Yesterday I got an email from Ramit Sethi who asked “What would you do with an extra $1,000?” And in case you don’t know who Ramit Sethi is – he’s the successful blogger/personal finance guru behind iwillteachyoutoberich.com. The email made me think for a second and reflect on what I’d do with an extra 1,000 bucks. Despite a well written email and the incentive for FREE money, I still didn’t sign up to be part of the experiment.
And in case you missed it, here’s the email:
It’s funny how people talk about wanting to lose 10lbs, but when you ask them if they’ve changed their diet or hit the gym, they say, “Well, I was really busy last week…”
Same with money. How many people do you know who talk about what they would do with an extra $1,000/month…but if you ask them what they’ve done to earn more, they start mumbling about how they’re “still looking for an idea…”?
I decided to do an experiment.
What would you do with an extra $1,000? Would you use it to pay off debt? Take a trip? Sock it away in your savings account?
Let’s find out.
I’m giving away $1,001 as an experiment to see what one of you will do with it. No catch. All I ask is that you tell me how you spent the money.
(Why $1,001? Because Indian people always add an extra 1.)
Which is funny because I haven’t heard from the guy in a few weeks, and especially since I haven’t seen him give away cash for FREE ever since I became part of his mailing list. But hey, he’s got an experiment to conduct and $1,000 dollars is a pretty good incentive if you ask me.
So just in case Mr. Sethi is reading this right now, I’d like to go ahead and answer his question. Yes, I can always use an extra thousand dollars! I’d probably save a one-third of it, like a dork as always, and the other half of it I could easily spend in ways ways such as these:
Actually scratch that….I’d actually only spend it on one thing at the present moment:
I’m determined to take my golf game to the next level, and with a set like this it would definitely be an asset to my golf game. And my old set is just plain ugly and worn with a few bent irons. :)
This email from Mr. Sethi was interesting since every week people are looking to strike millions on the lottery drawings. I already shared my answer of what I’d do if I won a $1 million dollars. The answer to this question is just on a smaller scale.
The truth is if I won any kind of money without having to work for it (including this extra $1,000 dollars), I ‘d just go and blow some on whatever I wanted at that present time. In this case I really want that golf set above. And as the saying goes – “easy come, easy go”.
What would you do with an extra $1,000 dollars?
Oh and in case I don’t win the extra $1,000 dollars, I’m certain that I’ll setup a donation fund called – “Eddie’s Golf Fund.” Donations are welcome. Every dollar will help towards me becoming a better golfer. And if I get really good, I’ll throw a charity golf tournament together! :)
In case I’m not the lucky winner, there are alternative ways for me to obtain a thousand dollars – I can always borrow the money. There are plenty same day payday loans locations around my house who are more than willing to lend me money until the next payday. I just have to be extra careful, and ensure I pay the money back on time. :)