What would you do with $5000?

The dream is now a reality!

What would you do with a whopping $5,000? It’s easy to say ‘savings,’ but we all know that’s no fun. An extra five thousand might as well be a million to a student.

Sure, having savings gives us peace of mind and a bit of a cushion for a rainy day, but if there’s anything a bunch of 20-year-olds know how to do with an influx of cash, it’s have a good time.

The IGNITE Contest gives students that very ability. Not a bad problem to have, eh?

While $5,000 can go a long way toward paying off student loans, other debt that’s built up or the ever-responsible emergency fund, the post-secondary students we heard from would rather live it up.

What is the IGNITE Contest?

The IGNITE Contest banner — *Picture by IGNITE*

Thinking you have to work endless hours for a big payday? Think again. Fill out a short survey and let the dice roll in your favour with a bunch of bonus prizes on top of the grand prize of $5,000.

Whether you’re a student at the Humber Polytechnic Lakeshore, North or Downtown, or the University of Guelph-Humber campuses, you can participate. All you need is to be enrolled in the fall semester.

The contest has been running since Nov. 3. You haven’t missed it yet, though, you’ll have your chance until it ends on Nov. 30. So, get the winnings while they’re hot.

New tech

A table full of computers, headphones, phones and portable chargers. — *Photo by Marvin Meyer via Unsplash.*

What would you do with 5,000 smackeroonies? Well, you spoke loud and clear. I went around campus and students told me they wanted to invest in their hobbies while also getting something practical that could help with their schoolwork.

Queue technology. The most popular being a new computer. For most students, it was a great middle ground between buying something they wanted and something they needed for school.

After buying the most expensive laptop or desktop they could think of, students said they would do the responsible yet admittedly boring thing and put whatever’s left toward paying their tuition or putting it into savings.

Students couldn’t find a consensus on which computers they wanted, however. Each wanted something unique.

Some wanted to make the move to Windows, while others wanted a brand-new MacBook. Others wanted a gaming computer, while some needed something to simply binge Netflix. Some knew the exact model, colour and accessories they wanted, while others looked forward to the chance to research and shop with the biggest budget they’ve ever had.

Just the thought of having $5,000 in their bank account to invest or go on a shopping spree in hand gave them the most excitement they could ever think of.

Luxurious spending

A hand with a gold watch and large brown wallet. — *Photo by Oyemike Princewill via Unsplash.*

Other students said they would put the five grand toward their long-term goals. Buying a musical instrument or updating their gaming setup overall.

The importance of investing in themselves and living life to the fullest wasn’t lost on them. Putting the money toward a vacation was the highest priority on the list for a lot of students.

Going back home to their native country, travelling the world or watching a sporting event or two outside of Toronto. The possibilities with these students were endless.

One thing was common among students: everything they wanted was extremely personalized.

No two students wanted to visit the same place or wanted the same exact product, even if it was for a similar hobby. They voiced the importance of doing the responsible thing, but not losing sight of having fun in life.

What would you do?

A person holding their hands, palms side up, looking confused toward the camera. — *Photo by Nachristos via Unsplash.*

Although students couldn’t wait to say what they wanted, like they were sitting on Santa’s lap, others took time to contemplate and really think about what they valued most. Their practical and child-like imagination wrestled like it was for the WWE championship.

Financial stress is common for all students and having the chance to reduce it and pay off some debt would instantly make anyone happier, but having such a huge amount of money to be spent on fun is rare for a student.

After a few minutes of pondering, most students concluded that it was time to go wild. It was time to spend a little on themselves. A few students made the point that they spend their daily paychecks on their needs and never do anything for themselves. This was their time.

So, the question is, what would you do? Are there things in life that you need the money for to give you a bit of reprieve from the stress student debt gives? Or will you splurge on a concert that’s coming up?

The choice is yours, first things first, though, you gotta take the leap and enter the IGNITE Contest.

Feature image by Victor Ballesteros via Unsplash.

Do you want to spend some money on clothing? Find some trendy fashion ideas to pre-spend your winnings on through our latest Street Styles!