5 Things You Can Do With $30,000
Believe it or not, now that 2015 has come, the economic woes that began of 2008 are seven years old! Although the economy hasn’t recovered as quickly as we all would hope, Americans are finally to the point where things are looking up. (In December of 2014, the government announced that the economy is growing at a rate not seen in over a decade!)
Since the economy has recovered, more and more people are finding that they have a little disposable income.
So here are the five things you can do with $30,000:
- Buy a car – According to Truecar.com, the average price of a car in the U.S. is $31,252. If driving is something that’s important for your personal or professional life (i.e. you don’t live in New York City), then you should consider buying a new or used car. ()
- Pay down your credit card debt – According to CreditCards.com the average American household with at least one credit card has around $16,000 in credit card debt. Now, having a little bit of debt is ok but $16,000 is outrageous. Take some of your cash and get back in black.
- Go on a very nice vacation – Think back to when you were young, dreaming about traveling around the world. Well do it! Airline companies like the Star Alliance offer “Round the World” fares where you can visit everywhere you’ve always wanted to see
- Nothing – Ok. This may be a little cheating, but honestly, it’s what most of you are going to do. Nothing. It’s very easy to let money sit somewhere safely. No one is ever going to question your decision, as the decision not to spend money is often hailed as “fiscally responsible.”
- Open your own small business – There’s a myth in this country that you need hundreds of thousands of dollars to open your own business. That statement has never been true and it certainly isn’t true in 2015. This country is full of small business owners who have made a lot out of a little. Now, I’m not recommending the “start a business in your garage” route as those businesses fail at an exceptionally high rate. I’m talking about taking some savings and opening up a location of a well-established turn-key business that has proven economic success.
If you’re interested learning what it takes to open a franchise, then we
have developed a brief quiz that helps us understand what you’re looking for. We then figure out which franchises are looking for new owners in your area and provide you a set of customized results. If you have a few minutes, click here to take the quiz.
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What Would You Do with $25,000?
Have you ever had one of those days when you were just kind of fantasizing about what you would do if you had a crazy amount of money? I had one of those a couple of weeks back when I was looking for a new apartment. I decided to go onto an NYC realty site and take a look at what paying an absurd amount of rent gets you in the city. I was looking and came across one for $25,000 a month (and that’s nowhere near the top end) and just had to laugh. Of all the things you could do with $25,000 - paying one month’s rent on an apartment seems pretty nuts to me. But that got me thinking, what can you do with $25,000 - from rational to fun to downright wacky.