I am getting my tax refund in a few days, and its quite substantial. $3,500. Woot. Now my mind begins to wonder what should i do with it? Here are some of the suggestions

1) Downpayment on a new car: Mine is 9years old, still goes well, has a few niggly issues but nothing bad.

2) purchase a home studio lighting kit and backdrops for portraits and what not

3) update the computer

4) save it for a trip to melbourne for avalon next year

5) treat the girlfriend to an expensive restaurant and hotel

6) jewellery for said girlfriend(her idea)

so if you had $3,500 extra to play with what would you do?

Fozzer wrote on Aug 10^th, 2010 at 5:26am:

In the current state of the economy I'm not sure that's the best idea.

You might as well keep it in a sock under the bed or give it to me. I'll find a good use for it although it might not be too sensible.

Gold (actually in your possesion, not part of a 'paper' investment portfilio) is a good place to 'preserve' money in the event of a currency collapse (quite likely)... but it's a poor investment. Even if we suffer through some hyper-inflation (inevitable), you'd have to find a way to parcel out the gold for daily expenses... and even that means converting it into inflation-based currency.

Saving the money right now, in  a 'normal' savings account, leaves it even more vulnerable to hyper-inflation.

In today's creepy economy ? ... spend it while it can still buy something.. preferably on something 'durable', that you can put to productive use.. like land,  a car, or firearm (and ammo) 

I'll tell you what terrifies me, is the ever increasing cost of disposal of my Mortal Remains when I finally pop my Clogs, so instead of spending my cash on toys, etc, now, I tend to keep it accumulating in my Bank Account for that approaching day!

Paul... ...!

By the time I finally expire I should have accumulated enough money to build a marble Mausoleum, with two Lions guarding the entrance!... .... ...!

(Photo reluctantly supplied by my remaining Family)... ...!

.... ... ... ...!

Bank it, forget about it. The present economic climate it could come in handy later.

Matt

Remember... With 5 or 6, they'll know that you're willing to spend money. What may start as just a few dollars will turn into a lot of money at some point 

$3500 seems a lot just to spend for home studio lighting. AlienBees have good quality lights for around $250 for a 400W flash unit, which should be plenty. 2 of those, maybe 3, and that should be all you need. And light stands, controller units, remotes, etc. You shouldn't need to spend more than $1500 on that studio in total. I'm still happy using Speedlites.


That could leave $500 towards your computer, $1000 towards a holiday and up to $500 to give in gifts. Or jumble around and invest some in the car.

machineman9 wrote on Aug 10^th, 2010 at 11:15am:


...and then all the money will be gone...and you are back into abject poverty...again....like you were before!.... ....!

I like to keep some money put aside, for a rainy day...

.....when the roof suddenly collapses!... .... ....!

Paul....Be prepared for expensive disasters!... ... ....!

...there are rare occasions when I appear to be overwhelmingly sensible.... ....make the most of it... ... ...!

Fozzer wrote on Aug 10^th, 2010 at 11:41am:

I'm 17...

...It's my responsibility to push silly ideas and 'live for the moment'