BillShrink Giving Away $2,500 to Wise Bread Readers
Editor's Note: Contest has ended. Click here to see list of winners.
BillShrink, a free website that gives personalized money-saving recommendations on everyday bills, is giving away $2,500 to Wise Bread readers!
In addition to the contest, BillShrink CEO Peter Pham also shared some great savings tips later in this post. But first, the contest!
Blog Comment Contest: $2,000
Prize: 1 winner of $2,000. BillShrink representatives will pick their favorite response.
How to Enter
BillShrink wants to give you $2,000 to start your New Year with a money make over.
Simply leave a comment below and tell us in 2-3 sentences about what you’d do with $2,000? The best response takes the grand prize.
Would the responsible you pay down your credit card debt? Put the money in savings? Buy low in the stock market? Or start a college fund for your toddler? Or … would rowdy you blow it on a ticket to Antigua? Or buy 14 bottles of Dom Perignon? Or get a flat screen TV or a new computer? BillShrink CEO Peter Pham also talks about how he would spend $2,000. You might want to check out Peter's response get some inspiration.
Don't forget to enter your email address while leaving a comment. We can't contact you if you don't leave an email address!
Twitter Contest: $250
Prize: 1 winner of $250. Randomly selected.
How to Enter
Simply tweet one of these messages:
- RT this for chance to win $250 @WiseBread http://bit.ly/4t0sDu
- Win $2500 at @WiseBread courtesy of @BillShrink http://bit.ly/4t0sDu
Don't forget to follow us on Twitter. It makes it easier for us to message you when you win.
BillShrink Facebook Contest: $250
Prize: 1 winner of $250. BillShrink will randomly select one of their new fans following them on Facebook.
How to Enter
Visit BillShrink's Facebook fan page and add yourself as a fan. That's it!
(While you're in Facebook, don't forget to check out Wise Bread's fan page as well.)
Rules For All Three Contests
The Blog Comment, Twitter, and Facebook contests all end at midnight EST 1/08/10. Winners will be announced on this post on 1/13/10. You can enter all 3 contests, but you can only win once. US residents only, must be 18 or over, void where prohibited (see official contest rules).
Interview With Peter Pham
According to your website, BillShrink has identified more than $1 billion in savings for more than 1 million people this year. Why are so many people overpaying on their bills?
Wireless plan and credit cards are inherently complex. You have in- and out-network calling, overage fees, variable interest rates, annual fees – it’s really too much for a person to track. Each wireless plan, each credit card, markets their plans with different language, gives you options over different periods of time, and has different offerings, so it’s nearly impossible to make an apples-to-apples comparison. BillShrink will do all that homework for you using technology that analyzes all of the fine print and tracks the best options on the market so you don’t have to.
Another reason people are overpaying is that options are constantly changing. Credit cards, banks and wireless companies are competing for your business and continue to make new offers. That’s why we’ve also built into BillShrink the ability to get alerts when a better deal comes along. We’ll take into account all things like wireless termination fees, so you can see if you will really save more money in the long run.
What was the best piece of budgeting advice you got or gave in 2009?
The best piece of advice I gave was to ignore those seeming appealing in-store credit card offers. Salespeople entice you at the register with an additional 10-30% off your purchase and 0% APR promises. But that impulse decision could cost you in the long run because after introductory rates, store credit cards are have interest rates that are generally higher than standard credit cards. Not to mention that they are notoriously strict about late fees, which increase the rate dramatically. All this and that’s not all, when you apply for a new card, an inquiry is made to the credit bureau, which may slightly lower your credit score.
How do you think people can save money on the necessities like gas and cell phones? Is there a way to cut back without making sacrifices?
Absolutely! Most people don’t alter their plan to better fit their usage, but like most, you may have selected a wireless package a year ago that isn’t the right plan for you now. Most people are so afraid of overage charges so they buy tons of minutes or get the unlimited plans that they may not really need.
BillShrink assesses what you need and on average, we save people $300 on their phone bill, without them having to sacrifice any minutes or plan options. For gas, many people by habit go to the same gas station. But, if you can drive the same distance to a station that costs $0.50 less per gallon of gas, that could be a savings of $130 a year.
