Will Have Some Extra $... What To Do With It???

[SmackUTwice]

A year ago (on Nov 21), I lost a dear friend... like a second mom. Her will left her assests to me... however, she had some debt--shocking to us all!!! SO, I actually got nothing, lol!! But after a few months of huming and hawing on what to do, I decided to buy her house for the price of her debt (the house had to be sold)... putting together all of my savings and what her pension from work (I think it was?) gave me. I knew it would be tight... and boy was it ever!!!!! One of the BEST decisons I have made, tho. But now... I have some money coming back to me since some of the credit cards said they would drop all owed!!!!!!!

I am not one to waste money--never have been. And I don't want to waste any now... BUT I WANT TO TREAT MYSELF. Like seriously. I do. So I guess what I am asking is what should I do?! lol I spurged on a cheap cruise in January 2010 (payed for before friend passed away)... and THAT was pretty sweet! So thinking another cruise... or travelling elsewhere. I find it SO SO difficult to splurge and lay down a bunch of money at once. Just want some ideas from SC on what I should do??? Come to know and love ya'll!!! We like a family.

OF COURSE I will be putting lots into savings and strategically put to use! But it's time to splurge, on me... it just is!!

IDEAS, please......... GO!!!!!!!!!

[Sally888]

Cant be frugal all the time IMO you only live once.

Why not go to a 5 star resort for a week? I went to one last year and it was awesome! Need new appliances? Central air?

[c_mcarthur]

hmmm perhaps some shopping?
I LOVE to shop so whenever i have extra money thats what i do!
New clothes

or if your looking at the bigger picture take a trip somewhere youve never been before.
laying down big chunks of money can be worth it , like how i went to Los Angeles back in september... seemed like alot of money but in the end totally worth it.
especially since I got to see hollywood and meet some stars

[win-star]

Go on a cruise some where warm, on that cruise get a spa, massage and relax in the sun on deck or go on vacation somewhere you really really wanted to go before

or upgrade house?

[SmackUTwice]

Cant be frugal all the time IMO you only live once.

Why not go to a 5 star resort for a week? I went to one last year and it was awesome! Need new appliances? Central air?

Ooooooooo. I like. I want to save buying new appliances for my next house... altho, not sure how much longer this fridge will last, ha!

hmmm perhaps some shopping?
I LOVE to shop so whenever i have extra money thats what i do!
New clothes

or if your looking at the bigger picture take a trip somewhere youve never been before.
laying down big chunks of money can be worth it , like how i went to Los Angeles back in september... seemed like alot of money but in the end totally worth it.
especially since I got to see hollywood and meet some stars

Yes, bigger picture like a trip, altho... I always say I need more jeans! I went to LA/Hollywood in November 2006... I didn't meet or see a single famous person!!! I was bummed, lol!

Go on a cruise some where warm, on that cruise get a spa, massage and relax in the sun on deck or go on vacation somewhere you really really wanted to go before

or upgrade house?

Upgrade house is out--not that much money. But this I hope to do eventually...

And yes, the cruise is in the running... maybe the Great Big Sea/Barenaked Ladies one in January 2011!!! However, I may want something more relaxing, lmao!

Thanks for the ideas... see, talking about this helps me decide! Definetly getting some jeans!

[Litesandsirens911]

I am confused...because in Canada, the law states if you designate a person as your beneficiary, then that person gets to keep everything left to them (provided they own it) and all others who make claim to that money (Creditors) cannot get the money from you because they are SOL...
however when you designate your ESTATE as a beneficiary in your will, then all creditors taxes, etc have claim to that money first...and you get whatever is left over...

Anyways I would buy myself something that I know the person whom left me the money would want me to enjoy...go on a nice holiday somewhere warm

[Sally888]

I was wondering that too lites, but I didnt know how to word it.

[Litesandsirens911]

I was wondering that too lites, but I didnt know how to word it.

This was a huge part of my Canadian Insurance course that I had to take , and a huge part of that was death and taxes and debt, as well as beneficiaries and estate laws....that's why I am wondering if the OP was contacted by the creditors and gave them what they wanted, or if it was left to the estate...

Lesson here people, always leave a PERSON or CHARITY as your designated beneficiary so the money and assets are not taxed or used to pay debt by the deceased...

[SmackUTwice]

I am confused...because in Canada, the law states if you designate a person as your beneficiary, then that person gets to keep everything left to them (provided they own it) and all others who make claim to that money (Creditors) cannot get the money from you because they are SOL...
however when you designate your ESTATE as a beneficiary in your will, then all creditors taxes, etc have claim to that money first...and you get whatever is left over...

Anyways I would buy myself something that I know the person whom left me the money would want me to enjoy...go on a nice holiday somewhere warm

I was pretty confused in the beginning as well. Beyond shocked she had debt. It made no sense--it still doesn't. Hate not knowing!!

All I know is she had thousands of money owed on credit cards. Because the estate had money (house, car), they are legally due for their money--so I have come to understand. And then anything left over goes to the beneficiary.

This friend was pretty stoked I was going on a cruise... she was proud!! I told her I'd show her my photos after... that didn't happen, hehe...

[SmackUTwice]

This was a huge part of my Canadian Insurance course that I had to take , and a huge part of that was death and taxes and debt, as well as beneficiaries and estate laws....that's why I am wondering if the OP was contacted by the creditors and gave them what they wanted, or if it was left to the estate...

Lesson here people, always leave a PERSON or CHARITY as your designated beneficiary so the money and assets are not taxed or used to pay debt by the deceased...

It's all being handled with the estate. The debt has nothing to do with me. Never did. And her will stated my name... and if it couldn't be me, it was my mom... and then a charity... so she must've learnt that lesson somewhere along the lines.

But the lawyer is saying the credit cards have to be payed IF they want it--one said no and the other ones did not respond, hmm.

[Litesandsirens911]

oh okay, so it looks like she left everything to her estate, and named you in her will...now I understand..if she HAD just named you as the beneficiary and NOT her estate, you would have had all the $$...but alot of people don't know that unfortunately.
I am happy your friend thought of you and left you in her will, that was so thoughtful, you truly deserve it ...enjoy it

[SmackUTwice]

oh okay, so it looks like she left everything to her estate, and named you in her will...now I understand..if she HAD just named you as the beneficiary and NOT her estate, you would have had all the $$...but alot of people don't know that unfortunately.
I am happy your friend thought of you and left you in her will, that was so thoughtful, you truly deserve it ...enjoy it

Aww, thank you.

You know your stuff!! A year later and I still try to comprehend it all, lol!!

[Andit]

Black Friday`s coming up quick - how about a shopping trip in the US? Or a weekend in Vegas? Lots of shows to see, you don`t even need to gamble. New electronics (tv, computer, camera, etc)? New snow tires for the car?

Lots of ways to spend money & have a bit of fun. Whatever you decide, I hope you enjoy yourself. I`m sure that`s what your friend would want.

[Mia001]

you know that song ?..."Je voudrais voir New-York"....since i saw Home Alone 2....so especially at Christmas time....but it's just me....and whatever you decide , enjoy yourself !

[Mia001]

DH Grandmother used to say " Souvenirs is the bread we eat when the nice day's feast has ended " ...so i would go for something that would make you lots of them.....P.S. meaning....when you're old and are no longer able to do what you want, it's good to have great things to remember