Or so I thought. Before I could give it serious consideration, both the washer and dryer died. So, any extra money will go toward new energy efficient appliances (thanks to no-payments-for-a-year financing). Easy come, easy go.
Have you thought about how to manage this windfall? Here are eight ideas for consideration.
#1) Purchase a meat or vegetable "share". Community supported agriculture (CSA) shares are a way to support local farmers, eat fresher food, and keep money circulating in your community. I think the Organic Mechanic in Highgate Center, Eric Noel, still has some available - or check your local farmers' market when it starts up again.
#2) Support your local independent grocery store. Cash that check and use it at a non-chain like Descorcie's in Highgate, or Bob's Meat Market in St. Albans. Bob's has an awesome array of ready-to-eat and ready-to-grill items at a decent price - plus, there's a drawing to win a grill with all the fixin's for a barbecue.
#3) Swap out all your regular lightbulbs for those energy efficient ones. Right now, City Market in Burlington is offering them for $.99 each - but they let you buy only six. Check your local supermarket or feed store; those squiggly florescent bulbs can currently be found at a bargain price.
#4) Bank it in a certificate of deposit (CD) or fund an independent retirement account (IRA). Why not? You have to look out for Number One, and investing in yourself is more satisfying than buying something cheap and fleeting from Taiwan or China - they don't deserve your money, they really, really don't.
#5) Does your current fuel purveyor offer an incentive for paying next season's purchase in advance? We took advantage of this last year and locked in the price we could be charged for heating oil - and saved a lot.
#6) Pay your debt down. Here's some more advice you didn't ask for: shop your major credit card online. Some banks are offering real cash back for running your utility and grocery charges through their credit service. You have to be financially responsible about paying your balance every month to take advantage of this, but last year I earned more than $300 back on phone, electricity, fuel, and grocery bills.
#7) Fix your house up to create savings in the long run: repair the roof, that leaky window, make those wonky porch steps safe again.
#8) Donate your check. If by some miracle you get a payment from the government and don't need it - the Highgate Recreational Department could use some money towards revamping their arena cooling system; this benefits both youths and adults in surrounding towns.
Though I am an advocate of keeping it local, I strongly urge you to use this unique opportunity to find ways to help yourself first, then look to your community and spread the wealth.
