What would you do with a free $1,000?

I’d send that money in to pay down my student loan.

This is post is funny since last week people were looking to strike millions on the mega millions drawing so I had already thought of an answer for lottery type winnings. The truth is if I won any kind of money without working for it I would just go and blow it on whatever I wanted…probably a 1001 dollar steak. The saying is “easy come, easy go”.

I would invest the $1001 in my freelance business:
- I’d use $200 to register for an art/craft show in LA in July to show and sell my work
- A little more would go towards buying/renting supplies for the show display to make my booth appealing to buyers
- The rest would go to paying off the iMac I just bought (with no interest financing, woot)

Dude. This is such a neat idea – looking forward to reading other responses and seeing where the money gets used. Thanks Ramit!

Fly out to a convention/workshop in my industry. Use the extra funds to try and take a few attendees/speakers out to lunch.

I will use it pay off a credit card debt so I can cancel that card and stop worrying about it. I had about 5 credit cards and trying to cancel all but 2 of them (just down to 1 more now) because I really only need a Mastercard and Visa. Then after that, I can worry about other things like my freelance business which I plan to focus all my energy on since my last month was occupied with a huge move.

Easy-peasy….I’m getting married this October. It would go straight into that wedding fund.

I’d use it to enroll on your next Earn1k course.

I’d use it to enroll on your next Earn1k course. (Investing in myself)

I’d use it to invest in developing two new income streams:
1) offering part of my home as a vacation rental suite (already in progress, would pay for installing a new bathroom sink) – about $450
2) Creating a home voiceover studio for my daughter and I to begin a side business recording voiceovers, individually or as a mom & daughter team. I’ve gotten advice on how to set this up inexpensively, but still sound professional – about $500
3) $50 to give to charity – my current favorite is clean cookstoves to help improve family health in the developing world and slow down global warming.
Thanks for the opportunity, Ramit – great food for thought.

I’m turning 20 on April 23rd! I’m currently reading your book, and as a birthday gift to myself I’ll set up a Lifecycle fund on my IRA.

I would use it to pay down my credit card debt so I can worry less about it and concentrate more on earning more.

I would put the money in our money market account to replace what we just withdrew to pay our property taxes.

If the email confirmation would ever arrive, that is.

I will use it to pay extra to my mortgage since it would be my greatest leverage.

In Mexico the mortgage rates are significantly higher than in the US. Mine is 11.4%, so it doesn’t make sense to invest it to get 8% return.

Paying an extra $1,001 dls would mean to shave off at least 5 months at the end, so I would use it for that… before my wife finds out I have extra money. Her answer would be “shoes” …

I would add it to my savings, to be able to pick up a rock for my GF sooner!!!

I’ll follow my general rule for any “windfalls” (tax refund, gifted money).

25% to mortgage
25% to non-retirement mutual funds (retirement accounts are handled via other means, fully funded)
50% to fun times, most likely my travel account

I’d invest in my education: I’d use it to enroll in your Earn1k course.

Spend it on a vacation.

I can’t help but feel late to the game… I know in the spirit of IWTY, I should say something sexy. credit cards! Savings! Investing! In all honesty, I would give it to my lawyer to continue my divorce. I have enough money for one more trial (child custody, this wednesday), and after that, I might have to do the assets by myself. if i don’t get custody (I didn’t last time), im going to have to just accept the courts decision, and go to trial without a lawyer later on… ah well

I would put the $1,001 in my savings account.

I would go skydiving and save whatever I had left over.

I’ll be graduating from university this June so I’ll use the $1001 towards my student loan (100% of it).

I would spend $250.25 on 4 different advertising channels for my business, to try and figure out the best way to reach potential customers.

I’d buy a round trip ticket from NY to California and fly out to treat you to a lunch. I’d like to pick your brain on this business venture I have recently started as a way of earning more money on the side.

Anything left over will go towards paying for a booth at a small business conference in NYC in May. (small business owners in NY are my target market)

I would use it to pay off my college loans.

Recently decided to try to pay off the $21,000 left of my student loans by my birthday this October to be entirely debt-free. Planning to make a $3-4k payment each month for the next 6 months. That $1,001 would go straight towards being student loan free.

$101 for a charity that gives out micro grants (kiva.org)
$320 for a 10-pack of Thesis licenses for WordPress, which allows rapid development of great websites
$80 for additional tech books to eval other web technologies (Joomla, Ruby, e-commerce)
$500 for a professional painter to paint the interior hallway/exterior of my 4-family rental property.

