Found money, aka Hookers and Blow

[DocCyane]

I posted this on Facebook yesterday:

***

After 8 years of living in my ghetto apartment, I finally got my $1400 deposit back. Should I:

1) Spend it all on hookers and blow.
2) Vegas, baby!
3) Buy a Starbucks coffee every day for a year (I.e., literally piss it away)
4) Spend it on random things yet to be identified.
5) Place it in a no-load mutual fund that mirrors the S&P 500 index where it will be worth $8700 when I retire.

Take your pick.

***

The replies varied from the obvious hookers and blow selection to adding their own choices, like "#6 use the money to buy plane tickets and go on a trip."

It was meant both as a joke and as a thought exercise. When "found" money comes into your life, what do you do with it?

Obviously this was my money to start with, so I'm probably more protective of it psychologically than if it were truly unexpected funds. At some point I worked for it and the company that owns these crappy apartments has sat on it for 8 years, enjoying the returns. Good thing the company is in my REIT.

Anyway, what would you do with a found $1400?

[kkbmustang]

Good thing the company is in my REIT.

Favorite line.

I'd pay down student loans at 6.8%.

[arebelspy]

Mine choice would be 2) Vegas Baby!

..of course, being a Vegas local, said funds spent in Vegas would be on groceries and other practical items. ;)

IMO, found money is no different than money from a paycheck, and staching the whole thing is the badass thing to do in my opinion.  I'd be good with spending 10% of the windfall on a splurge.

[brewer12345]

Every dollar is indeed indistinguishable from the last.  However, there is a natural human psychological impulse to piss away money that we mentally account for as "found" or otherwse "free."  If you can ignore this and hang onto it (as I can wil smaller sums), that is the best idea.  However, if you have a tough time it may make sense to allow yourself to spend a small fraction of it without guilt and squirrel the rest of it away.  I am usually pretty good about this stuff, but when I got some of the largest lump sums I will probably ever see, I had to let myself and DW spend a few percent of the loot.

[michael]

Did any repliers on FB vote for #5? :)

[DocCyane]

Did any repliers on FB vote for #5? :)

Actually they did. A few thought it was the best choice. Now whether or not they would do it themselves, I'm not sure. It's easy to make other people go without; not so easy to go without yourself.

[happy]

Good thing the company is in my REIT.

Favorite line.

Had a laugh at this too!

Personally I'd make extra payment to my mortgage. I can honestly say now that I'd prefer to do this to wittering even 10% away.

The thing I'm noticing now that my expenses are under control, is that when I get a windfall like this,  I can easily stash it. Before an amount like this would have gone into the amorphous swirl of my accounts...spent before I got it.

Stashing is the new spending.

[vern]

The last time I got a windfall I spent most of the money on wine, women, and song.  The rest of it I squandered. 

(Thanks Ronnie Hawkins!)

[Grigory]

After 8 years of living in my ghetto apartment, I finally got my $1400 deposit back.

This alone is praiseworthy! :) I'm not sure how you pulled it off, but great job!

[DocCyane]

After 8 years of living in my ghetto apartment, I finally got my $1400 deposit back.

This alone is praiseworthy! :) I'm not sure how you pulled it off, but great job!

Ha! I simply outlasted them. My apartment complex was sold to a larger company two years ago and their policy is to return a renter's deposit after just two years. It's a way to keep people renewing leases and the company flips fewer apartments.

I did nothing special other than remind them I've been here forever, and I'd like my money back, please.

[smedleyb]

I say hookers in Vegas while doing blow consumed through a thick Starbucks straw off a Vanguard prospectus.

Happiness is all about balance.   

[meadow lark]

Brilliant.  Off to go order a Vanguard prospectus.  (Got the rest here.)

[Polish_Hammer]

I say hookers in Vegas while doing blow consumed through a thick Starbucks straw off a Vanguard prospectus.

Happiness is all about balance.   

Everybody knows you snort the blow off of the hookers

[2ndTimer]

Put all except $35 in your investment accounts
Get the cash in the following form:  $5 bill, $10 bill, $20 bill
On your next day off, take out the $5 bill and contemplate it as you awaken over your breakfast beverage
Ask yourself, "What is the absolute most fun I could have with this $5 bill today.
Do that

Repeat with the $10 and the $20 on your next two days off.  You will have a lot of fun and learn a lot about yourself.  If you have a SO include them for more than double the fun.  Or take our $70 in cash and make it a competition.

