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The Best Options for Investing Unexpected CashBest options for investing unexpected cash

Receiving a surprise lump sum of cash, such as a redundancy payout, unexpected tax return, sudden inheritance, employment bonus or stock gain can have a huge impact on your life.

With a windfall like this, you have the opportunity to weigh up the many options for investing your cash and work out what would be best for you, both in the short and long‐term.

So what do you do? We’ve come up with a few ideas to help you make the most with your
money.

1. Pay down your debt

It might sound like an obvious thing to do but paying down debt is often the last way people want to invest their surprise bonus payout. Still, it’s a great way to save you money in the long term by reducing repayments and interest on your credit cards, personal loans and mortgage

2. Contribute to your Super

Retirement might be a long way off or you might already have a sizeable chunk of money invested in your retirement fund; but there’s little doubt that we all look forward to retiring one day in relative comfort and with financial security. So consider using the extra injection of money to make an additional contribution to your superannuation fund.

3. Put down a deposit on a house

The benefit of a cash windfall is the freedom it can bring. Things that you always thought were impossible can suddenly become possible. For instance using your money to purchase your first home or invest in a property, remember to consider the risks and call us to discuss your home loan options.

4. Put your extra cash into savings

If you’ve paid down your debt or you are unsure what to do with the cash right now, you may want to consider investing your cash into a high interest term deposit or an account where you can earn Qantas Points such as our Qantas Points Saver account. It’s a solution that can provide you peace of mind in the knowledge that your money is earning interest and waiting for you for when you need it.

5. Have fun with it (just a little bit)

After you’ve paid off your debt and put an amount of money away for a rainy day, you may want to enjoy some of it, after all, life is for living! Before indulging yourself, ensure that you have a decent amount of cash put away for emergencies.

Whatever you decide to do with your unexpected cash, do your homework and research the options carefully. You might also want to seek out professional advice about the various options for investing your unexpected cash... and remember that fortune may favour the bold, but it often prefers the prudent.

If you’d like to talk to us about savings, home loans, financial planning or superannuation contact us on 1300 747 747 or qantascu.com.au.

Qantas Credit Union Super Saver

The information in this article is of a general nature and does not constitute advice in relation to any investment or purchase. It has been produced without taking into consideration your personal financial circumstances, objectives or needs. Prior to making any decision you should conduct your own investigation and analysis of any associated benefits or costs. You should seek your own independent legal and financial advice. You should also read the Product Disclosure Statement (PDS) available on our website before applying for our financial products and services. Normal lending criteria apply to credit applications. Terms and conditions apply and are available on request. Qantas Staff Credit Union Limited trading as Qantas Credit Union ABN 53 087 650 557, AFSL/Australian Credit Licence 238305.