Do you think frugality will end when the economy starts to pick up?
I think frugality is here to stay, at least I hope so. While this economically turbulent year forced many to change their spending behaviors, I think people will choose to remain frugal as it feels good to be wise about your dollars. In particular, if people feel they are getting the same services for less money, the question simply is ‘why would I pay more than I need to?’ So maybe ‘Frugal is the new black!’
My weakness is food; I’m a culinary snob. I’d consider blowing it on a trip to NY and have dinner with my wife at Masa, where the pre-fix menu is $500/person.
Never mind all the bill shrinking -- what do you think is worth paying top dollar for?
Vacations. When I get the rare chance to go on holiday with my family, I love a fine hotel with great service, excellent restaurants, and a gorgeous pool. That comes with a price tag, but the rest and luxury is worth it!
Can the consumers be sure that your recommendations are objective?
BillShrink is independent and unbiased. This means that we present the best options to users and have no preferential display of any wireless, credit card, savings or gas recommendations. Our rankings are calculated by complex algorithms that match your unique spending habits with all the available plans in the marketplace, so in essence, we’re your personal financial matchmaker. We think our best value comes in continuing to alert you when a better deal comes along that could save you even more money.
So far your focus is on cell phones, credit cards, and gas prices. But couldn't you expand this to a lot more goods and services? What are your plans for the future?
We intend to keep saving people throughout 2010 and beyond. We’ll add services like TV and Internet services, as well as a host of other bills so that we’ll save Americans another $1 billion next year.
Update: Announcing the Winners!
Blog Comment $2,000 Winner
Winner: Joe Wilson
I would use the money to help pay off my wife's battle with breast cancer. I am on a fixed income (disabled) 64 years old. my wife has to work for health ins due to my sickness 20 years ago. she is a 62 year old pharmacy tech and works 40 hrs a week. we are staying even due to our good credit rating (796) but I have a wad of debt. paying off the hospital and certain other tests she has undergone will allow us to continue with her prescribed medical needs this coming year using Canada to buy certain drugs due to pricing . thank you for your consideration joe and kathy Wilson
Jenny from BillShrink explains why this was her favorite:
Whew! Wonderful to see 1053 respondents for the contest. We read some funny and some very heartbreaking stories about people who really could use the $2000 cash. We liked the below entry from Joe & Kathy Wilson. We appreciated that Kathy keeps a full-time job and that these are hard-working people who have tried to maintain good credit, but have medical expenses that are beyond their means. Again, this was a hard choice and... well, we had a few runner-ups that we really liked as well.
Twitter Contest $250 Winner:
Winner: MMC67. Thank you Michelle Carter for tweeting about our contest!
Facebook Winner:
Anna Labbe who wrote:
Just discovered billshrink! hope to put it to good use for a financially better 2010! Winning that $2000.00 would be great too! How about an article on how to get your spouse on the same "page"with savings and finance!! Thanks!
Thank you everyone for participating in the contest! We'll be contacting each winner directly via email, Twitter, and Facebook. If you don't respond within 3 business days we reserve the right to give the prizes to an alternate winner.
Tagged: Giveaways
Disclaimer: The links and mentions on this site may be affiliate links. But they do not affect the actual opinions and recommendations of the authors.
Wise Bread is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.com.
$2000 compounded over 55 years at 7% is about 83K ... a great start on my daughter's retirement fund.
I would put $400 into each of my three children's college funds, give $400 to a charity called So Others Might Eat (SOME), and save the last $400 to start a vacation fund for a trip to Germany. (Our 4-year-old wants to see where he was born!)
I'm about $2k from the end of my private student loans. I'd love to get them paid off the rest of the way, then stick the extra $500 in my emergency fund.
I would save 1000 and split the rest to 1) fix my car and 2) splurge on a weekend getaway to ny or new orleans :-)
I would put it away to help pay for a long-time dream of mine. After seven years of not having enough confidence, I have returned to school to get my Master's degree and, hopefully, eventually my PhD. My dream is to become a college professor. I would use the the money to help fund this endeavor to start next fall.
Two thousand dollars; that's a lot of dough!
I think that I would use it to go and see some snow.
I bet Colorado is the perfect place to go!
-Heather, N.C.
