New Experiment: How would your partner spend $1,000?
Today, a $1,001 gift for you.
A few months ago, I ran a crazy social experiment. I gave away $1,001 (Indians always add an extra $1) to see how one IWT reader would spend it.
Here’s how he SAID he would spend it:
- $500 into our baby’s 529 fund
- Then I think we’d use $300 for a nice trip out to a bed and breakfast somewhere in wine country, Virginia
- Then another $200 towards charities of my friends’ choice
- And the last $1.00 would go to a new lottery ticket! (In May, of course ;)) I figured if I got lucky enough to win this $1,001 in the first place, I should probably try and extend my good fortune!
And here’s what he ACTUALLY did:
- $200 — Bed and Breakfast trip (1 night at the B&B and then tkts to James Monroe’s house)
- $350 — 529 College Fund (will be xfered in as soon as baby is born and I get ss#)
- $150 — Donated to two charities: Autism Cares and Charity Water
- $300 — Set aside for taxes – something I forgot to do earlier
- $1.00 — Mega Millions lottery! (I lost)
Pretty interesting, actually. I thought people’s behavior would diverge a lot more (n=1) but the big insight was how he forgot to think about taxes.
Today, I’m giving away another $1,001.
This time, I want to see how you’d spend your money — and how you think your partner would spend it.
Your partner could be your girlfriend, boyfriend, husband, wife, roommate, whatever.
As always, no catch. I’ve written the check and I’ll send it to one couple on 8/14. Spend it however you want.
All the details — plus sign up in 30 seconds to win $1,001:
If it were up to personal-finance “experts,” we’d never spend a penny on ourselves. We’d save 80% of ...Read More