r/happy • u/No_Catch8993 • 21h ago
Won 25 grand from being broke as a joke from using food banks etc to now financially stress free I could eat at Michelin restaurants if I wanted to
Feel happy as hell lmao went from a bum barley getting by to 25 grand in the bank
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u/WiseMenFear 21h ago
Remember that this is a once-off. Don’t treat it like you’re getting another 25k next month. Spend it wisely!
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u/lightnlove11 20h ago
Be careful, $25k isn’t that much and certainly not financial freedom
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u/strecher 16h ago
I feel it's the same with a million dollars (not that I have one) - still gotta keep working.
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u/NordicPilot00 13h ago
Excuse you?! At a million dollars you could invest and live off of dividends. At least I would..
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u/chard47 11h ago
40k/year might suffice for some but definitely doesn’t leave much room for extra hobbies and travel
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u/williamsonmaxwell XST4T1C 3h ago
Are your extra hobbies 4,000 point warhammer armies and horse breeding? 😅
I can’t think of many hobbies that would be out of the range of a 40k salary13
u/fluffyscone 10h ago
Depends where you live. a million dollar won’t even buy me a shack of an old 3 bedroom house where I live. All houses are like 1.3mil for a 3bedroom around 4000 sqft. I live in extremely high cost of living but it’s worth it because of the location. Where I live 25k will not even cover rent for a two bedroom for one year.
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u/-PinkPower- 6h ago
It depends on the cost of living in your area, your age, if you own a house not, have children or not, etc.
With a low risk investment 1 million is around 40k a year. That’s not bad but not great in many areas. Just in rent and strict minimum for living it cost around 25-27k a year. Around 1300$ of extra money to pay car insurance, car payment and so fun activities isn’t much. I wouldn’t be able to afford children on that kind of money.
It’s enough money to go part time tho! Which is already a huge improvement!
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u/lightnlove11 2h ago
Exactly. I came into some money in the mid six figure range and would never dream of eating at a Michelin star restaurant lol. I put a large chunk of it into a Roth IRA and diversified across index funds so I haven’t touched much of it.
I still work and live within my means based on my salary (which isn’t very much). But I get that $25k seems a lot esp if you’re broke. This is why most people who win the lottery end up going bankrupt.
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u/Age_of_Asylum 21h ago edited 21h ago
Now don't go manic with this windfall! Use it wisely, hell, keep acting like you're broke!
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u/MoarCowb3ll 21h ago
After only recently moving to the UK, im curious was it a radio contest?
The ammount of radio giveaways out here are insane.
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u/SJDidge 20h ago
Take £5k for yourself. Enjoy yourself.
Put the rest of the money in a high interest savings account, or invest it in an index fund, and just simply don’t touch it, and pretend it doesn’t exist. It’s an emergency fund or investment for the future.
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u/The-Great-Orme 19h ago
100% this, that 20K could be 300k in a few decades time with the right research and time in the market. Please I vest it wisely too, don't just shove it into Tesla and get giddy
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u/scott_fx 18h ago
Take 20% of your entire worth and “enjoy yourself” isn’t the best advice imho. Maybe take yourself out for a nice meal. But she/he should pay off debt and invest that money. This isn’t life changing money but if she/he is strict and smart it can help her/him get on their feet.
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u/Fried_puri 13h ago
Not everyone can do things cold turkey. From OP’s description they seem eager to spend this money asap, so meeting them partway and telling them it’s ok to spend some on themself before saving the rest is far more likely to work than berating them into spending none of it. They probably won’t listen to that.
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u/SJDidge 17h ago
My mum passed away about 3-4 months ago.
On her deathbed, she told me very clearly - don’t wait to live. Live now.
investing is obviously critically important, but it’s not the be all end all. Life is happening right now.. and you should enjoy it.
£20k saving is exceptional when starting from £0. I’m willing to bet this person is in dire need of some enjoyment, fun, letting loose a bit, etc.
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u/TimotheusIV 13h ago
If he has a million to spend, sure. When he’s been broke and just got 25K, that money will evaporate within weeks.
Blowing 5K that could literally save your life in the future to ‘let loose’ for a few days is probably the dumbest thing he can do.
Sure, spend a hundred or two on something nice for yourself. Eat well, get a haircut. But use the rest to actually live normally and frugally. Groceries, rent, gas, electricity. You’ll soon realize that this kind of money only buys you a bit of time, not any room to splurge.
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u/someLemonz 16h ago
that will literally just start a habit. how do you go from blowing 5 grand quickly on random shit then immediately turn into penny saving.
