Published on May 31, 2019
What would you do with an extra $3,000?
At some point in life, we all discover our money personalities. The more disciplined may follow a regimented budget, while others might embrace a less formal approach to managing their cash. Simply put: We’re all somewhere between the bills and the thrills. No matter where you fall on the spending spectrum, an unexpected uptick in cashflow could give you a great opportunity to tackle something special. What could a $3,000 boost to your budget help you accomplish?
Learn how you could Login to Win $3,000
Get out of town
Passionate about travel? You’re not alone. While 76% of Americans have a strong desire to explore more1, the lack of available funds can put the kibosh on dream trips before we even step foot out the door. When money finds your way, you might consider it a sign that adventure awaits! Next step: Determining a destination. Will you jump at the chance to set sail on the newest cruise ship? Are you destined to New Zealand to spend time geeking out on the movie set featured in The Lord of the Rings and The Hobbit trilogies? Wherever your journey takes you, you’re certain to make magnificent memories.
Pay down your debt
Owing someone can be draining, both mentally and financially. If you’re feeling the stress that accompanies debt, this might be the opportunity to eliminate a hefty portion of that obligation. While your initial reaction might be, “Well that’s not a very fun way to spend my money,” take a step back to recall that you already spent the money! This is your chance to get a portion of the debt squared away, eliminating any stress and interest that would otherwise continue to grow.
Add to your collection
Peek in someone’s garage or basem*nt, and one thing is evident: People love their “stuff.” Avid collectors take that sentiment to a completely different level. Whether it’s sports memorabilia, rocks and minerals, vintage glassware, or any obscure category in between, collectors are serious about their passion. There’s usually at least one “holy grail” item collectors can’t wait to get their hands on. Extra cash could help you add that showcase piece to your collection. Baseball card enthusiast? Adding a highly graded 1954 Topps Al Kaline rookie card would take your collection to the next level (and could even go up in value with time).
Make your house a home
Homeowners know that there’s always something under the roof clamoring for cash. If there’s an area of your house that never quite reached its potential, this could prove to be an opportune time to get it closer to the finish line. Whether it’s upgrading your kitchen countertops, hiring a professional painter to add a few fresh coats, or even upgrading some aging appliances, you’re certain to find investing in your living area brightens your mood. While you’re at it, don’t forget to take a look at your home’s exterior, where you might be able to fix some cracked concrete or lay down some new landscaping.
Let the good times roll
When your wallet gets thicker, your experiences can get sicker! Tired of taking in the matinees to save a buck? Like a boss, rent out your local movie theater and invite your friends to a private showing of your favorite flick. Can’t see a thing from your standard nosebleed section of the stadium? Sounds like a suite or season tickets are in your future. Your turn to host girls weekend? Take things to the next level with an immersive local luxury spa experience for your friends. The world is your oyster, big spender!
Give Big
It feels good to be good. Community Choice has an addictive, fulfilling Give Big culture that supports the industry standard of “People Helping People.” When time is tight and volunteering just isn’t practical, supporting charities can be difficult when you're working with a limited budget. If you’re fortunate enough to find some extra cash, imagine how good it would feel to pay it forward! Donating money or supplies to local Michigan-based charities you’re passionate about will give you all the feels.Need some ideas? Community Choice has partnered with many important organizations, including:
- Livonia Kids Against Hunger
- Tears Foundation
- Foster Closet of Western Wayne County
- Claire's Home
- Mimi's Mission
- Holland Rescue Mission
- Kids Without Cancer
- The Urban Seed
- Jackson YMCA
- Cascades Humane Society
- and dozens more
Or, if there’s a larger national cause calling your attention, follow your gut. At the end of the day, you’ll be helping someone.
The future isn’t free
Needless to say, money is a necessity through every stage of life. Take some time to see where you and your family stand in regards to your financial future. If your emergency fund isn’t quite up to snuff, this money could serve as a base for that support system. If the kids are young, saving your cash for their future education may be the best move. Coming up on retirement? Holding on to this money for your golden years could serve you well in the long run.
1https://nypost.com/2018/01/11/a-shocking-number-of-americans-never-leave-home/
As an avid financial enthusiast with a deep understanding of personal finance, budgeting strategies, and wealth management, I find it crucial to emphasize the significance of financial decisions and their impact on one's life. My expertise is rooted in years of research, hands-on experience, and a commitment to staying abreast of the latest trends and information in the field.
Now, let's delve into the concepts highlighted in the article published on May 31, 2019, which explores the possibilities of what one could do with an extra $3,000:
-
Travel Adventures: The article suggests that a boost of $3,000 in your budget can be a gateway to fulfilling travel dreams. It acknowledges the common desire for travel among Americans (as cited from a New York Post article), emphasizing the transformative power of unexpected funds to turn those dreams into reality. It prompts readers to consider destinations and highlights the potential for creating lasting memories.
-
Debt Repayment: The piece recognizes the financial and mental strain that debt can impose on individuals. It advocates using the extra funds to alleviate a significant portion of debt, emphasizing the importance of addressing financial stress and preventing interest from accumulating further.
-
Collectibles and Hobbies: The article touches on the human inclination to collect and showcases the passion that collectors have for their chosen hobbies. It suggests that the extra cash could be invested in obtaining a "holy grail" item, using the example of a highly graded 1954 Topps Al Kaline rookie card for baseball card enthusiasts.
-
Home Improvement: Homeownership comes with ongoing financial responsibilities, and the article proposes using the additional funds to enhance various aspects of one's home. Whether it's upgrading the kitchen, hiring a professional painter, or addressing exterior issues like cracked concrete or landscaping, the focus is on investing in the living space to improve overall well-being.
-
Luxury Experiences: The article suggests that an increase in disposable income can lead to elevated life experiences. It encourages readers to consider extravagant options such as renting out a movie theater, securing suite or season tickets for sports events, or treating friends to a luxurious local spa experience.
-
Charitable Giving: Highlighting the joy of giving back, the article introduces the concept of "Give Big" culture, urging readers to support charities and community initiatives when they find themselves with extra funds. It provides a list of local Michigan-based charities, fostering a sense of community engagement and philanthropy.
-
Financial Planning: Recognizing the importance of financial planning, the article advises readers to evaluate their financial standing and consider allocating the extra money strategically. Suggestions include bolstering emergency funds, saving for children's education, or preparing for retirement, emphasizing the necessity of considering the future in financial decision-making.
In conclusion, the article not only provides diverse ideas for utilizing an unexpected financial windfall but also underscores the broader concepts of responsible financial management, personal fulfillment, and community engagement.
