I am about to begin receiving a benefit to the tune of an extra $2k per month that I don’t have a need for. I’m fortunate enough that all my needs are met financially and this is truly bonus income. If it didn’t exist, my life wouldn’t change significantly, and it’s not enough to quit my job. Trying to get others thoughts on what would be good uses of this money that would benefit me and my family.
Thoughts:
- ALL_IN_VTSAX - hit FIRE goal earlier than planned
- kiddo’s college fund - hit funding goal earlier than planned
- do fun things - vacation fund, memories with family
- fund hobbies - buy things I don’t need but “lower-guilt” use of spare funds
Probably a combination of all of the above, but interested to hear the thoughts of others.
I’m also reminded of:
When you have more than you need, build a bigger table.
Curious of ways to help influence things in a bubble larger than my family too.
Budget 1500 of it to investments and savings. 300 of it to charities of your choice ideally locally focused ones like food banks, shelters, housing programs, etc. Use the last 200 as hobby or fun money to take your family out to a couple extra events or eating out.
hard to argue with that. honestly i may just follow that advice myself
Yeah. 75/15/5 is a rule I use for my own budget for all the money left over after my standard bills are paid. As long as the majority goes to accounts that earn good interest (CD’s or index fund investments) it’ll be fine.