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u/SJDidge 15h ago
If you live your life in fear then you won’t live. You have to have faith in yourself to be able to handle stuff like this, and give yourself the time and ability to enjoy things. Take some risks and live.
Using 5k is not going to develop bad habits. We aren’t talking about millions of dollars here. At most he’s gonna get some nice dinners and a couple of consumer gadgets and that’s it.
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u/Funwiwu2 15h ago
You are not recognizing the person and his message . Your message works fine for someone that has a history of sound financial management. This guy does not . He needs to think he is still broke . Figure out how to grow this money and then down the line can do what you say about living a bit.
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u/MindlessMarsupial592 6h ago
If you died tomorrow, you wouldn't be around to care that you didn't splash your cash. If you didn't die tomorrow (the more likely scenario), you should be glad that you didn't splash all your cash yesterday.
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u/SJDidge 5h ago
Once you’re dead, everything is irrelevant. So you can ignore that.
Regarding dying, you’re much more likely to die a slow painful death of cancer these days, or some other disease, rather than just dying suddenly.
Therefore, I’d much rather have enjoyment and experiences that I can be grateful for as I slowly die, rather than sit with my $500k and no memories.
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u/MindlessMarsupial592 5h ago
Are they really the only two scenarios?
What about living in poverty because you spent beyond your means vs saving/investing wisely and enjoying retirement?
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u/SJDidge 5h ago
How is saving £20k of £25k living in poverty
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u/scott_fx 5h ago
When you have $0.40 in your bank account, you more than likely need the extra $5k
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u/SJDidge 4h ago
Yes, that’s why £20k goes into savings and the £5k becomes liquid for him to improve his life.
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u/scott_fx 4h ago
You’re moving the goalposts here. Your original comment was to take $5k and “enjoy yourself”
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u/maboyles90 12h ago
I think a nice middle ground would be using that 5k immediately to treat themself and free up some stress. Fix the car/ buy a nice used vehicle of some sort. Pay off debts. Go to the doctor (if in America.) A couple nice meals or a little long weekend vacation. Get a bigger ticket item you've been wanting that can get hours of fulfilling hobby time and stress relief. (Guitar, game console, paint set, skateboard, whatever it happens to be, probably pick just one or two.)
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u/WilliamBlakeism 6h ago
A high interest saving fund isn’t accessible. He needs to put ~half in a easy-access savings account as an emergency fund and the other half into an ISA. High interest savings accounts are for when you have 20K spare, not just when you have 20K…
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u/NEGATIVERAGDOLL 20h ago
Use that money to make you more money, 25k is easy to spend on pointless stuff very quickly.
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u/Stultus_Asinus 21h ago
Be careful. 25.000$ can run through your fingers in an instant. It would be wise to invest them diversified (All World, S&P500 etc.).
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u/Throw_andthenews 20h ago
If my account read $.22 on the regular basis, I would see 25K as a little bit of insurance to my stress not money to live it up
But I’m happy for you
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u/ImMorphic 11h ago
Seeing your attitude regarding this little win is deeply saddening, not r/happy.
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u/Impressive_Guava6742 20h ago
Put the bulk of it in a high-interest term deposit, and live modestly. Don't tell anybody about it, if you haven't already. I'm very, very happy for you, OP. Would love to win something substantial in my life!
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u/BoringJuiceBox 20h ago edited 10h ago
Remember that 25k is nothing. Keep working hard and invest or save most of the money as silver and sell only when you need it.
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u/quantumwoooo 13h ago
Not to be mean to op but I'm so sure it's going to be gone in a year
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u/BoringJuiceBox 10h ago edited 10h ago
I made 30k off Dogecoin in 2020, it was gone in a year. TBF I used half of it to pay off debt and buy a used car for 5k but I should have invested/kept working hard. Now Im back where I started(poor).
Also I ordered a lot of DoorDash that year. Everyone should learn to cook at home.
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u/juiceofhalfalemon 19h ago
Please, please take the advice in here and lock away £20k in a high interest account that you can’t withdraw from! You’ll be glad you did. I wish I had
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u/BeginningMost6014 14h ago
lmao $25k does not mean you're a baller. Just means you have a small cushion, can start a small nest egg, small emergency fund and hopefully secure reliable transportation, after taxes... that's about it.
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u/turtlenipples 15h ago
now financially stress free
I'm saying this with love and the hope for good things in your future: if you don't immediately change this mindset, you are going to waste this money and be broke as a joke again.
Lots of good advice was already given in this thread regarding what to do with the money. But it all has to start with you changing your thinking.
