Where should I put an extra $500?

[schadenfreudeforeats]

Hello!

I kind of found some cash money. Just wondering where to put it and wondering what my fellow Mustachians would do. I'm Australian, surviving comfortably on a post grad allowance. Should I.....

a) Put it towards my current mortgage of $160k (property worth $350k)
b) Buy stocks for the dividends (trading on the ASX)
c) Invest more in the managed fund (Colonial First State)
d) Savings account - for a planned renovation on a rental property in January, 2015

It's not a huge amount, so it won't really affect my long-term prospects. Nice to get perspective though! Thanks!

[Primm]

Savings account. You're going to be needing it in 3 months. The other options (unless by mortgage you mean redraw facility) are a waste of time.

[justajane]

D.
It's not enough for any of your other options, and you clearly need it in a few months.