Once you successfully make a claim on PPI, there are limitless options on spending that money.
The best possible way is to place your money in the savings account.
In this way, money will be available to you in the emergency situations when you require funds.
Though you may not get sufficient interest on the money lying in your saving account, but your remains there fully protected until you need it.
Another option is to invest in the saving schemes that provide higher interest, but allow you to withdraw money in emergency situation, without any penalty.
Another way you can invest your PPI refund is by using the money for clearing your outstanding debts.
You can repay your high interest unsecured loans such as credit card debt or personal loans.
You can save considerable amount of money that goes out every month as interest by clearing these loans.
You can even repay the loan on which you just got PPI refund.
You can easily save on interest and can also free your monthly income for paying off your debts.
If you are not interested in putting the money in savings or for paying off your debt, you can use this money in buying some items that you need urgently.
They can range from a bike, car accessory, household gadgets, washing machine, mixer, coffee maker, microwave, and refrigerator and so on.
Alternatively you can use the money for buying school uniforms and shoes of your kids.
You can even spend some money on repairing your car or air conditioning system.
This money can also be used for house repairs, paying off utility bills and anything that can be sorted out by using the money.
If you are not interested in any product or savings, you can spend the money on vacations in some distant country in the Europe or Middle East, to see the world from close quarters.
You can live in the choicest of hotels and dine in the finest restaurants and drink the expensive wines and have good times with your family members and friends! As Christmas is around the corner, you can even throw a gala party at home for your family members, friends and colleagues.
Lastly, you can also spend the PPI money on shopping online, as you can get great money saver deals on various products on online stores.
You can buy various items to decorate your house and office with different types of handicrafts, flowers, glassware, and so on.
Enjoy your PPI Refund!