I do have both of your courses. I started with FYFPI last August. I have found my first profitable idea and have been working on it since and totally love it. I recently purchased EARN1K to bring my business to the next level. This month I am expecting to make about $600 with your strategy and anticipate it to go up further as I go through the EARN1K course work. I even started to hire people to help with certain tasks. So it definitely works for everyone that puts the effort in! Thanks Ramit.

I will put it on an index fund and when it makes another $1001 I will give it away in a social experiment to find out what people would do with a free $1001 check.

Ramit,
Every time I read your blog I expect to see extraordinary material. This is the first post to disappoint me.

In the past you’ve recognized thoughtful and creative responses — I immediately signed up and started thinking of what I would do with $1000. But the contest seems to be based solely on referrals. This goes against your message of attracting people by providing lasting value. I gladly tell my friends about your advice and techniques, but not about $1000 sweepstakes.

Have fun with the experiment. It’s interesting to read what other people would do with the money. Good luck to everyone!

Why would anyone would pay me a 1K for free? All the posts just refer to what they have wanted to do even before the 1K.

What I’ll do?!! What I’ll do?!! Hummm. I’m thinking!!! It’s confusing thing when we say about money. Honestly, it’ll be great to get 1.001$ for free, and it will be more excited when I convert it to my currency (1 Dollar equivalent to 6 Egyptian Pounds) So, when I win a 1.001$; I’ll pay a part of them to Somali children, and the rest I’ll use it to have fun

I would put it together with savings to invest in a rental property to get our family a little closer to realising our dream home = )

I would use the money to help pay for a medical procedure that is not covered by insurance in our state (even though it is FDA-approved and may save my daughter’s life). I will save, earn, or borrow the money, regardless, but $1001 would certainly be a jump-start towards paying for this procedure.

If I didn’t have this procedure to pay for, I’d use the money to:
–Take a class in creative writing
–Buy new wrist braces for my carpal tunnel (so I can keep writing)
–Sign up for oboe lessons (I’ve always wanted to learn to play the oboe)
–Take a long weekend hiking/back-packing trip with my husband and 3 dogs. (I know you aren’t an animal-loving person Ramit, but some of us are just wired that way.)
–If I could stretch it any further, I’d take a yoga class, instead of doing it at home with a DVD instructor.

My wife and I would use it as seed money for our next “business” venture based on Ramit’s classes.

This is a pretty easy one for me.

The first thing I’m doing is taking 201 bucks for just having fun and doing whatever the heck I feel like it with. Ok, it’s not a lot of money, but it’s a nice dinner or a plane ticket to see my girlfriend or a better iPod that I wouldn’t have before. something frivolous (or useful, like some new dress shirts and ties) but selfish nonetheless.

I’m taking 200 and applying it to 2011′s amount in my Roth IRA, (note, not current year).

And I’m putting 200 in to my savings account, which, even though it doesn’t get much interest at all, I use for my Emergency fund and short -medium term goals.

Leaving me 400 dollars. I have two CCs I pay off each month, so forget that. My next highest interest debt is my car – so maybe that’s where I would go with it. And then there’s student loans, which I don’t have much there, but maybe a little extra now saves more later.

1001 is not a “life changing” amount – unless we’re talking an extra 12k a year – which for me, would be – so I think it’s important to have a little fun and use the rest to pay down debts or put to goals. Earn 1k would be great here but i’m not sure there aren’t more pressing things for me.

Or use it for a week’s vacation to work on the novel i’ve been writing.

It would definitely go to getting me a month ahead on my bills

I would send a $1000 payment to my credit card… paying it off. Another one bites the dust!

I’d use it to register for sign language courses at the college near me. This would be a valuable skill to make me stand out in my field. I’m in the first course now.

I would use $800 to pay off the remainder that I owe on my vehicle so that I can finally be driving for free until it dies. The remaining $200 I would just have fun with as I have always believed when you get something you didn’t expect you should have a little fun you wouldn’t normally have been able to otherwise life is too boring. Slowly plugging at this debt so I can get out of it.

