Board 8 > I have an extra grand this month because I paid my mortgage twice last month

(+) Yeah! (+)

Thanks to my awful mortgage site, I ended up paying my mortgage twice last month. Instead of fixing the mistake I decided to just live on beans and rice and have 0 fun last month so that this month I could go HOG WILD and use that money to invest in my house or overall personal value.

Which of these EXCITING poll options seems like it will be a "hoot and half DAB" as the kids say?
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Man you guys are more both boring and conservative than me
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Invest or pay off mortgage/debt some is the best answers for maximizing your money.

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Save it if your savings are light or pay toward the mortgage principle IMHO - getting that taken care of sooner is the biggest improvement you could make in your life by lightyears.
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as a fellow home owner I voted Actual waterproof flooring in my bathroom
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Wait, what kind of flooring do you have in your bathroom?
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Do you not have any savings? Save the money so next time this happens you aren't fucked
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Pre-order five Switch Lites.
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KingButz posted...

Do you not have any savings? Save the money so next time this happens you aren't fucked

Screw that. I suggest something fun, like cocaine. Get a bunch of coke, some friends, and go on a crazy weekend bender

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Ask yourself a few questions:
1. Do you NEED any of the home improvements, or are they simply wants?
2. How badly do you need a vacation or some sort of respite?
3. How much money do you have saved at present?
4. How much do you have left to pay off on your mortgage?

What you do with the money is up to you. Write all these options out. Determine what's the best use.
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Buy a new water heater, if that's something you've been needing to do. If you're in the northern hemisphere, then this is the ideal time to do it, and not, say, middle of January when it goes explodey.

With the water heater, it's basically: "Do I need this now? Is my old one about to explode and cause $5,000 in damages that I can't pay? Is replacing it going to save me more money on electricity than switching my car insurance to GEICO would?" Weighting those answers is important. It needs to be thought of as an investment that will warrant more peace of mind. And if he's going to do this, yes, absolutely he should do it in the summer.

Same goes for the waterproof flooring. Is that going to save you money from water damage? How urgent is that? And for the garage loft... is that necessary for additional living space, or can he make do more easily now? That seems more like a luxury than the prior two, however.

There's also the principle payment on the mortgage. Being ahead of schedule means less interest which means more money later.

Given his options, it's all what's most needed for his sanity. A vacation becomes necessary if one hasn't had a change of scenery in too long, but might have to take a back seat if there's a good chance he'll come home to an exploded water heater flooding the basement.
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KingButz posted...

Do you not have any savings? Save the money so next time this happens you aren't fucked

Yeah of course I have savings, otherwise I would have been on the phone crying to my mortgage company the second I noticed this.

The only reason I spent no money was a fun personal challenge and also to have a fun month this month
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Oh that's weird
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A new water heater is def the least exciting of these options, since my old one works "well enough" for a single guy who lives alone and doesnt mind cold water halfway through a shower. But you're all right, it probably is the best time to take care of that.
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Anyone have a tankless water heater? I've been thinking of upgrading to one, but I'm not convinced they can install it without drilling through the slab.
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Bitcoin is looking like a really great long-term investment again. Recession proof!
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SantaRPidgey posted...

A new water heater is def the least exciting of these options, since my old one works "well enough" for a single guy who lives alone and doesnt mind cold water halfway through a shower. But you're all right, it probably is the best time to take care of that.

I was going to vote water heater (cold showers are the worst imooooo) but since you don't mind I voted veggie garden instead

"would you like some tomatoes" quality pickup line
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Nelson_Mandela posted...

Bitcoin is looking like a really great long-term investment again. Recession proof!

Pshh bitcoin is sooo 2016

Gotta get on this etherum train
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