how to spend my $5000?

rupeeman · #1 (**permalink**) 05-08-2008, 10:06 PM

hi, i know that's stupid to ask but i just want some quick ideas on how to spend my $5000 which i won yesterday night playing poker...Be Fast!

Tree0164 · #2 (**permalink**) 05-09-2008, 02:58 AM

Well how about saving it or paying off any debts you have.

As my mom would say don't let money burn a hole in your pocket.

fruitbowlk · #3 (**permalink**) 05-09-2008, 03:33 AM

If you have debt pay it off. If you don't have a EF start one. IF you don't have an IRA Roth Start one.

responduser · #4 (**permalink**) 05-09-2008, 05:01 AM

Quote:

Originally Posted by rupeeman

hi, i know that's stupid to ask but i just want some quick ideas on how to spend my $5000 which i won yesterday night playing poker...Be Fast!

Invest it in stocks if you have done this before.

Why I am telling you this because investment in stocks is a risky matter and if you have no idea about where to put your money, you may end up with empty pocket.

if you have done it before, then you must know how much you can earn from this. because I think this the right time for investment in stocks.

Broken Arrow · #5 (**permalink**) 05-09-2008, 05:06 AM

CDs. If you have to "be fast", you may need to lock it away from out of your own hands.

rennigade · #6 (**permalink**) 05-09-2008, 07:40 AM

save a portion and spend the rest on yourself. you won a pocker game, so it's not like it's money coming out of your pocket. its all the poor suckers you beat in cards.

Snave · #7 (**permalink**) 05-09-2008, 09:37 AM

Save it for the next time you lose.

FrugalFish · #8 (**permalink**) 05-09-2008, 12:56 PM

Buy a tank of gasoline

Broken Arrow · #9 (**permalink**) 05-09-2008, 12:57 PM

Quote:

Originally Posted by FrugalFish

Buy a tank of gasoline

*SNORT*

maat55 · #10 (**permalink**) 05-09-2008, 01:00 PM

Quote:

Originally Posted by fruitbowlk

If you have debt pay it off. If you don't have a EF start one. IF you don't have an IRA Roth Start one.

I second this.

PrincessPerky · #11 (**permalink**) 05-09-2008, 01:12 PM

If you are a frequent poker player..and you tend to keep a balance of a couple hundred..do NOT go below that or you will have to drop down to cheaper tables (unless of course you have CC debt, in which case poker is a lousy place to leave a couple hundred) each table plays different, so if you are thinking of moving up a table don't assume winning 5K makes you as good as them. take your time to get used to the typical players.

disneysteve · #12 (**permalink**) 05-09-2008, 08:10 PM

Quote:

Originally Posted by Snave

Save it for the next time you lose.

Exactly what I was thinking. This time you won $5,000. How much have you lost in previous outings? If you like to gamble, set a budget and keep a stash of money for that purpose. Sometimes you'll win. Other times you'll lose. Just don't elevate your level of play just because you won big this time.

myrdale · #13 (**permalink**) 05-09-2008, 08:40 PM

Quote:

Originally Posted by Snave

Save it for the next time you lose.

I concure.

Bookie · #14 (**permalink**) 05-10-2008, 04:10 PM

Income tax.