I would partition the money based on the 5 categories I’ve divided my life and spend it equally: social, financial, mental, spiritual, and physical. Socially, I’d buy a groupon I just saw for paddleboarding lessons for me and a friend. Mentally, I’d buy evaluations of a couple personality indices I took, (Kolbe A index, strengthfinder). Spiritually, I would find something relaxing to do. Physically, I’d put it towards an expensive crossfit instructors certification course. Financially, I’d put it towards my first investment property.

I would put it all on my car loan to knock it down to $7,000!

I would make an extra payment on my student loans ($300)
Pay medical bills ($300)
Take my wife to a nice dinner ($150)
Extra deposit in IRA ($200)
Blow it on books ($51)

I would put it toward my savings account for a diamond engagement ring for my awesome girlfriend!

Invest in my business.

I’d buy a lens for my camera, which would help me make $1500/mo on the side. Also, I’m Indian, so I’d save the extra $1.

I would put it into my plan. In the last 6 months I paid off all credit cards (12,000) fully funded my 2011 Roth IRA, emergency fund, maxed my 2012 401(k), secured a huge raise, and have averaged 815 dollars of income on the side

That means this goes onto the rest of my debt snowball, student loans (27k to go!)

It would all go towards paying off my husband’s hospital bills. Luckily I’ve already set up automatic payments and we’re well on our way to being debt free!!

I would use it to pay down credit card debt

I would buy into a nice expensive camera for taking pictures to sell, and if enough money is left over I would buy a laptop.

I’d finally upgrade my computer monitor (yay!) then put the rest toward debt repayment.

Hi Ramit,

I’m a fairly new reader of your blog. My question would be how you are going to choose the winner. 1) Is it the best answer? How could you decide? There are so many awesome ways to use this $1001 as shown by your readers. Also, if it depends on what they DO with the $1001 instead of what they SAY, how are you to hold the winner accountable?

2) Is the winner going to be chosen by chance? Then more comment entries the better.

3) Is the winner going to be chosen by how close *you* would spend the $1001? Then it’s a guessing game.

If I won $1001 I would personally put it towards 2 certifications that I am trying to earn in June in order to provide me with more earning power. WOOT!

I would book a spiritual retreat in Sedona immediately.

I would put it in savings towards my downpayment on a house.

I’d put the money toward my car loan.

I’d use it to buy the backlog of lattes that all those “experts” keep telling me to cut back on.

That’ll show them!

Impulsively, I wanted to answer BILLS, student loans, stock up on groceries and paper goods, running shoes, etc. But, after a day considering this question I decided I would purchase a new TV for my husband and me.

Here’s my justification: My day starts with a trip to the gym before work at 5:00 am, I work 8-5 (often later), come home, enjoy some down time –reading a book or watch a movie with my husband- and go to bed. My husband is usually waking up about the time I get home from work; he’s a bartender and is on a completely different schedule than I am. He works on my days off and I’m sleeping while he’s off. This leaves our only time together to be Sundays after he wakes up (Game of Thrones on HBO) and a couple of hours after work when we watch a movie together before I’m off to bed. (We sound lame but it’s important to both of us to pay cash for everything we purchase and pay off all my student loan debt.

My TV is about 11 years old, bulky heavy, everyone looks orange, the screen is small but we can never justify spending that much money on anything but “responsibilities”. However, if I received money specifically for a new TV it would be like winning a TV and that’s what I would get!

I came home from work yesterday and said to my husband, “You know that blog I read? Well, Ramit is giving away $1,000 dollars.” Immediately my husband says, “Bills.” Then I explained to him I wanted a new TV and why and we both agreed we would FINALLY buy a new, awesome, big, TV and a movie/popcorn.

I would share it and also invest some…………….:)

I’d use it to pay down credit card debt, which I’ve been working toward paying off since I began reading your book 2 years ago (I actually haven’t moved past the first couple of chapters and wont until I pay my credit card debt). It will be paid in full no later than September 1, 2012 thanks to you!

In your e-mail you write:
>How many people do you know who talk about what they would do with an extra $1,000/month
But it doesn’t look like a $1,000 per month, what you’re offering, more like $1,001 just once, and that’s it

Anyway, I’d use it to get my driver’s license
I’m 56 years old, and I have only a motorbike license. I live in Amsterdam (Holland), and finding parking space for a car is really hard and expensive.
So I’ve gotten along by bicycle and public transport. Up to now.

I want to expand my company (webdesign, graphics design) into photography (saw your video at Chase Jarvis’s website) BUT…
I really, really need to drive a car, with all the photographic equipment.