I would pay off the medical bills that we accumulated between our son's birth and his surgery for Pyloric Stenosis. The little bit that would be left over would go into our house-buying fund.
Paid for braces for both daughters out of pocket. Just when it's Mom turn to go to the dentist, Hubby loses his job. Naturally, we have no dental insurance, so my tooth has to pick now to start hurting. I would use this money for an exam and a possible root canal.
I would use my winnings for the following, and in order: $486 would go towards starting my new online business in terms of initial testing, advertising, buying website, and manufacturing so I can make more money; $238 would go towards a digital camcorder for recording purposes in shooting some footage for online video, etc. since I don't have one; $19 for a book (2nd edition 4-hour work week) I've been wanting to read; $983 to take my immigrant parents to Disney World Animal Kingdom for the first time since they love watching animals and haven't had fun for a looong time; $104 to help my parents pay some of their bills; and $84 to take my friend and I to the Japanese steak house Benihana for birthday dinner fun. Then I would salvage the remaining $86 to finally add towards my Roth IRA which I haven't done in 3 years (that or put it in my Smartypig savings).
I would use half of the $2,000 and invest in a high-yield fund; the other half I would use on a month-long vacation in an economical yet exotic locale, such as Thailand.
I would take $500 and put it towards my schools loans as I am still in school this wouldn’t be a bad head start to getting accustomed to.
I would spend $500 on shopping for one because it would be fun and two, anybody who says they wouldn’t spend any of this money on some kind of personal indulgence is a fib. However, I wouldn’t start shopping without first checking out fabulous sites such as wisebread and retailmenot to be aware of some possible specials and promotions for the stores that I would indulge at.
I would spend another $500 on getting ahead on some bills such as car insurance and phone bills.
A fourth $500 I would spend on friends and family i.e. taking them out to dinner buying my hubby some history books he has been wanting (you would have no idea how pricey some of those are!)
Finally, I would put the remaining $500 into savings just in case. Cheers!
I would pay off my credit cards and start the New Year being debt free!
My husband and I recently bought a house, and the pleasures of homeownership have certainly come with it. In 5 months, we've already had to put a new roof on and insulate, and soon we'll be needing a new water heater. Just this weekend we had a pipe burst, so we could definitely use an extra $2k to pay for our happy little home! :)
I would pay off the final one thousand of my student loans. I would then put whats left in my trading account that I had to clean out to pay bills...after buying myself something nice of course!
Last week I found out I'm getting laid off soon. It's not very sexy, but I'd use the $2000 to pay for COBRA and internet access until I find a new job.
I think I would spread it over a period of time and take our son on some trips to historical/fun/educational places. We'd have a bunch of family memories at the end and would take plenty of photos. I would certainly enjoy that time after being in nursing school the past two years.
My husband and I sacrifice luxuries to stick to our savings plan, so an extra $2000 would be used to replace some of those sacrifices -- probably travel, as that is our most often unfulfilled passion!
We have no savings! This would give us a nice jump start!
As my wife and have not been to find a job,Iwould use the money to help heat our home thi winter.
Right now I am a tutor and I want to become a teacher. I would use the $2,000 to help get my teaching certification and possibly my masters.
If I didn't get my masters, I would probably go on a shopping spree for cooking supplies and appliances I don't strictly need... it's been a while since I let myself splurge.
I would put the money in savings and work towards having a good down payment for a car.
i am currently 2 months behind on my house payment so i would use this money to get caught up!
I've been a single mom most of my life - - the past 17 years. My youngest is now 19 and starting to get out on his own and this would now be my time to start paying off my debts. And maybe get a nice haircut!!
My $2,000 winning bucks will get deposited into our family HSA (Health Savings Account) for future medical premiums or expenses. With the ongoing national healthcare debate, being self-employed with uncertain income, a $6,000 deductible should one of us get sick--my sure bet is to save it for medical expenses. Best of all--no taxes due on HSA deposit for my winning proceeds.
Cherie ~ The Wise Penny Pincher
I would:
1. Pay down any remaining December credit card debt (there shouldn't be any, but just in case).
2. I'd top up my RRSPs
3. Any remaining $ would be applied to my tax-free savings account.
Help my daughter who is starting college this Jan.
