When I was small my dad did a good deed for a stranger. The stranger’s wife said that as a thankyou she would look after my dad’s kids in her will.

Roll forward 25 years and I have a very unexpected cheque for £15k.

I don’t quite know how to feel about this. I know almost nothing about her, yet she has made this incredible gesture.

I feel that I need to spend it on something meaningful but am a bit short of ideas: We have no need for more bikes, have recently decorated the house, are just back from holiday and I have a watch already.

I’m thinking that it could be used to sort the garden in a lasting way, or pay for the kids to learn a bunch of new skills (eg tennis, swimming, dancing or karate lessons/ cycling or athletics clubs) but beyond that, I’m stuck.

What would you do?

C and H?

Bit boring but invest it and pass it onto your kids?

Pay some of it forward – say a charitable donation, or keep it to one side and do the same as she has done for someone who shows you a kindness.

Then keep the rest for your children.

Some nice bike tools maybe, put some towards something fun for your kids and save a little for a rainey day.

pay down the mortgage. Boring, but you’ll reap the rewards in the future.

A nice holiday for the family then bank the rest for your children.

I’m struggling here.

At the moment it would go to paying off my Wife’s graduate loan or going in the pile with the house deposit, neither applies to you I guess.

Pay a lump off next time you re-mortgage, but that’s a bit boring.

How old are your kids, tennis lessons might be nice, but perhaps £7500 each in some sort of savings thing might be a great start of them when they go to Uni or head out into the world.

top up ISA / stash for a rainy day.. it doesnt have to burn a hole..

then again. i’d buy a car, and put some aside.

A small something to remember it by then pass the rest on to your kids somehow is what I would do.

The small something could I would buy would be a watch, but for some reason a garden bench also sprang to mind.

We have no need for more bikes

I do though.

I feel that I need to spend it on something meaningful but am a bit short of ideas

Seriously – charity is the thing to do with it if you want to pay the gesture on.

play it forward. unless you really need it, invest it now to pay for Uni education for the kids or as a contribution to a deposit on their first flat.

Seriously – charity is the thing to do with it if you want to pay the gesture on.

The problem with charity, though, is finding one that does meaningful work and that doesn’t spend huge amounts on admin…

Great ideas. Thanks.

I like this:

ourmaninthenorth – Member
Pay some of it forward – say a charitable donation, or keep it to one side and do the same as she has done for someone who shows you a kindness.

Sensible head says mortgage but it’s probably not going to have a huge impact for us.

I like the longer-term kids rainy day fund idea.

Mortgage overpayment, or stick it in a Santander 123 account for now and then when they start up next year, a Lifetime ISA for each of your kids (or for you/partner if under 40)?

The problem with charity, though, is finding one that does meaningful work and that doesn’t spend huge amounts on admin…

According to that chart the RNLI spent 64% of their income on charitable activities. Shouldn’t they be using that for saving lives at sea, instead of giving it to local beggars? 😆

Nice gesture and chapeau to your father for whatever he did.

play it forward. unless you really need it, invest it now to pay for Uni education for the kids or as a contribution to a deposit on their first flat.

This. In today’s money Uni is close to £45-50k each.

As its a long term investment you can take a little risk, eg in a managed equity fund within an ISA (in kids names ?). If it where a larger amount I’d suggest buy-to-let property.

IMO don’t out it in a cash / savings account product. In 15-20 years it won’t have grown much and inflation will have taken it’s toll.

I’d buy a camper van and show my kids the UK and Europe. My dad did this and it instilled a lot of good things in us.

OP when the time is right let the kids knkw the mkney was a thank you from someone who their grandad helped, he asked for nothing but those he helped wanted to say thank you

The problem with charity, though, is finding one that does meaningful work and that doesn’t spend huge amounts on admin…

And ignore that table. There is no universal definition of what counts as ‘admin’, it is easily manipulated and anyway, you might easily want that admin e.g. we can multiply admin costs by about 4 by using it to raise public funds

Instead, pick something local that you care about. Means more to both of you

LOVES tangs idea, that is nice and ‘tang’ible

I would put it in a stocks and shares ISA for kids. Kept in my name for now and look to withdraw it towards their 18th.

Tang has it.

I would put it in a stocks and shares ISA for kids. Kept in my name for now and look to withdraw it towards their 18th.

This is I think the best idea. Inflationary pressure on coke and hookers should make your kids’ 18th parties legendary!

To the Casino!!!

[video]http://www.youtube.com/watch?v=0Zj_9ypBnzg[/video]

If you don’t need it now, put it in a stocks and shares isa and help yours kids out when they need a deposit

Learn how to fly a glider or aeroplane.

Don’t pay off a loan. It’ll be swallowed and meaningless.

Buy the best VW T5 that you can and take it EVERYWHERE. Buy a side/tent awning that extends it into a sort of huge tent sitting room. Heaters etc included.

Make and take great memories in it.

No offence but ‘give it to charity’ – a good part of that will go onto admin/wages/adverts/upkeep of said charity. Enjoy it and do good charitable acts like volunteering, soup kitchen work, mentoring etc.

This is the only pic I’ve got. This beaut took us everywhere for years, my Dad made sure we went up all the passes he could find! In fact, age 9, we encountered the TDF in the Alps, which instantly hooked me on cycling. The last trip I went on I must have been 15 and had a fiery affair with an older French woman in the Pyranees. All those times and more, are literally, priceless.

Memories +1.

If your kids remember great times. Those all go to forming great characters and future adults

I’m sure the person who left you the money would have wanted you to enjoy it as a token of gratitude to your father therefore as grateful and fortunate as you might feel you shouldn’t feel obliged to give it away to charity or something like that. If that’s what you want to do then great, but in the same token don’t feel guilty if you decide to treat yourself, or your family with it. If I left someone some money i’d do it so they could benefit from it and would want them to do something nice for themselves with it or use it to pay down their mortgage or something like that. If not I might as well just give it to charity myself.

Tang definitely has it. If you are the kind of people who would get good use from a van then do it and enjoy the time with your family.

If you have some charities you feel strongly about then make a small donation every time you use the van.

Another vote for Tang here

cries at Tang’s pic

Similar to Tang but I’m not into camper vans so I’d buy a GT86 and go touring in that, staying in B&B’s.
My kids are only 3 & 5 though, any bigger and it might get a bit cramped…

Tang’s pic makes me want to buy a camper van. You must have many happy memories

Love the camper van idea! We had a Talbot harmony as kids and set the brakes on fire descending the galibier. Wife works lots of weekends but starting with a hire van might be a winner.

The good thing about T5’scis they don’t lose their values fast.

On older split screens etc. I drove one a few times. I always tried avoiding driving it. A lovely thing but tiring and painfully slow getting long distances in modern motorway traffic.