So, I’d take drining lessons with that money, and when I’d have set up my photography business and were making a decent income, I’d send out an e-mail to everyone I know, asking them what they’d do with a 1001 dollars and a month later another 1001 dollars, and give it away to the one that came up with the most original answer.
They’d have to promise that they’d send an extra 1001 dollars (apart of what they received from me) to the next person to receive the money, in another month, as soon as they could afford it.

I love the “paying it forward” principle.

it’ll AUTOMATICALLY go to my savings account towards a savings goal.

I would put it towards my college tuition!

We just paid off our Credit cards which would have been my answer before.
NOW…after 10% tithe, I think $500 would go straight to an emergency fund and $400 divided among the list of things we’ve been saving toward/putting off doing till we have money. Gas for vacation with my family, dental work, fixing the dog, saving for a new car.

My current daily account is about 900 euros in the red. I would use the money to pay that off, and then block my ability to go into the minus, so I can’t do it anymore! One less worry, and one less monthly overdraft fee!

Here is my plan…

Take 2 days from work unpaid. This will allow me to go to the university during business hours. This is important because I need to get permission to post the flyers for my new business idea. I will post several of them in key areas, and use the rest of the time to meet with professors and counselors who can recommend my services to students.

Second, I would use $50 to invest in materials for the side business. Forms, cards, free crap kids in college like, etc.

Third, I would take several people out to lunch or coffee. I work in a very isolated part of my company, and it would be great to get out and meet some new people. For example, there is one higher up here that has given me really good advice regarding the “right” education for the company I work for. I would love to talk to him more.

Why do I want to do this? Beause regardless of how much I believed you in the past. I FOUND OUT THE HARD WAY THAT YOU ARE RIGHT ABOUT SIDE INCOME! The story is that I have busted my hump for a year to prove my vaule to this company. I have gotten a professional license, started coursework for my masters degree, have taken on more than I need to, etc. At my performance review I was told that I am meeting (not exceeing) expectations and as a reward I was being given a 3% raise. I can easily add three percent to my income on the side without all of the struggle.

What have I learned from writing all of this? Honestly, $1001 is really not much money. I earn that in about 20 hours worth of work. So really why would I do this with extra money if I already have the money? Its obviously not money that is holding me back.

Thanks for the insight your post provided. I will used vacation time I have coming up to do these things instead. Of course an extra $1001 wouldn’t hurt.

I will pay off bills!

I’d use that money to help pay for some of my tuition, and probably to help fix up my car.

I’d spend 1/3 on travel to my hometown so I can celebrate my 40th birthday with dear friends; 1/3 would fund a few “mental health days” from work (I don’t get paid for sick or vacation days) so I could work on my creative writing projects; 1/3 would go toward bills.

I would give it to my daughter for her college graduation.

I would use it to outsource work that would build my business and help me create a reliable income.

I have several hospital bills from nine operations,plus several ongoing medical problems and bills,that just keep on adding up.I am verry sick. That is what I would use the money for.

1/2 to student loans, 1/2 to investments.

i will spend half to refresh my wardrobe a bit so i can dress “as if” i am holding my dream job. i will spend the other half on professional development/business development activities (grant seeker/business plan workshops), purchasing supplies, etc.

Half would go to paying off my credit card and the other half would go towards paying off my motorcycle

I would buy a new computer. Mine is old and slow.

I would use that for travel. $1000 would pay for a nice weekend getaway at Door County, WI

Pay off a credit card, catch up on my car payments, and buy my husband some very much needed work boots.

I would use this as the starter money for my daughters education. She is 9 months old and I am about to open a brokerage account, with automatic checking withdrawal, to ensure this gets funded monthly. Regardless if I win this is being opened, just with slightly less of an opening balance…

I’d put half towards my credit card debt and the other half towards learning materials (classes and books) for my freelance copyediting business, so I can work on generating an extra $1,000 EVERY month!

I would use it to get closer to my no-more-credit-card debt goal!!

I’d take a trip for my best friend’s 30th birthday – she’s been a lifesaver since I moved.

I’d use it to help re-stock my emergency fund, which is lower than I’d like right now due to a breakup & job change.

Use to invest on the online marketing business I started last month.

I have a mountain of debt, so I’d use the money to pay down a credit card balance.

