The Student Room Group

What would you do with £100,000?

Scroll to see replies

Original post by Sternumator
Of course it is relative to earnings.

I also think it really depends on whether you take a long term or short term outlook.

If you think over the next five years, then its a lot of money because a person on average salary can double their spending.

Personally, as someone in my early 20s, I would be thinking long term. On average, I have 50 years left to live so that is only 2k more a year. That is a 8 percent increase for someone on average salary but I hope to earn more than average so its not really life changing.


I get that, but even in the long term, you need to look at the context. You're not being given an extra £2k a year - that's not the question. It's like saying "I'm only 20. I'll probably live to 80 years old, and so it's the equivalent of being given £4 each day for the next 60 years". The context is that you're being given this in a one off lump sum. If you use it properly - even just by making a safe investment such as a house - it is quite easily a life changing sum.*

Whether it's truly life changing depends on what you do with it, but for the vast majority of people, £100,000 could quite easily be a life changing amount of money.
Original post by SophieSmall
I've found lots of nice houses near me that cost between 100-180k depending.


Which city is it, if you don't mind me asking?:tongue:
I live in Manchester and for anything less than 260k you would be making a choice of either: living in a small house, but in a decent area; or living in a nicely spaced house, but in an area where it will get burgled on weekly basis, and you would be lucky not to get stabbed when going for some milk.
Original post by qwertypoiop
Which city is it, if you don't mind me asking?:tongue:
I live in Manchester and for anything less than 260k you would be making a choice of either: living in a small house, but in a decent area; or living in a nicely spaced house, but in an area where it will get burgled on weekly basis, and you would be lucky not to get stabbed when going for some milk.




I switch between Liverpool and the Wirral.

I know Liverpool quite well at this point and have lived in numerous areas of the place, and all these houses are in pretty nice areas:


http://www.zoopla.co.uk/for-sale/details/40973349?search_identifier=6107beee6ffb18b1ac8cd32429d301cf#edCKjr856YZKG0Es.97

http://www.zoopla.co.uk/for-sale/details/40912863?weekly_featured=1&utm_content=featured_listing#upQmoeHcoXjtBWXi.97

http://www.zoopla.co.uk/for-sale/details/40949592?search_identifier=1ab49343815e16f7af18f0cd86249148#31CWYtSP8XCPU8H1.97

http://www.zoopla.co.uk/for-sale/details/40483203?search_identifier=a668e32148956bd0cc3a540116b6bbbe#MPwXkqbwkY5x9ZBw.97


The thing about Liverpool is you can have some really not that nice areas, and then only 15 minute walk away you're in a safe middle class area.

Same thing with the wirral really, though the wirral is a bit more diverse I think.

Take this place, really cheap

http://www.zoopla.co.uk/for-sale/details/40976390?search_identifier=9af058fe3762534f3d43c35a5a075d66#0egchdch8ilBdMMX.97

I've been to that area, can't say anything bad about it to be honest.

Here's another:

http://www.zoopla.co.uk/for-sale/details/40820998?search_identifier=9af058fe3762534f3d43c35a5a075d66#VASxgbMbjriIkuIX.97

And then there is eastham where my nan lives, very lovely and safe area

http://www.zoopla.co.uk/for-sale/details/40841842?search_identifier=e085cec4d713af0fe2dcd35f74dbea24#qVGrsDWmoDsjlT8b.97


http://www.zoopla.co.uk/for-sale/details/39337653?search_identifier=e085cec4d713af0fe2dcd35f74dbea24#lG5B2Czowl9DV7jc.97

http://www.zoopla.co.uk/for-sale/details/38029331?search_identifier=e085cec4d713af0fe2dcd35f74dbea24#52zHV4lLlj2Gm4IF.97

http://www.zoopla.co.uk/for-sale/details/37386971?search_identifier=e085cec4d713af0fe2dcd35f74dbea24


And all the properties I listed were at least 3 bed houses too.