[honeybbq]

I'd buy a Garmin 920 watch and invest the rest. :)

[MudDuck]

Our policy for any "extra" money, which includes my part-time second job, bonuses, gifts, and whatever else is not our expected salary:

40% goes to pay off debt OR  if we don't have any that month, for future expected expenses (vacation, car repair, whatever's coming up)

40% goes to savings

20% hookers/blow, etc.

I feel ok with that 20%.

[Digital Dogma]

I always like to keep it in cash and dole it out one 20 at a time when I make 'extra' purchases (liquor, chocolate, not luxury but comfort). It makes me think twice before picking up a little extra for myself or my SO.

The up side to this is that my found money fund doubles as an emergency cash surplus for winter storms and hurricanes when credit card readers are down.

[2lazy2retire]

I posted this on Facebook yesterday:

***

After 8 years of living in my ghetto apartment, I finally got my $1400 deposit back. Should I:

1) Spend it all on hookers and blow.
2) Vegas, baby!
3) Buy a Starbucks coffee every day for a year (I.e., literally piss it away)
4) Spend it on random things yet to be identified.
5) Place it in a no-load mutual fund that mirrors the S&P 500 index where it will be worth $8700 when I retire.

Take your pick.

***

The replies varied from the obvious hookers and blow selection to adding their own choices, like "#6 use the money to buy plane tickets and go on a trip."

It was meant both as a joke and as a thought exercise. When "found" money comes into your life, what do you do with it?

Obviously this was my money to start with, so I'm probably more protective of it psychologically than if it were truly unexpected funds. At some point I worked for it and the company that owns these crappy apartments has sat on it for 8 years, enjoying the returns. Good thing the company is in my REIT.

Anyway, what would you do with a found $1400?

Well if you go with option 1, then you could go all mustachian by using some geographical arbitrage and heading south - more "bang" for your buck.

[steveo]

Found money gets saved.

[RyanAtTanagra]

Found money gets saved.

Agreed.  I noticed at some point, after getting a real handle on my spending and starting to build a stash, that I didn't know what to do with found/extra money other than save it.  What would I spend it on?  If I wanted X (a new bike, new gadget, trip to somewhere, whatever), I would just get it.  I already have the money for it, it's sitting right there.  I figure the reason I don't have X, and have investments instead is because I value the invested money more than the thing.  That value system doesn't change just because some extra money came in.

[11ducks]

I got my leave loading/xmas bonus this week, along with outstanding pay for one-off consulting work, totalling $660 more than normal. I spent $10, saved the $650 into long-term savings. $10 is enough for a takeaway lunch - as I only do it a few times a year it feels like a real treat. Nothing soothes the soul like a slow-cooked beef burrito. mmmmm, burrito. 

So I vote for index funds, with a discretionary amount for burritos.

[happy]

Found money gets saved.
[/quote
+1

[jim555]

I had one year of salary as found money (severance payment).  Bought a new TV to get the splurge need satisfied, banked the rest. 

[dude]

I say hookers in Vegas while doing blow consumed through a thick Starbucks straw off a Vanguard prospectus.

Happiness is all about balance.   

Everybody knows you snort the blow off of the hookers

Off the hooker's ass, to be precise.

[elaine amj]

I used to splurge a bit. Now I find with using YNAB, I'm not even tempted to splurge it as it goes into an anonymous pile of income and just gets budgeted away (my extra money goes into a category called: "we can save more").

Put all except $35 in your investment accounts
Get the cash in the following form:  $5 bill, $10 bill, $20 bill
On your next day off, take out the $5 bill and contemplate it as you awaken over your breakfast beverage
Ask yourself, "What is the absolute most fun I could have with this $5 bill today.
Do that

Repeat with the $10 and the $20 on your next two days off.  You will have a lot of fun and learn a lot about yourself.  If you have a SO include them for more than double the fun.  Or take our $70 in cash and make it a competition.

That sounds like a fun thing to do. Hmm..I always have trouble coming up with ideas for date night so we rarely do it. Might be fun to give this a shot...