I’d put it into our adoption fund. Happy wife == happy life

With extra 1001, With 50%I would reduce the value of my mortgage, and with the rest, I would begin a small business to earn extra income.
with less mortgage, the money that I got from my job would be injected in the business. Something about cooking at parties.

Since I just bought a house, I would either make an additional mortgage payment, or I would use the money to help set up my home office and ham radio room.

I would invest it in promotion of my Humor E-book of Aphorisms and Cartoons – “Close Your Eyes The Future Has Just Begun”.

I’d visit my sisters in Budapest and Kenya!

I’d use it to pay for a conference I plan on attending this fall

I’d put the majority to some student debt I have left over and spend the rest taking my wife and some friends out to celebrate winning this awesome contest! Balance is key in life

With an extra 1001 dollars I would use half of it for my credit card bill, another 500 for savings and the extra buck to get myself an ice cream cone from a Mr. Softee Ice Cream truck as a treat.

I would put away 5% to my Roth IRA, 20% percent to my savings, 50% to my credit card debt and 25% to my guilt free spending.

After reading the book and all the blog posts (and emails), I have decided to start a business with my wife to make some side income. The $1k will go towards all the fees for the paperwork (application for LLC, etc) and whatever leftover will go towards some equipment we will need.

-ray lee

I’d put it in my ING savings account to sock away for some moving expenses coming up later this summer.

Hey

Well I would spend around $200.00 on a bicycle. Ive been wanting to get bike to stop using the cta! The rest I would save it and pay off a part off my credit card. Maybe spoil myself to some sushi, been craving it! lol
Thanks!

I would use the money to learn a new skill that interests me. Let it be welding, glass blowing, wilderness survival, play the guitar.

It’s not a lot of money we are talking about! Not that I would mind effortleslly winning it though I would probably spend it with my friends… Unless I have an epiphany for an investment.

I would use it to make a pancake suit.

Well, I’d deduct $3.49 from the total to go buy a Mexican pizza, although it’s really not as good as before when they put green onions on them. You’ll have to trust me on that Ramit. Then, I’d use the remaining funds to pay off half of my FYDJ investment!

Use it to start my cooking class business and cookbook!

I would not pay off my student loan because we’re already paying 3x’s the minimum each month. We’re relocating to NC, so I would invest the money for a few years from now when we’ll need to buy a new car.

I’d save $888.88 and take the $112.12 and pay my utility bill. Why $888.88? Chinese people love the number 8 because it sounds like the chinese word for fortune!

I would buy my wife a plane ticket to Paris and buy mine with the $1000/mo extra income I’ve earned as the result of iwillteachyoutoberich.com!

I’d put it in a Mongolian savings account where it could earn about 15% interest.

Since my boyfriend and I just bought a house, my answer is easy…our first mortgage payment. I would say to help boost side income business, but I’m focusing on looking for a new full-time culinary event management job first.

701 toward debt, 300 toward my portfolio book.

Invest it in building a prototype for a web service. It’s a risk but I’m a risk taker (with my own money and if you give me yours ha)

I would use it to pay outstanding medical bills that I just don’t have the money (or insurance) to take care of.

I would put it in savings toward my house down payment.

$500 would go towards spending a week in Playa del Carmen next winter with my girlfriend and our friends.

$500 would be used on a course or some other materials that would help me further my web development/programming skills (i.e. invest in my career).

$1 would be used on a package of celebratory Reese’s Peanut Butter Cups.

I’d use it for PPC to drive traffic to my new business http://www.notifymenow.com

We provide text and voice appointment reminders and also allow text/voice marketing blasts.

Honestly, I feel I’ve already benefited about $650 worth just because Marc (above) posted the link to the Adobe Photoshop Beta download. Now I don’t need to buy that program for my business – at least not for a while. The free training I’ve received from Remit is easily worth the remaining $351 and more.

There are so many places where I need to put money right now that’s it difficult to prioritize. I would likely pay off a $550 loan I had to take out to finish out the last month of grad school without freaking out about bills. The remaining $450 would be used to help launch myself back into the working world following May’s graduation.

I would take some of it to move back home and then put my kids in daycare. I would stick the rest into a savings account and go back to work. Just know it would go towards me starting my new life with my kids.

I’d split up the funds the way I automatically do with all incoming dollars: 1/2 to tax savings, 1/3 divided among other savings accounts (health, emergencies, big purchases, gifts/donations, travel/adventures/entertainment), and the rest to my checking account for “life” — bills, groceries, and random purchases. And right now, that $1,000 would really mean a lot to replenishing all those accounts!

