Some people are lucky enough to be wondering not how to get money, but what to do with a sum that’s landed somewhat surprisingly in their laps.
A Kiplinger story lists 5 Ways to Spend a Financial Windfall. Most of the advice, actually, is that you shouldn’t spend it at all, but rather build up your emergency fund and stash a bundle in high-yield savings accounts (and ING Direct, which currently pays 1.3%, qualifies as “high-yield” in today’s market) or in CDs or money-market accounts. Naturally, you should pay off high-interest debt if you have any, but that’s basically another way to save: You’re saving what you would have been paying on absurd credit card interest rates.
Meanwhile, a CNNMoney story shows how different people are spending their holiday bonuses (those still exist?). The scintillating list includes:
Fix the dishwasher
Pay off debt
Pay the phone bill
Save up for rainy day or to buy a house
OK, now I don’t feel so bad that I didn’t receive a bonus this year. Or last year, or the year before that …