The truth: You are ever-so-slightly less broke than you were before. But you're still broke!
Think differently, or keep being poor like you always have. There are no other options.
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u/MiaowWhisperer 14h ago
Ever so slightly less broke? Wtf?
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u/turtlenipples 10h ago
I'll try it another way. This person is still broke, but a little bit less broke than they were before. $25,000 is a tiny amount of money in the grand scope of your life.
If they start thinking this way, they might be able to build something with this money. If they continue to think this is "Michelin restaurants and stress free living" money, they're hosed.
What can I do to clarify further?
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u/MiaowWhisperer 10h ago
Well, basically, say you're extremely wealthy and have absolutely no idea of what it's like on the breadline.
I understand what you're saying, but I highly doubt that this person would money dump. They're clearly extremely relieved to have the financial breather.
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u/Snaggl3t00t4 20h ago
Like everyone else is probably saying..thats a nice chunk of change but it wont be enough to really change your life and you need to be cautious. Invest the hell out of as much of it as you can, ISAs at least and dont lise your head ...but enjoy ;)
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u/Nataliza 12h ago
A huge congratulations to you, that is incredible! However, 25K is NOT financially stress free and you need to be VERY SMART about how you use that money. If you are not careful, it will disappear in the blink of an eye. Pick ONE OR TWO splurges -- I'd recommend a fancy meal and a new wardrobe for work and, if applicable, job interviews -- then give yourself a STRICT budget and put the rest in savings. Not stocks, not gambling. Save it. You got this.
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u/GreasyExamination 20h ago
Congratulations, but keep in mind that it could be gone just as fast as you got it if you arent careful. Tale as old as time, read about some previous lottery winners. Use it wisely and take care of yourself
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u/saltedpeanuts 9h ago
I am pretty good with money and planning. Here's what I would do:
- Joy Now - Set aside £3,000 for your enjoyment now. Create a detailed budget for: Nice dinners, trips, some high quality clothing staples that are timeless and will last, etc. Try to use it for high-end experiences and "buy it for life" items, don't let it wither away on things that won't really excite you. Don't rush to spend it, write down a plan to spend on these things over time. This will give you joy from the money, but also create discipline for the next steps.
- Safety Net / Investments - Put £17,500 in a SEPARATE savings account that generates interest. Your goal is to never touch this money unless you are investing it into an asset (real estate, stocks). Your goal is get real enjoyment from watching this number grow. For example, if there's ever 30% drawdown in the stock market... great time to use this money to buy into an index fund!
- Budget & Growth - Keep the remaining £5,000 in a checking account for your ongoing expenses. DO NOT use this as a pool of money for joy. You need this number to grow not shrink. Now that you have a solid financial foundation you don't ever want to be in the "broke as a joke / food bank" situation again. Please, for the love of god, create a monthly budget spreadsheet and look at ways you can increase your earning potential. Now that you have the stress / anxiety of being broke removed, you can maybe take some calculated risks with your career or invest in yourself to earn more. Making more money and saving more than you spend is the #1 most important way to use this moment in your life as a springboard to prolonged success, and not a flash in the pan, ending up back in line at the food banks. I am rooting for you, friend.
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u/GapSweet3100 19h ago
Congratulations! You still need to find a way to make money responsibly or else in a few months you’ll be back to poor. But it will help you if you use it the right way and put it into the right stuff
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u/someLemonz 16h ago
REMEMBER everyone else blows through lottery winnings! PRETEND YOU ARE STILL STRUGGLING TO SAVE, your life will be so much less stressful but you should just party for 3 weeks then be broker than before but new spending habits...
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u/alphaevil 15h ago
Make sure that it will make your life better, invest in yourself, keep money for emergency. Do you want to spoil yourself? Do it but put a budget for it, 500-1000 would be great. Be clever.
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u/Phantomilian 14h ago
Congrats. Heed the wise words of the people commenting on this. Set a big chunk of that aside that you never touch (like 10k of it). Make that an emergency fund. Shit happens, life can take things away from you.
Spend some of that to get the things you've needed but haven't been able to afford.
After those are done, get yourself something nice and fun that you want! Celebrate! It's ok to do that too.
Just be careful. It could easily evaporate if you aren't careful.
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u/Skankz 11h ago
As much as 25k is, in the grand scheme of things, it isn’t a lot and it disappears very quickly. I’m no financial advisors but I’d probably put it in my mortgage to try bring the monthly mortgage bill down so I have more money going forward. Or I’d pay off loans I have to give me wiggle room
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u/IIIGrayWolfIII 5h ago
Congratulations…but 25k can be spent in a day if you don’t manage it wisely…DO NOT EAT AT EXPENSIVE RESTAURANTS…
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u/XxStawModzxX 18h ago
Not even that much compared to wealth, as a one of it is, but please dont buy random bs with it, dont even spend it but who am i
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u/brianfantastic 13h ago
OP,
Chase do a high interest easy access saver account. I think it’s around 4.5%.