Probably blow it all this weekend on booze and dancing girls.

I would use the $1001 to put towards my husbands student loans. He graduated from college 2 years ago and since then we have put any extra money (tax returns, bonuses, gifts of money etc.) toward it. With 4 kids and one income (I’m a stay at home mom) it has been tight, but we want to get that loan payed off as soon as possible!

$334 on SP500;
$334 on bonds;
$333 on gold;
Thanks.

I’d probably go out to a few really nice restaurants. Frankly, I’ve got a good system of saving and investing in place. So hey, lets be honest – i’d have fun with it.

I would invest my money into a freelance business

I would fly from Bulgaria to the USA to meet you in person.

I would use it to buy a DLP projector and some UV-curing resin to start a 3D printing company!

I will give the whole amount to some one

Ramit – you crazy guy – I would buy some stationery and write you a splendid letter saying thanks – ($ 4) then, enroll for drivers’ ed – I am 26 ($ 500) Next, I would pay off my credit card debt by 1/4th ($ 250) and get tickets to my college best friends wedding ($100 bus tickets, $ 100 hotel room) because she is the only one who sent me a box of food when I ran out of money last Christmas. I am all for Roths and patent searches, and shoes and stuff, but really, I would do these few things.

I would spend 500$ on cocaïne and hookers and I would donate 501$ to a charity…Why 501$ ? Cause I think charity is that much more important

I’d build another 3D printer and use it to make more stuff to sell.

$250 – Towards Student Loans
$250 – A few outstanding Medical Bills
$250 – 529 Saving plan for 7 month old Daughter
$250 – Emergency Fund
$1 – Lottery Ticket

Easy. Since this is “free” money I will designate it as risk capital. Upon receipt of payment I will deposit this into my online brokerage for trading in the intermediate term to take advantage of recent volatility. Either that or I’ll donate it to the city of SF so they can widen the sidewalk on Chestnut, so I can get past all of those strollers.

I’d have a sick party and hire a midget (http://www.rentamidget.com/) to perform. Everyone loves midgets and I believe the networking benefits of hosting a great party will be worth my 1001 dollar investment.

I would use it to invest in my art business (buying materials, vendor payments, shipping art pieces, etc).

I make (and just started selling) abstract art and need to get it noticed, so I need money to be a vendor at fairs, to showcase art at galleries, and for travel.

Send me $1001 and it will help me immensely. Plus, I’ll send you one of my creations. It will add as a nice backdrop in your web chats.

I’d give it to DonorsChoose.org.

I would add it to my Emergency Fund to get closer to my 3-6 months’ worth of living expenses.

I will use it to invest in a drip plan. Either PEP or COP.

Buy a cool set of bose speakers.

Since I am a student in Boston, I would use $300-$400 to buy a plane ticket for my mom in the midwest to come visit me in Boston since she has not been to the east coast yet, and I would use the other $601-$701 for much needed visits to the chiropractor that my insurance company will not pay for.

I would put it towards paying off my credit card debt!

Put it toward paying off my husband’s debt.

I’d invest in myself by putting it towards one of your programs!

Initial desire is to go splurge BUT I woul actually pay down my student loan.

I will use it to pay off debt, since that’s your rule before using money to take your classes! I would save for that! Thanks for all you do!

Hi Ramit!

Here’s the breakdown of how I would spend the $1,001:

$500-to outsource several programming jobs for a website idea I validated using your techniques.
$200-Much needed new clothes (college student).
$100-into my ING savings account
$100-Appsumo courses that I have been wanting to purchase.
$100-into my rothIRA I started summer 2011 after reading your book.
$1 on a bomb carnitas taco tuesday $1 taco.

Cheers!

-Matt

$800 to my IRA, $201 fun money!

I have a friend that needs to buy a new car. I’d give it to them.

I would use it to start paying my parents back after all the help they gave me throughout college. They deserve it more than I do.

I would invest 1000$ and keep the 1$ (good luck of course!) in hopes that in the future I would have enough to pay Ramit back 1002$ (1001+1$…..Thanks Ramit!) and pay for my childs school loans.

I recently checked my credit report for the first time and discovered that my parents never paid for my tonsillitis years ago AND I was unaware that the bills were in my name. So I would put every dollar towards paying this off ASAP… that would be lovely.