I would apply $1600 toward bills --for sure. (that might pay off one of my accounts). The other $400. $100 split between a few of my favorite charities. $250 to replace the blad tires on my car. $30 for my 2 best friends & I to have drinks at happy hour and the last $20 for a shopping spree at the monthly .99 sale at my favorite consignment shop.
d
I would save half, take $100 each for my husband and I for extra spending, and then put the rest towards my auto loan.
I'm a bachelor boy with a plan: I would invest $2,000 in underwear, socks, Top Ramen (bachelor's know hundreds of Top Ramen recipes) and Spaghetti-O's with some of the money. Add to my meager rainy day fund and get certified in flagging so I can get a better job. I am 19 and a hard working young man.
I would pay off the medical bills that my insurance didn't cover. (It was quite a surprise to get that bill in the mail.)
$2000 to pay off the siding we had put on the house this summer and $500 for Vosages chocolate of the month club. I swear their Xmas catalog is like chocolate heaven calling to me....
I would spend $2000 by starting a Roth IRA for myself, and taking my family out for an elegant dinner to the type of place where the waiters replace your utensils depending on what you order and the ballet, something they would never do.
I would invest half in penny stocks in order to make a quick return and invest the rest in my Roth IRA.
Because I just finished my master's degree six months ago, I would use the money to make payments on my student loans. I would also use a small amount as seed money in my nieces' (ages 7 and 9) new bank accounts so they can start learning about finance.
We need a new mattress. One that leads me to such a restful night's sleep that I become a morning person again and not of me dreaming of a better night's sleep on our couch. With the rest of the money, I would pay off debt. How lovely a thought!
I would 200 jars and fill them with $100 bills each. I would, then, take my daughter (12 years old) to homes that can't afford Christmas for their kids and give them the jars.
I will follow my longstanding belief - I will let money work for me. I will replace my garage door which is full of leaks that's costing me money. Donate $250 to my church and rest will go to my kids' 529 Plan for their education.
I would purchase an engagement ring for the love of my life, my high-school sweetheart, Kate. I've written her a song, learned a few chords on the guitar, and I'm prepared to serenade her before family and friends. The only thing that's missing is the money to buy her the beautiful engagement ring that she deserves.
I'd buy 2,000 scratch-off lottery tickets and try and beat my old record of 38% ;) Haha...nah, I'd probably do something boring like invest it in an index fund. You know that $2k would end up being like $500,000,000.01 in 300 years right?
Fly to Vegas.
If I had an extra $2000 I would give $1000 of it outright to the Alameda County Food Bank as I am not hungry and others are. The 2nd $1000 to my Church to help pay for homeless project as I am warm and dry
I've accrued about $2,200 in student loan interest since beginning school in 2005. I would use $2,000 to pay off the majority of this accrued interest. I know that once I graduate this interest with be added to my principal balance (dang you, unsubsidized loans!), and I really don't want to be stuck paying interest on my interest.
I am 25 and have decided to move out of my parents home. I am recovering from a 6 month lay off from work. $2500 would go a long way into helping find a place that I can call my "own home".
Thank you Wisebread for this contest and good luck to all the participants.
This summer we bought our first house and it took almost all our available reserves of cash and then some extra. In Oct. my hearing aids bit the dust and I am now paying off $4000 (at $300 a month) for a new pair. I would send the money off to pay down that debt.
First, I would jump up and down with joy and do my thankful dance. Then, I would donate $200 to Cystic Fibrosis research, buy into a CSA for the summer, and then try to get Discover off my back for good ;)
If I won the $2000 I would had it over to my mother in law who is having one of the worst years possible. She Lost her Job and has only been able to land minimum wage temp for the past 10 months. Resulting in No Medical Insurance. To top it off she was just was diagnosed with stage 3 breast cancer. The $2000 would help pay off a credit card bill and at least give her a little peace of mind about her situation.
We'd put it in our "buy an RV" fund!
It might sound stereotypically normal but I'd probably use the $2,000 to pay down the principle on my student loans. It's the only debt I have and the sooner it's gone the better. I'm still in my grace period right now. -_-'
I lost my job, my mom is suicidal, and I'm still waiting for Obama's loan modification program to come true. Honestly, I would spend this money like there is no tomorrow. It might not be the smartest thing to do, but it sure would detach me from the troubles I'm going through.