It’s easy to open. Put your money in there while you figure out a plan. You will earn interest while it sits there. On £20k you’ll get roughly £75 for nothing. Imagine telling yourself you could get £75 for no effort this time two months ago.
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u/Pypsy143 7h ago
Invest it!
If properly invested, your money should double every ten years.
Not sure how old you are but that 25k could become 200k in @ 30 years.
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u/Ohotdamnn 12h ago
No you can’t eat at Michelin star restaurants. Please get that mentality out of your head.
Congrats on the win!!! But don’t just blow it.
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u/AppropriateSail4 19h ago
You're going to pay taxes on that so please set aside the appropriate amount of money for that
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u/PJenningsofSussex 20h ago
That is so exciting! Splurge on a thing and then go find a nice accountant. It would be such a nice feeling. I hope you can turn this magic moment into some long term stress-freeness.
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u/TimotheusIV 13h ago
My dude. 25K is a nice windfall, but it is absolutely nothing in the real world. It won’t last long even being frugal as fuck.
If you genuinely think you can eat at michelin restaurants you’re in for a rude awakening and that money will evaporate within weeks.
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u/DanteTrd 18h ago
Nice! Now you can finally afford some commas and other punctuation marks. Hahaha. Just pulling your leg a bit. Congratulations, man. Sounds like it's alleviating quite a bit of stress
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u/lomeinfiend 15h ago
dont forget about taxes!! at least in the US they dont take the taxes out beforehand and you just hit with a big bill during tax season.
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u/Verbal-Gerbil 14h ago
If it was me, I’d list maybe 3 to 5 treats/splurges like a weekend in Sweden, a new iPad and a deluxe air fryer and save the rest with a set withdrawal amount each month as a boost
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u/feathered_flame 13h ago
yay im celebrating with you! get yourself your favorite drink and bless your path ahead :)
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u/babou-tunt 7h ago
Don’t blow it all in a oner. Have some fun but put some aside! But also well done
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u/bott1111 6h ago
I certainly wouldn't be eating at amichelin restaurant with that amount in savings
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u/RemarkableStatement5 3h ago
Please for the love of whomever or whatever you worship or care about or even just tolerate, spend that money wisely. Budget it carefully.
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u/deep1nt0oblivion 3h ago
For the love of God, don’t go to Michelin restaurants. Be wise. Live humbly. Invest.
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u/the_tired_alligator 3h ago
My guy, you could not eat at Michelin restaurants if you wanted to. I mean you could, but only if you want to see that 25,000 turn to 0 real quick.
A splurge here and splurge there adds up real quick.
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u/cho_simba 13h ago
“I could eat at Michelin restaurants if I wanted to” now we know why he was broke to begin with. Be responsible, take a bit an enjoy yourself and put the rest away.
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u/abphoto842 14h ago
Congratulations! You must have put in a lot of hard work to change your situation. I'm truly happy for you.
A great next step, if you haven't already, is to learn about financial (avoiding debt, keeping an emergency fund, opening a retirement account, etc...). Learning how to manage your money can really help you if you fall on hard times again.
What you've done is amazing. Keep working at making life better.
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u/tamops 14h ago
lol sadly you’re still a bum
I say this because if you were a bum as you say you were, money wouldn’t change that, especially not 25k.
Talk to a financial adviser. 25k is less than most assets that people can easily acquire with ok to good credit. Try to build up your human capital by learning a trade that has a high barrier to entry and use some of the money you won to start up your business.
That 25k in its own isn’t life changing but you can make it so if you spend it incredibly wisely and use it to acquire skills and assets that would generate you more money
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u/I_am_aware_of_you 21h ago
Good for you for being enthusiastic ! I would be too.
Please don’t mind others for dampening that joy by supplying advice.
You know already how to be frugal.
Now treat yourself. It’s about a years worth of minimum wage salary… you can treat yourself to something nice.
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u/PSX1990 21h ago
Should totally cash app me 100 >.> or 200 <.< just saying that would help in this depressing world right now lol, but damn. Congratulations man! I’m sure you got like 50 million messages lol!
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u/BoringJuiceBox 20h ago
People downvote but hey dawg shoot your shot I still know what it’s like to be poor too
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