Agreed.  I noticed at some point, after getting a real handle on my spending and starting to build a stash, that I didn't know what to do with found/extra money other than save it.  What would I spend it on?  If I wanted X (a new bike, new gadget, trip to somewhere, whatever), I would just get it.  I already have the money for it, it's sitting right there.  I figure the reason I don't have X, and have investments instead is because I value the invested money more than the thing.  That value system doesn't change just because some extra money came in.

I love this perspective and will be stealing it for use when I have found money :)

[I'm a red panda]

Found money almost always goes into a savings account or investment account.
We are boring people.

But we vacation a lot. We just don't plan them around the found money. So if you don't vacation- I'd vote for that option. Travel is awesome.

[Landlord2015]

I am really a bit divided...,but some of the sum to save or invest. I am not sure what blow means in this context, but if it means drugs then absolutely not!

Hookers are LEGAL in my country it would cost roughly 100 euro for 1 hour sex with a hooker in my country and I mean a very good looking babe.

However since it is illegal in your country maybe you need to do a roadtrip in USA to some place where it is legal but then another problem is I don't know the cost for your fuel+USA hooker price.

I am notorious getting to my goals... I have said no to many hooker attempts this year. I have set financial saving goals a bit to high for me, but I might reach that goal for 2015 finally now in this month December... and then well...
honestly my goal is to frugal don't have enough money to spend on hookers this year. I do plan a trip abroad during 2016 though...

[partgypsy]

Landlord, keeping it real.

[Bracken_Joy]

Landlord, keeping it real.

He brings up hookers in literally EVERY thread. Like, manages to make college debt discussions about hookers. (Or not even make them about hookers, just brings up hookers). At last, a thread where Landlord's hooker fixation makes sense and fits the discussion!

[Landlord2015]

Landlord, keeping it real.

He brings up hookers in literally EVERY thread. Like, manages to make college debt discussions about hookers. (Or not even make them about hookers, just brings up hookers). At last, a thread where Landlord's hooker fixation makes sense and fits the discussion!

No you are incorrect. There are lots of threads that I have never mentioned hookers or prostitution.

It is true I am politically PRO legal prostitution, but that is also since I believe it is best for everyone. Legal environment makes the prostitutes work more safe.

As for threads I have never mentioned prostitution yes there are more then a few of them. Example: One thread of how to use military training and service time for your benefit. I had a few posts in that thread and I am 100% sure in none of those posts in that military thread did I mention prostitution.

Another example that is more fresh a totally NEW thread:
http://forum.mrmoneymustache.com/welcome-to-the-forum/you-should-probably-watch-these-4-steve-cutts-videos/
I did have quite a long post, but not a word of prostitution or hookers was mentioned.

Therefore please stop spreading incorrect information about me thanks.

Finally I did check you are female. My intention is not to insult women and I respect women, but neither do I support feminists. While I am 100% heterosexuel I am sure there exist many male strippers as well.

[Mighty-Dollar]

Why wait until retirement for it to be worth $8700? Go to Vegas and win big!

[Dezrah]

A funny thing happened at my work recently. My employer continued their tradition of giving away raffle prizes for Christmas. These were some sweet prizes: iPads, TV, Apple Watches, Xbox, but most people really wanted the PS4. With as many employees as we have, there was really only about a 1% chance of winning anything. When all the big prizes were gone you could feel the "aww shucks" mood in the air.

Except... the company also announced they were giving everyone an end of year cash bonus as well. Now I don't how much everyone got but I would be shocked if anyone got less than $1k. So if you REALLY wanted on of those prizes, you could easily get two of them. Psychologically though, we all want guilt free spending over boring savings.

[HappyMargo]

Just received a surprise $800 last week.   

Not planning to do any Thunder Down Under or Chippendales with it.... But sushi?  Yeah, some top-notch sushi and sake!  Then the rest to Vanguard.

[zephyr911]

So, I closed a rare real estate deal yesterday. RE is job #3 and generally the only deals I do are my own investment buys (self and LLC). This one fell in my lap via a referral from a friend and will net me about $2K, more than my biweekly take-home pay.

I'm allocating approximately 1.5% of it to 2 rounds of beers with one of my partners*, who equally shared the cost of my license with me, before we go survey a rebounding neighborhood where we want to invest. The rest goes toward my next down payment.