I would use it primarily to get rid of my law school debt (although it would only hit about 1/30th of it)
I would put $250 in my IRA (10%), then I would put $750 into my current vacation saving fund (30%). I would put $1000 toward paying off debt (40%), spend $125 (5%) on a new pair of jeans, and $125 on starting my emergency fund.
The credit cards are paid off and we're saving for retirement, but we've been neglecting the emergency fund. So at least $1700 would go to beefing up that teeny, tiny fund. The other $300 would go toward a trip to Tampa to finally eat at Bern's steak house for a very rare indulgent dinner with great food and fabulous wine.
Charity has had a hard hit during the economic decline. being a humanitarian aid worker, I know how blessed we are, so I work diligently on funding my own travel to and from Darfur. $2000 would aid in my upcoming trip to Sudan either this upcoming February (I lack $2170) or give me a good running start for November 2010. I serve an orphanage of 500 orphans, that eat one meal a day, one meat ration a week.
I would take the 50% needs/30% wants/20% savings approach.
I'd use 50% (or $1,000) to pay off Credit Card debt, 30% (or $600) towards a quality used MacBook so I can finally finish the novel I have been writing in my head over past two years, and the last 20% (or $400) would go in a money market account to help build my emergency savings account.
I wish I had a more unique response to what I would do with the money, but honestly, I would use it to pay down our debt. We have $6,000 credit card debt that was accumulated from medical bills and car problems. Although it's not a huge balance, we have been finding it difficult to pay down, due to many factors including the fact that our credit card company tripled our interest rate for absolutely no reason. My husband has a stable job but we are having such a hard time paying down this balance, and it's really a heavy weight on our shoulders, as we are expecting our second child soon and would like to be able to live debt-free.
I would put it with our meager "bathroom fund" and finally get our bathroom fixed. This isn't for aesthetic reasons, but is long overdue.
If i were to receive the prize I would begin by paying down some debt and helping to support myself as I return to school. I am currently in the proses of reinventing my life part of which is finishing my collage education.
Oops I just realized that should have been only 2-3 sentences. :(
I would use the $2000 to travel to see our dear family friends in Chicago, whom my wife, son & I can never afford to travel to see in this economy.
Hey! Well, since you asked....
I'm a vet student.
$1500 would go to my vet school's patient assistance fund, the fund to which you can apply if you find yourself saying, "&@%$, I can't pay for my dog/cat/horse's major surgery/extensive hospital stay/whatever, and this is why."
$500 would go to the equestrian team fund at Smith College for a rider's scholarship.
I would use the money to replace the gutters. Living in the Seattle area it is crucial to have functional gutters and mine are in disrepair. Thanks in advance!
I will use the $2,000 to start my new princess business. I would tell you more about it but it is top secret, something that no one is doing yet (at least no one I can find through Google...which means that they aren't really competition anyway).
Also, I live near Austin, home of the Alamo Drafthouse Cinemas, the best movie theaters ever. I will reserve some of that $2,000 so that I can waste away hours watching movies and eating their amazing fried pickles with my family and friends.
I would pay the balance due on my daughter's 8th grade trip to Washington DC. I would also use some money for a suitcase and a digital camera for her to take on the trip. Any extra would be used for my husband and I to buy some wine and get a whirlpool suite for at least one of the nights she will be gone!
I would set side the $ in advance of the projected low hours at my job in the coming year. I'm in healthcare and my caseload fluctuates. No patients, no pay!
I would use half the money to fix my car my sister hit as she was backing out of the driveway. The rest of it I would invest/save/put towards my wedding.
I'm afraid I wouldn't be doing anything exciting with the $2,000, just paying bills. My transmission is going to need work (no estimate yet but I'm sure it won't be cheap) and the other vehicle needs the AC compressor replaced. After that would be my portion of the deductible for dental work for the family and what's left over would go to credit card balances.
BillShrink looks like a great website, I just signed up and after 5 minutes it looks like you can help me save $120 on my mobile phone bill. Thanks!
