Angel Dust on 14/12/2007 at 03:52
Quote Posted by jay pettitt
Please don't waste it on a broom broom, a PC that will play Crysis or other meaningless tatt from the shops. £15k is for investing in a home, or education or doing something life changing.
I think it's OK to spend some of it though. I inherited $20,000 about 3 years ago and with some of it I bought a PC and some music gear. I still had plenty left ($15,000) which I stuck in a long-term deposit and have just used to get my first house (The mortagage payment start the week after Christmas, how's that for a merry christmas!).
So as long as you are sensible it is fine to get a few things with it. Another suggestion if you have any debt, like bank loans etc it might be worth paying them off. Althought I'm guessing you probably don't .
Nicker on 14/12/2007 at 06:56
Get yourself an independent (of your trustee) financial adviser to monitor the trust fund and its administration, then... um... advise you.
PS: Agreeing with those who said 'don't piss it away on toys - invest and forget'.
Ulukai on 14/12/2007 at 13:00
Invest at least some of it in an ISA (or a mini cash ISA if you want it to be more accessible), so the taxman doesn't get his grubby paws on your interest.
AxTng1 on 14/12/2007 at 17:38
Yeah, ISA looked like the way to go with at least some of it. I'm thinking I should invest £10k, and not piss away the rest, but... have it available. Also the job seeker people tell me that I need a car to get a job. It wasn't my idea.
quinch on 14/12/2007 at 18:01
I wouldn't be too hasty in listening to them if I were you. I passed my driving test when I was 31 to increase my job opportunities, or so i thought. I have driven only a handful of times in the intervening 8 years, working in three different towns for several companies.
I have no particular interest in driving mind you which means I avoid anything that might involve driving, but I haven't found it much of a handicap.
Shug on 15/12/2007 at 07:56
PC upgrade/remake won't hurt you too much, but a car will chew a fair amount, comes with additional costs and loses its value fairly quickly
N'Al on 15/12/2007 at 08:29
Plus, the most expensive part of a car is usually its running costs - insurance, tax, petrol, maintenance, etc. The initial downpayment you make on it might seem a lot, but only makes up a small fraction of the car's total costs in the end.
Fingernail on 15/12/2007 at 16:48
I'm not going to offer any advice other than save most of it.
Personally, though, I'd get a new guitar, some other music kit, to fund things like rehearsal and studio time, but seriously I'd try and make the most of saving in order to offset what will be my huge student debt in two years time (around £30k at least, probably).
Tocky on 15/12/2007 at 22:19
Depends about the car. I used to buy old GTO convertables and sell them a few years later for double the money. You have to have a feel for what's going to go up though. These days I couldn't buy a damn thing and expect it would go up. I suppose land still will but you have to get it at the right place and price.
Matthew on 16/12/2007 at 19:07
Not so much at the moment, especially where I am. We're waiting with baited breath for the slump.