I would add it to my emergency fund (matching the 1,000 I have managed to save since I started it in February)

Well after reading I will teach you to be rich! I would definitely get my brokerage account started and run that Lifecycle Fund. I would Automatically contribute to my new fund by rerouting some of my savings. I was actually saving for the lifecycle fund minimum so that money could be allocated for the fund and my money could start growing.

Hi I would give you 10% of the $1,001 and put the rest on my ING account so that in 2 years I will be able to have built 2 studios to rent in the Caribbean…

I would use $500 to use in Facebook advertising for my business fan page (which is doing VERY well). I would then use the rest for backlink building to my products that are ranking on the first page of Google, but to push them even higher to position 1!

I would buy 15.3846154 Chipotle burritos (assuming a cost of $6.50 per burrito)

I would spend it on your Earn1K course – planting a money seed that would grow into a mighty money tree.

I would use it to pay bills. Nothing exciting there.

Pay bills!

I would use it pay off my credit card debt and any leftover money would put towards my student loan payments

I would would apply it to the Earn $1K tuition for one of these other people who have already posted here. He or she would then pay me back $2,000 over the first one year of their new business. I would then use the $2K to fund two more people into Earn $1K.

Why would I expect such a high return? To weed out the dweebs. I bet there are many people who take the Earn $1K course, funded via credit card, and one year later only have the credit card debt to show for it. A person who is willing to accept my offer recognizes their own value and will easily earn back the $2K and more very quickly.

I would like to spend the money on paying the credit card debt..

Hire my first team member so I can start leveraging my time more….

It would be dumb to waste it paying for some expense. Because then the $1K remains $1K, is consumed, and disappears forever.

I’d crack the whip put it to work! I.e., use it in a way that multiplies its value. I guess the best way to multiply the $1K will be different for each person. It will be important to identify the point of greatest leverage in your business or personal life.

I believe that whatever wealth I can attract right now is limited to whatever state I allow myself to be in. So to get more wealth, it’s always a good idea to invest in advancing myself (learning, relationships with mentors & partners, fix mindset, etc), to reach a new state that allows me to attract more wealth.

The other big asset to invest in would be in people. I’d spend as much money as I possibly could to acquire my best (and most profitable) lifetime customers, because they are the most leveragable asset. E.g. I might throw a “customer appreciation day”, courtesy of Ramit

Or, I could use it to have some sort of contest to attract prospects… I guess kinda like what you’re doing now with your $1K

BUY 1000$ WORTH OF GOLD! and spend the leftover dollar on that awesome chocolate truffle bar from Trader Joes… mmmm… And stash them both together… because when the world ends ( ), cash will be useless, and I’ll still be able to have my favorite chocolate on my birthday! and to think I could have wasted all that money paying off my debt that is no longer existent

I’m getting married in July, so I would definitely add it to my wedding/honeymoon savings!

1 bottle Ardbeg Corryvrekan Committee Reserve 2008
1 bottle Benriach 1966 Cask 1019

I like your style. The benefit reach for IWTYTBR on this experiment is worth FAR more than the $1k you are handing out.

I will invest in myself with the $1k. As of right now, it seems to be:

$400 Credit Card (My only CC)
$250 Personal Car Loan
$150 Student Loan
$100 5-$20 Info-Interviews (UX Design, Web Design, Programmer, Blogger, TBD)
$35 Get 1-year hosting for my new personal website
$35 Purchase 3 Kindle Books for self improvement (Never Eat Alone, 7 Habits of Highly Effective People, The Millionaire Next Door)
$30 Buy Protein Mix for my 30-Day Work Out Challenges
$1 Quick Pick Lottery Ticket because obviously I am on a lucky streak

Thanks for the opportunity.

I’d use the money to create the prototype and the inital run of a product I’d like to make and sell – in fact, I will make and sell it. It’s gonna happen. I just need a bit more money first. Between grad school expenses and the fact that I just bought a boat to live on (b/c NYC rent is stupid-expensive and this is a more economical and cooler option), I’m a little hard pressed to get my challenge-to-myself off the ground at the moment. So this money would be quite welcome! And then I’d totally take you out sailing around the city and make you tea or something.

I would put it toward my wife’s student loan. We paid mine off this month, hers will be paid in full in less than 12 months, and we will have our house paid off in about 41 months….40 if we can get our hands on the $1,001.00.