See how other readers would use a grand—then share your own grand ideas by tweeting with the hashtag #ifihad1000.
In coming up with Smart Things to Do With $1,000, MONEY put the question out to our readers via Facebook: What smart—or not so smart—thing have you done with that amount of money? What would you recommend someone else do with those funds? Or, what would you do if by some amazing stroke of luck, a grand fell magically into your lap today?
Some of your answers follow, but we’ll also be adding to this post in the next few days. So you still have a chance to share your money move, be it spending or saving, in earnest or good fun. Share your $1K fantasy with us on Twitter, using the hashtag #ifIhad1000.
“The first thing anyone should do before investing $1000 is to pay off revolving credit (credit cards) that’s a 15% to 20% return.”
“For a $1000, I purchased Bank of America stock.”—Natalie TGoodman
“It’s all about goals. Fund an emergency savings account, pay off debt, fund a retirement plan at least up to the employers match, pay down/off mortgage, save for college, etc. Needs before wants.”
—Nereida Mimi Perez Brooks
“$1,000 would go into my money market as it really isn’t that much.”
“For about $1,000 we purchased a last-minute 5-day Bahamas cruise for our family of four during the off-season month of September.”—Marc Hardekopf
“Put it in a casino and it doubled.”—Norma Sande
“I was given $1000 from my grandpa when I went to college. I started trading stocks in ’10 and made about $10,000 from it. Then in 2011 I bet it all on one stock with no stop loss, and it crashed overnight when the FDA shut them down. Lost 90%.”—Jaycob Arbogast
“I would bank it to have savings for a rainy day.”
—Naomi Young Hughes
“With $1000, all small debts were paid, which then made cash available to pay off a larger debt.”