I think it really matters to do your research on where you're looking, I think because I know so many areas I have an advantage when looking for places. As I've often heard people dismiss places as rough or not nice when they haven't even been to them, when I've been and know full well some of the areas they're talking about are anything but rough.
To answer the question I'm not entirely sure what I'd do with it. 2 months ago I would have said buy a house, but now I'm not sure what it is I want. Familial matters make it a bit complicated, but I really to be honest want to travel indefinitely or at least for quite a long time. 100k if done properly and smartly could easily achieve that.
Original post by Burridge
I get that, but even in the long term, you need to look at the context. You're not being given an extra £2k a year - that's not the question. It's like saying "I'm only 20. I'll probably live to 80 years old, and so it's the equivalent of being given £4 each day for the next 60 years". The context is that you're being given this in a one off lump sum. If you use it properly - even just by making a safe investment such as a house - it is quite easily a life changing sum.*

Whether it's truly life changing depends on what you do with it, but for the vast majority of people, £100,000 could quite easily be a life changing amount of money.


Yes you are given it as a lump sum but it just depends how you think about it.

You could go on a bender for a week and experience things you would have never experienced otherwise. Personally, I would spend it over a much longer period even if given it as a lump sum.

I suppose we all have our own idea of what "life changing" means to us. But £4 a day in the context of lifetime earnings is not a lot to me. And because I would be thinking about it in those terms, I would not make any immediate, significant changes to my planned expenditure.
Original post by Sternumator
Yes you are given it as a lump sum but it just depends how you think about it.

You could go on a bender for a week and experience things you would have never experienced otherwise. Personally, I would spend it over a much longer period even if given it as a lump sum.

I suppose we all have our own idea of what "life changing" means to us. But £4 a day in the context of lifetime earnings is not a lot to me. And because I would be thinking about it in those terms, I would not make any immediate, significant changes to my planned expenditure.


It definitely is a matter of perspective, but I honestly think you're in a minority with the "£4 per day" view. A £100,000 lump sum is a life changing amount for the majority of people who haven't had the fortune of being surrounded by wealth their entire lives (that's not an accusation I'm levying against yourself, just a general observation). Nonetheless, I think it's only something we can both dream of! :tongue:
Original post by Burridge
It definitely is a matter of perspective, but I honestly think you're in a minority with the "£4 per day" view. A £100,000 lump sum is a life changing amount for the majority of people who haven't had the fortune of being surrounded by wealth their entire lives (that's not an accusation I'm levying against yourself, just a general observation). Nonetheless, I think it's only something we can both dream of! :tongue:


I agree. Very few people, myself included, have ever had that much money in their hand. Most people have got a whole list of things they would spend it on and would get on with spending it.

Don't get me wrong, I wouldn't turn my nose up at £4 pound a day. I just would have a different approach to spending it than the majority of people.
Reply 87
Avatar for Tomw787
Tomw787
5
Probably spend it on a flight school or a aviation college like CTC wings. :wink: :smile:
Reply 88
Avatar for ranz
ranz
5
pay for my degree
Give it to my mum.
I'd be really boring and put it all towards a deposit on a nice garden flat in an up-and-coming area of London, then rent it out whilst working abroad. Whilst investing in properly isn't the safe bet it used to be, I would like to have a bolthole in the UK.
I'd buy 100000 scratch cards.:smile:
If this money comes from winning the lottery, i will donate 3 thousand pounds to a charity. I will then treat my family by going on holiday. Then i will use the rest for investment and education. However i will definitely not blow it on expensive clothes and jewels.
Use it for bribery
Share with my family and next day go back to my job :rofl:
Original post by Pickles
Thinking about it now actually - I could start up my own business...
This. I need to get a house/blah but £100k would only just buy the house - not cover bills or anything, so I could invest the money, taking just enough out of it to help my parents pay their mortgage off, settle some debts, maybe buy a Surface Pro, and then get my novel edited properly.
Original post by Tootles
This. I need to get a house/blah but £100k would only just buy the house - not cover bills or anything, so I could invest the money, taking just enough out of it to help my parents pay their mortgage off, settle some debts, maybe buy a Surface Pro, and then get my novel edited properly.


How much does that cost approximately?

I'm nowhere near that stage yet, bit still good to know. :tongue:
Reply 97
Avatar for Goaded
Goaded
17
I've no idea. I think under the right to buy gov scheme we can get out house for 125k, so i'd give it to my mum to put towards the probably.
(edited 7 years ago)
Reply 98
Avatar for Goaded
Goaded
17
well, we have 125k ish left.
£20k for living costs at uni
£20k on a new car
£10k on a new car for my parents
£10k on holidays
£40k put away into savings, probably for a deposit on a house in about 10 years time

Quick Reply

Related discussions

Latest

Trending

Trending

Articles for you