I am not sure if it was fate, or what, but days after I read FCN’s, “What Would You Would Do with a $1,000” I actually won $1,000!   Actually, I won $1,260 through a 50/50 raffle for a buddy’s church ($20 ticket) but I told the church to keep $260 of it.  I am not sure if that was the right number to donate, but I ran with it and it is too late at this point.  I am not the kind of person who can just hold on to cash, I never have been – so I make sure I don’t have any on me.  Yup, I am ‘that guy’ who often has to use his debit card for the most mundane purchases, so needless to say this is no longer an excersice of “what-if” I actually have to apply this money somewhere.

What to Do With “Found” Money – Home Repair

While fortune might have smiled on me with the cash, that same morning I looked up while putting on my shoes to see dark brown circles on my dry wall first floor ceiling.  Yup! Water damage.  Awesome.  Luckily, Pops knew a plumber (who looks like your typical plumber – think overweight and hairy) who came over last night and took a knife to my ceiling which just allowed water to pour out.  Listening to the water pour was a horrible feeling.  Silver lining – he found the problem right away and only charged me $165.  I was thinking $600 bill so I was pumped.  Downside – he doesn’t do drywall work so I now have 2 holes in my ceiling and about 30 friends coming over for  party Friday night.  Oh well.

So what to do with $1,000 (minus $165)?

My first thought was pad my checking account (hey I did win it) and the joint checking account with the wife, and then put the remaining couple money towards my auto loan.  But The Wife, who is literally the most frugal person in my life, so “No.”  To say I was shocked is an understatement.  She wants to save it (read: really save not spend on garbage) since we used a couple grand of our long term savings to fully get rid of all Credit Card Debt on the First Birthday of this Blog.

So the money will be saved in my ING Account.  I love my ING Accounts mainly because of the sub-account and naming feature.  So, the bulk of it will be placed in The Wife and My Joint Savings for long term stuff (i.e. bad bad emergency or housing, hopefully the latter) until it is rounded off at the nearest thousand.  Any remaining amount will be placed in our vacation fund.

Do you think I am being an idiot for not pre-paying the Auto Loan? What would you have done?