With $2,000 I could pay for books and art supplies. I'm an industrial design major, a very very broke industrial design major. $2,000 would more than cover all books and supplies ($600 last semester alone), and would perhaps give me some extra money to go have fun or better yet, eat food outside of the school cafeteria.
What to do with $2000? That is an easy one - our 2nd child is due in February and $2000 would cover about half of the out of pocket expenses we will incur for the birth. So, I guess you could say I would be spending the $2000 to bring our baby girl home. :)
I would use the money to bring my two young sons (4 & 1) to visit my brother who lives in NY. Ever since my husband was laid off we have been in survival mode with not too many treats for them. They miss their uncle terribly and this way they would have a piggy back ride and I would have no money worries. :)
If I had $2,000 I would take $1,000 of it a throw a big party for friends and family. Then I'd take the other $1,000 and stick it in a 12 month CD to do the same thing again next year.
Winning this 2 thousand 5 hundred dollar prize will be a God send to me. I am a junior in nursing school; I have 3 more semesters until I graduate and sit for my board. I am a good student with good grades, yet on thing is standing in my way of registering for the Spring semester of 2010, $2000 to pay my Fall balance. This hurts me so bad, that everynight I cry myself to sleep. I have had no luck with personal loans and have tried at least 6 didfferent cosigners to no avail, because of the economy banks are making it more difficult to get a loan. I have maxed out my federal aid. and I'm at my witts end. My dad, my sole supporter through college has been jobless since August of this year, and are facing major financial jeapordy apar from my current crisis. My parents and I cry daily because I have worked so hard and reached so close to graduation and thought of not making it kills them. The remainng $500 will go towards buying my OB/Peds, and Psych text books for the Spring semester (assuming I win this contest).All our efforts have been in vain so far; hopefully this contest will be my one shot. This is not a pity story. Everything in this comment can be verified and is the honest to God truth. I made the comment so detailed because I wanted to emphasize how important it is for me to win that $2500.
I would use the money for a down payment on land in northern New Mexico, where one day I hope to build a house from shipping containers. My partner and I love to write and make art, and this would be very Georgia O'Keeffe!
I had not heard of Bill Shrink before today! Thanks.
$2,000 would very nearly pay off what is left of my student loan, which I have been paying every month since 1991, even adding an extra $25 a month this year. I have a Master's Degree and a part-time job in my field but am not well compensated, so seeing that go would be glorious--for me, it would mean grocery money, first of all. Also, I could then put money into my IRA, which I have not been able to do for the last three years (my employer does not give benefits to part-timers, sadly).
In winning the $2,000 prize, I would put $1,500 towards my college loans and the remaining $500 towards my wedding this coming summer.
I'd stick to my "windfall plan".
50% goes to savings.
25% goes toward my personal wish list
25% goes toward general shopping, dining out, paying bills, having fun, whatever.
In the past, I'd have used a third to pay down CC and loan bills, but I don't have any more of those, yay!!
I would put the entire amount into an emergency fund. Cash that is available for emergencies is incredibly important - I'm a single mom of 4, so I have to watch out for my kiddos.
Great contest!
We're making a once in a lifetime trip to India in August. We have the tickets, but only $35 put away in our travel envelope. The $2000 would go straight to travel expenses.
In a debt for diploma system, I would use half to repay student loans, another portion to take my family on an overdue family vacation, and donate anywhere from 5-10% to my favorite charity.
I would use the $2000 to start a "contingency" fund - a fund for large car repairs, home repairs, etc. - the current source of most of our credit card debt. I would continue to help this fund grow by contributing $200 a month I will be saving on health insurance in the new year by switching to a less expensive plan.
Wow,
With 2 grand, I would be able to settle a good chunk of my debt, and maybe have some left over for moving in February.
I would be able to settle 2 of my old credit card debts (in collections) as well as settle an old debt with verizon.
Taking the responsible route would create some well-deserved breathing room around the household!
I used some of my credit cards to help pay for the medical costs of a friend of mine. I would use the 2k to pay off those credit cards. However, I will never regret using my credit card to help pay their medical bills and I would do it again if the need arose.
Oh this giveaway couldn't be more timely! My fiance and I were just budgeting our wedding last night and getting headaches - better once-in-a-lifetime wedding, or save some money for better honeymoon + down payment on a house? $2000 would definitely help us out a LOT whatever decision we make.