*the other one lives out of state or I'd make it 2.25% ;)

[Landlord2015]

Mine choice would be 2) Vegas Baby!

Well if that means sex with the Baby then yes. A club like this please:
Sexy Striptease (Vocal Trance)
https://www.youtube.com/watch?v=K4hUias4kls

Oh my I am naughty again and perhaps even Evil???

Look my life is sometimes tough I was worked today 10.00-15.00 then 15.30-23.00 time that I use to go entreprenur evening course today in Finland(Europe) and the time to go home.

Lol I am free tomorrow will not work before next week again... but I feel a bit to be like nasty:). Tomorrow I will train hard sports... since no train today.

Please do not call me Evil though nasty me like both Actlon and Horror movies.
This cool music is always what I would call Evil music and it is from Norway. Norway is not far from Finland...
Sirenia - At Sixes and Sevens
https://www.youtube.com/watch?v=t94kgjklxMI
though I like more the below music:
Sirenia - One By One
https://www.youtube.com/watch?v=UEttvTN_hpA

Yeah yeah nasty me? Right I have done my army time that took many months slightly less then a year. I had one class mate that was idiot and did not come to the army enlistning. Well Finland police went to the idiots house and very roughly took him to the army calling. Females can choose to do army voluntary in my country. Males can choose instead of army time to do free work instead, but that is for weak people that have lol some moral issues to use guns. Besides army service takes less time then that civil free work.

With this post I do not mean to insult anyone, but I feel nasty right now so don't push me otherwise I might be tempted to post more nasty stuff. You don't need to be scared though I like America and Europe very much and do not want to hurt people in real world unless it becomes war.

[RyanAtTanagra]

Usually thread derailment follows a natural and easy to follow progression.  I have no idea what happened here.

[Landlord2015]

Usually thread derailment follows a natural and easy to follow progression.  I have no idea what happened here.

Ah nothing to serious I showed what I want and let out some steam. If you would have read all previous posts maybe you would understand more. A female accused me of being nasty, but that was over the top incorrect.

Anyway I did post on topic also what I expected from Vegas Babe.

I stand for saving&investing some money, but also enjoy the babe. No drugs though that is the one nasty thing I would avoid at all costs. Booze yeah maybe slightly booze, but not to drunk if you want to enjoy a babe.

[arebelspy]

Usually thread derailment follows a natural and easy to follow progression.  I have no idea what happened here.

Are you kidding?  This is the most on topic he's ever been.  ;)

[dude]

^ LOL!!!

[partgypsy]

Usually thread derailment follows a natural and easy to follow progression.  I have no idea what happened here.

Are you kidding?  This is the most on topic he's ever been.  ;)

double lol!

[lostamonkey]

Usually thread derailment follows a natural and easy to follow progression.  I have no idea what happened here.

Ah nothing to serious I showed what I want and let out some steam. If you would have read all previous posts maybe you would understand more. A female accused me of being nasty, but that was over the top incorrect.

Anyway I did post on topic also what I expected from Vegas Babe.

I stand for saving&investing some money, but also enjoy the babe. No drugs though that is the one nasty thing I would avoid at all costs. Booze yeah maybe slightly booze, but not to drunk if you want to enjoy a babe.

Do you mean hookers when you say "babe?"

[BarkyardBQ]

Usually thread derailment follows a natural and easy to follow progression.  I have no idea what happened here.

Ah nothing to serious I showed what I want and let out some steam. If you would have read all previous posts maybe you would understand more. A female accused me of being nasty, but that was over the top incorrect.

Anyway I did post on topic also what I expected from Vegas Babe.

I stand for saving&investing some money, but also enjoy the babe. No drugs though that is the one nasty thing I would avoid at all costs. Booze yeah maybe slightly booze, but not to drunk if you want to enjoy a babe.

Do you mean hookers when you say "babe?"

I don't think he understands the Swingers reference...

[Bertram]

Landlord, keeping it real.

https://media.giphy.com/media/BMrJzUlkcjdg4/giphy.gif

edit: Switched embedded gif to link, to not cause seizures...

