Comments on: How to spend $5000 of newly found money.

Question: How to spend $5000 of newly found money.

sirsteven — Fri, 09 Sep 2005 23:04:55 -0800

Just today our engineering students society found $5000 in a safe we didn't know we had. Now we've got to spend it, preferably in some useful and/or awesome way. Do you have any suggestions on what a students society might want to spend it on?

We've got a lounge with a few old computers, a really cool fridge and a big-screen tv (so we don't need those things). We usually get 30 grand per year in student fees but this feels like we just won the lottery. Holding the rolls of bills feels like we're drug dealers or something. It would be cool if whatever we spend it on is something we could remember year down the road(or not, whatever goes).

By: weapons-grade pandemonium

weapons-grade pandemonium — Fri, 09 Sep 2005 23:10:43 -0800

Scholarship fund?

By: Lockeownzj00

Lockeownzj00 — Fri, 09 Sep 2005 23:17:03 -0800

A really nice console-game system (geared towards par-tay games)?

By: Lockeownzj00

Lockeownzj00 — Fri, 09 Sep 2005 23:17:22 -0800

...(that can be elaborated upon, but first was just throwing it out there)

By: Popular Ethics

Popular Ethics — Fri, 09 Sep 2005 23:23:06 -0800

-Photocopier?
-Fancy lounge couches?
-Startup capital for a student-run coffee/snack bar?

The latter idea was enacted by our own engineering society ten years ago. The lounge has grown into a centerpiece of student life (and since the labour is all volunteered, a decent money earner for the society too)

By: Kickstart70

Kickstart70 — Fri, 09 Sep 2005 23:23:57 -0800

Every Mechano set you can find :)

By: Chuckles

Chuckles — Fri, 09 Sep 2005 23:39:02 -0800

You are engineers, right? This is a stupid question...

Higher a naked stripper on a horse and buy lots of beer, of course.

You could build yourselves a Cannon and challenge U of T to a gangbang.

Fund a prank.

By: Chuckles

Chuckles — Fri, 09 Sep 2005 23:45:47 -0800

Oh ya, we spell it skule... So capitalizing Cannon in the wrong context, or using the wrong hire... Not really serious issues, okay...

By: normy

normy — Sat, 10 Sep 2005 00:03:33 -0800

$5000 in a safe we didn't know we had

An accountant?

By: bobo123

bobo123 — Sat, 10 Sep 2005 00:06:05 -0800

Personally, I would either donate it to charity or order 600 pounds of silly putty from Dow Corning.

By: acoutu

acoutu — Sat, 10 Sep 2005 00:43:44 -0800

Although I second Normy's call for an accountant, I'd suggest setting up a legacy fund. Put half the money in a savings account and half in in a stock-indexed GIC (allows for more gain than a GIC but preserves your initial investment). Every year, spend 80% of the gain on a legacy activity and leave the rest to accumulate. You could hold a contest to come up with this legacy activity each year. Although future eng socs will get to spend your money, you're establishing a legacy that will fund future legacies.

When I was in high school, our student council had a $10k surplus. The council (of which I was a member) suggested setting up a service scholarship fund or a legacy fund. The non-graduating members balked at the idea -- somehow convinced that it only benefited graduating students. Instead, the vice-principal convinced the other members to buy a big neon sign for the front of the school. It was a giant notepad with a giant pencil attached -- the kind you put letters up on. The sign was smashed and the pencil was quickly stolen. They don't have it anymore and I only graduated about 12 years ago. The council used the $10k and a loan to buy the sign. Ouch.

By: b1tr0t

b1tr0t — Sat, 10 Sep 2005 01:44:47 -0800

Buy crude oil futures

By: kosher_jenny

kosher_jenny — Sat, 10 Sep 2005 02:35:49 -0800

Build your own robot?

By: anathema

anathema — Sat, 10 Sep 2005 03:39:26 -0800

preferably in some useful and/or awesome way.

Red Cross. And see if you can get another campus organization, or business in the community, to match it.

By: planetkyoto

planetkyoto — Sat, 10 Sep 2005 06:49:55 -0800

1. Prize for a design contest among the students; Ask them to engineer a low cost solution for a particular vexing problem in some third world country.

By: TTIKTDA

TTIKTDA — Sat, 10 Sep 2005 08:39:50 -0800

has it really taken this long for someone to suggest massive quantities of alcohol?

By: spinifex23

spinifex23 — Sat, 10 Sep 2005 10:11:31 -0800

Hookers and blow?

If not that, then the accountant route seems the safest. Put some away, invest some, give some to charity, and spend a little bit on Wow! Shiny! Toys! right now to get some immediate gratification out of finding the money.

By: amtho

amtho — Sat, 10 Sep 2005 11:51:56 -0800

You could work on an engineering project together that would help people and look great on grad school applications. Have a contest to find the best project idea, then all work on it together. I have ideas myself if you want some.

Silly putty is all right, but brains + money + time + friends with same = once in a lifetime opportunity to make something really cool.

By: abbyladybug

abbyladybug — Sat, 10 Sep 2005 20:05:00 -0800

Please donate to Hurricane Katrina Relief. If you didn't know you had it before, then you won't miss it.

By: phrontist

phrontist — Sat, 10 Sep 2005 20:59:26 -0800

LED Dance Floor

By: Aknaton

Aknaton — Sat, 10 Sep 2005 22:57:13 -0800

What acoutu said.
Each year, use the interest skimmed off to fund some high-profile engineering-based wild prank early in the year, with the express goal being to attract more people to the major since whoa! it's apparently not just full of dullards!