u/Careful_Square_563

Money I can't spend but can use tactically: ideas?

I have an uncle in Australia who is unwell and is not expected to live long, although he is not specifically dying just now. I have agreed when the time comes to execute his will and arrange his burial. I have to go to Australia to do that. I don't have much money, so he sent me $AUS 5000 in advance for travel and burial and other costs. There's no legal strings to this money but I am NOT going to touch it until he dies, because I will need the money for it's intended purpose. Any left over after is mine to keep.

What advantage can I get from about $NZ5800 that I can't spend? It's in a savings account and I will try to add a little each month. I looked into mortgage offset, but I need a floating mortgage and I don't have that. If I still have this money next June when my fixed term ends, I'll float a portion of the mortgage and do the offset.

Please give me your other ideas. Thanks.

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Update: life expectancy probably more than six months, almost certainly less than five years

Money is for me to travel there and get the ball rolling with deposits etc for taking care of his body. He doesn't want a funeral. I expect the estate to cover the rest, I don't know the exact size of it but I believe there's enough.

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u/Careful_Square_563 — 18 hours ago