What would you do with £10k in the bank?

the_professor · November 13, 2013

By around summer of next year I should have around £10k saved up and I am looking for suggestions of what to do with it – so I am asking you guys what would you do if you had £10k in the bank?

A little background – I’m 34 and have no ties. Got back from 18 months of travelling in 2011 and to be honest I am itching to go again, so I’ve got a few travel related thoughts in mind:

Going back to New Zealand to work for a year to work and travel
Spending 3 to 6 months travelling through Europe. Maybe renting a cheap apartment somewhere (I know places like Bulgaria, Portugal, Poland, etc, etc you can get decent places for between 100 and 300 euros a month) and just spending a couple of months completely chilling out.
Travelling overland from the UK down to South-East Asia
Doing a volunteering project or getting some cheap/mindless work somewhere for a few months with no stress or hassles
My last option is to change career, I work in PR and Marketing in the South-East of England and I dislike the fast, hectic and expensive way of life down here, so I am thinking about starting afresh somewhere else in the UK, in a new career (although I have no idea where or doing what!)

Anyway I am asking you members of GOT would do in my position?

Attempted jokes/humorous replies will be ignored (unless they are really funny).

Blue 1 · November 13, 2013

I would travel if I was in your position. It actually make me a bit sad I'll not likely do another big trip again now I've got a kid. You can never really lose by travelling. Even if you have a bad time you'll still learn things about yourself and the world.

Bruce Wayne · November 13, 2013

Depends what your goals are doesn't it? It sounds like you want to spend that cash though rather than invest it for a house (or something)?

Dylan · November 13, 2013

Continue saving, put 50-100 quid in a month, move it to a high yeild savings or CD type fund and watch that total grow over the years.

Or buy a really large stack of porn, hand lotion and tissues.

the_professor · November 13, 2013

Blue 1 said:
I would travel if I was in your position. It actually make me a bit sad I'll not likely do another big trip again now I've got a kid. You can never really lose by travelling. Even if you have a bad time you'll still learn things about yourself and the world.

Thanks as you can probably tell that is kind of my view – only problem is there as so many places I want to see now!

I’d love to see more of Europe as it is on my doorstep and I’ve barely seen it apart from stag do’s or the odd week away. I’d also love to go back to South-East Asia as it is very cheap, very different and so many cultures to discover. I spent six months travelling and working in New Zealand in 2010/11 and loved it. I am wary I can only get a working visa there up to the age of 35 (via BUNAC) so don’t want to miss that opportunity. I also quite fancy cycling the East Coast of the States from Vancouver to Tijuana, I’ve a friend who raves about Central America, and I want to visit South-America too. Unfortunately I can’t afford to do them all!

larrygobfiend · November 13, 2013

Whack it all on black mate.

the_professor · November 13, 2013

Bruce Wayne said:
Depends what your goals are doesn't it? It sounds like you want to spend that cash though rather than invest it for a house (or something)?

I am an only child, and my mum died back in 2001. There is only me and my dad now, and I know that when he dies I will get the house, so I don’t really have an urgent need or desire to buy somewhere. Bad I know, but it has taken that pressure off of me!

the_professor · November 13, 2013

Dylan said:
Continue saving, put 50-100 quid in a month, move it to a high yeild savings or CD type fund and watch that total grow over the years.

Only problem with that is to continue saving would mean to continue working! I don’t really want to continue in my current career as I don’t enjoy it enough.

Also you never know what will happen to you and I might save my money but never get to use it.

Pabbers · November 13, 2013

Good postition to be in. Depends on your goals, and that looks like seeing what you can, as soon as you can.

Get it done, but I would want a bit more than £10k, not really that much is it ??

Pabbers · November 13, 2013

I would put donw a plan.

10 countries in 20 months looks good to me, minimum you would need is £20k, surely.

Bungle · November 13, 2013

Use the £10k to send your dad far far away (by which I obviously mean a hit), sell the house, use some of the money from that to purchase a smaller place, thus leaving you with a reasonable surplus to go travelling to all the places you want.

Dylan · November 13, 2013

the_professor said:
Thanks as you can probably tell that is kind of my view – only problem is there as so many places I want to see now!

I’d love to see more of Europe as it is on my doorstep and I’ve barely seen it apart from stag do’s or the odd week away. I’d also love to go back to South-East Asia as it is very cheap, very different and so many cultures to discover. I spent six months travelling and working in New Zealand in 2010/11 and loved it. I am wary I can only get a working visa there up to the age of 35 (via BUNAC) so don’t want to miss that opportunity. I also quite fancy cycling the East Coast of the States from Vancouver to Tijuana, I’ve a friend who raves about Central America, and I want to visit South-America too. Unfortunately I can’t afford to do them all!

That would be west coast......