • [–] 11 points 1 year ago

    Im a project car guy, can I add funds? Seriously, daddy needs a new engine.

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  • [–] 10 points 1 year ago (4 children)

    I volunteer at some food pantries, and they could really use the help.

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  • [–] 2 points 1 year ago (3 children)

    Mood. I reverse psychologized myself into taking a shift as a dishwasher on the same principle. It was at a bar and I made bank from the shift. Definitely interested on climbing the ladder in the future

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  • [–] 1 point 1 year ago (2 children)

    I'm not sure I follow. You took a dishwasher shift as an act of charity?

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  • [–] 2 points 1 year ago* (1 child)

    Hey don't harsh my mood. I was trying to resemble some good volunteer work I did in the past to push me out of my comfort zone and show up to my first job in months, even if it was just a dishwasher job. I have severe social anxiety and general anxiety so I was psyching myself up to it. I was working at a very popular bakery for a long time a year ago and quit because my manager and upper management were assholes. I kinda got jaded against people facing jobs and shitty management. I requested a trial shift at a gay bar last week and they really wanted it to work out for me, and the managers were also nice. I also got paid the same money working Back of House as I did in front of house at that awful bakery, consisting of base pay ($13) and a few extra dollars from tips. I'm thinking I'll move from BOH to FOH in the future when openings pop up. Sorry to rant

    I moved to a city and haven't found food kitchens in the area to volunteer at, which is something I like to do

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