[Landlord2015]

Are you kidding?  This is the most on topic he's ever been.  ;)

I like your comment fun hehe yeah very fun:)

Usually thread derailment follows a natural and easy to follow progression.  I have no idea what happened here.

Ah nothing to serious I showed what I want and let out some steam. If you would have read all previous posts maybe you would understand more. A female accused me of being nasty, but that was over the top incorrect.

Anyway I did post on topic also what I expected from Vegas Babe.

I stand for saving&investing some money, but also enjoy the babe. No drugs though that is the one nasty thing I would avoid at all costs. Booze yeah maybe slightly booze, but not to drunk if you want to enjoy a babe.

Do you mean hookers when you say "babe?"

I don't think he understands the Swingers reference...

Yes I do understand the Swingers reference:
https://en.wikipedia.org/wiki/Swinging_%28sexual_practice%29

However in Finland(Europe) where I live you can not find any special "swinging club" unless you mean any normal club a nightclub like a normal disco for example.

Well anyway yes if you for FREE can get a very beautiful women that have sex with if you it is better that way then to pay for it.

I also do not want that you get problems because in Finland(Europe) the hookers are ok in the law. However sometimes beautiful women in Europe  strip clubs might say YES and be wonderful if you ask them for sex... I know that:) Do not ask why I know it, but if you are smart it is pretty easy to guess why...

However in USA I do not want you get problems with USA police or law etc.. there are in Nevada in USA hooker clubs that are ok with the USA law.
https://en.wikipedia.org/wiki/Prostitution_in_Nevada

Anyway I live in Europe in Finland where prostitution is ok in the law.

[Bracken_Joy]

Usually thread derailment follows a natural and easy to follow progression.  I have no idea what happened here.

Are you kidding?  This is the most on topic he's ever been.  ;)

I said that and I got called a "female who called him nasty". Why do you get a "hehe very fun:)"

Hardly seems fair.

[arebelspy]

Usually thread derailment follows a natural and easy to follow progression.  I have no idea what happened here.

Are you kidding?  This is the most on topic he's ever been.  ;)

I said that and I got called a "female who called him nasty". Why do you get a "hehe very fun:)"

Hardly seems fair.

Were you who he was referring to with that?  I assumed someone called him nasty in another thread.

[BarkyardBQ]

Yes I do understand the Swingers reference:
https://en.wikipedia.org/wiki/Swinging_%28sexual_practice%29

"Vegas Baby, Vegas!" is a line from an awesome movie, Swingers.

https://www.youtube.com/watch?v=dV1HSscPYSY

[Bracken_Joy]

Usually thread derailment follows a natural and easy to follow progression.  I have no idea what happened here.

Are you kidding?  This is the most on topic he's ever been.  ;)

I said that and I got called a "female who called him nasty". Why do you get a "hehe very fun:)"

Hardly seems fair.

Were you who he was referring to with that?  I assumed someone called him nasty in another thread.

Pretty sure he was referring to me. I hope I'm wrong. I definitely never called him nasty, but it felt directed at me... Hope it was a different thread he meant.

[Landlord2015]

Pretty sure he was referring to me. I hope I'm wrong. I definitely never called him nasty, but it felt directed at me... Hope it was a different thread he meant.

I can not remember anyone calling me literally nasty in any thread so far. That was my own reference if that was misunderstood then sorry for the inconvience.

Nasty meant anyone any critic in reference to me as bad morals blah blah and so on and not only directed at you.

As for this thread yes I meant you that rambled with incorrect information, but lets move on and forget about that.

As for why I find a comment funny that is subjective fun. I live on another continent and if you don't get something it might be due to slightly different cultural background.

Now I have never seen Swingers movie so yes if that comment was from that it was lost on me. Comedy is not my typical movie that I watch.

Well there are exceptions and American Pie(the original the first movie) was well worth seeing. American Pie is shortly said pervert comedy. I liked that movie though I have never heard of anyone treating pie like that and it was well extreme:)

Lets not go into how food can be used for sexual pleasure and I am sure the porn industy has figured out most examples, but I use food to eat it.

[Landlord2015]

Yeah this:)

Well if that means sex with the Baby then yes. A club like this please:
Sexy Striptease (Vocal Trance)
https://www.youtube.com/watch?v=K4hUias4kls