After giving 10 percent to my church I would use the money to pay off my credit card debt which has dupbled due to credit card company doubling the APR! even though I have never missed a payment.
RENT.
My main goal for 2010 is achieving a better sense of balance in my life (work-play balance, solitude/relationships balance, etc.) Accordingly, I would take my $2000 and put it towards a variety of things like a new creativity workbook, a great pair of hiking shoes, a new pot to replace the one that's getting old in my kitchen, the annual payment for my website hosting and the rest would go to pay off a few bills. If all of my income can be divided in this way in 2010 then I think it'll help me achieve my goals!
My best gift to myself is NO DEBT. With a windfall of $2,000, I would enhance my Compass Fund. My Compass Fund is my banker, credit card, and emergency fund rolled into one. When paying for emergency items or purchases that slam my budget, I borrow from my Compass Fund and pay the loan back just as if I had borrowed from a bank or made a credit card purchase. My best gift to myself is NO DEBT.
Are you kidding?! I would definitely use this to pay down some of the debt I accrued while I was in grad school. Okay, maybe I'd buy myself a netbook too- gotta keep up with Wisebread!
I'd reserve my own bamboo coffin.
With $2000 I would pay off my 3 balances (HD, FFCU, BofA) totally close to that amount and use that freed up monthly payment on my student loans that just repayment status this December. It would be a gift of relief not feeling so strapped for cash right now.
The $2000 would enable me to study intensive Spanish at San Miguel de Allende longer than I plan. By adding $2152 that I have saved, I would be able to pay for 12 weeks course ($784 for housing + $600 for tuition X 3 sessions = $4152). I don't come from the Latin background, am Asian, but I want to be as fluent as possible in Spanish because I want to both serve and learn from the Latino population in the US.
With $2000, I could pay for round trip gas and camping to go to Texas from here in the NY Adirondacks. I could be there for the birth of my first grandchild! :-) It's best to drive as I need to bring my oxygen concentrator, medical gear and service dog. I LOVE to travel and camp! I'd also love to be with my daughter...and be there when my grandson is born!
Jan 1st, I will have just completed the toughest financial challege of my short life (I'm 28). I bought a bank owned house 2.5yrs ago that was completely infested with mold in the walls.
I had to gut the house and have it rebuilt, at night and on weekends. I paid for whatever materials and labor I could out of each paycheck. The house was finished one month ago, and I had to rent it due to the market here. On Jan 1st, I will owe nothing from my paycheck towards this house, for the first time in what seems like forever. This $2,000 would become my brand new emergency fund, and jumpstart me into solvency.
First, I would tithe 10% to my church. Then I would purchase for my husband an air compressor and airgun nailer that he has been saving for and I would purchase for myself, a new set of pots and pans, a good set. With the remaining money, half would go into my emergency fund and the other half would go toward debt repayment. Thank you for the chance to win some money.
I recently started a 529 account for myself because I want to go to graduate school and don't want to have piles of debt when I finish. If I won $2000, I'd put it straight into the 529 account. At first I thought of giving the money to charity, but if I go to grad school and have less to pay back, I can get interest on the $2000 and give more to charity later. Maybe not the most exciting answer, but I'm all for shrinking bills before you have them.
I would be completely blessed to have the prize money. My wife and I just graduated college and bought a house while paying off her hefty student loans. I would use this money and put part of it down on her loans, and use the rest to buy a new front door. I would probably put a few hundred aside to treat ourselves to a nice dinner.
Thanks for the great posts, helpful tips, and even the chance at this prize.
With this money I would buy insulation for my attic and also insulate my basement. Then with anything extra I would buy two new windows to seal up and keep me my wife and baby warm and cozy.
I would tithe 10%, and use the rest to pay off my husband's braces.
I would start by giving the first $1000 away! I have always wanted to give money away. I would give 10 people $100.00. Then I would save $500 to help my emergency fund and then I would give my church and several charities I support the rest!
I would pay off some bills and put rest up in savings!
Hello...I would pay for my daughter's college text books. Except next semester I'm renting them. The expense was quite a surprise!