Got a bit of money
- Thread starter Dylan_
- Start date
g4m3rof1337
Active Member
as ive been told, save for college.
at are ages we need to save for college
see, you and i want to spend are money on computer parts. lol.
at are ages we need to save for college
see, you and i want to spend are money on computer parts. lol.
Emperor_nero
New Member
At 12?!!? Well I would put it into savings, it would really help if\when you got to collage or a nice car when you older.
Geoff
VIP Member
I actually think its pretty dumb to save up your money at such a young age. Because to you, $100 seems like a decent amount of money, however when your in your late teens and early twenties, that $100 you thought was worth so much at 14, is really nothing.as ive been told, save for college.
at are ages we need to save for college
see, you and i want to spend are money on computer parts. lol.
How can you have 10K to spend at 12 years old? If you are serious, buy a decent $1000-$1500 computer, and put the rest in either an IRA or CD.
Geoff
VIP Member
CD would probably be best for your age.
A CD is a type of savings account where you deposit a certain amount of money, and you can have it stay in there for a period ranging from 1 month to 5 years or more. Basically a CD has high interest rates, around 4-5%.
So if you put $8,000 in a 1 year CD, when the CD expires at the end of the year, you will have made about $360.
g4m3rof1337
Active Member
how did you get 10k btw
Dylan_
banned
Xmas and BDay money
Emperor_nero
New Member
Sorry but a kid your age shouldn't get that much money unless whoever giving it puts in a long term CD or something...
Well I'm not one to say who should or shouldn't have ANY amount of money. You're not more or less of a person for having gobs of money, or being poor. That is for an entirely different conversation though...
If I could tell you waht to do (which I'm going to do) I'd say...
Buy a nice $1000-1500 computer. Then ask you parents for some advice. Talk over different investment plans they would be willing to help you get into and see what is available. They will be THRILLED you want to save most of your money, and in 5-6 years you will be SOOOOO glad you have nearly $9,000 for expense money.
I can tell you right now I would be doing back flips if I even had $1,000 saved up. I live from paycheck to paycheck, scraping every dime I get. Literally, I keep all my change and that's how I eat lunch at work, out of the vending machines usually. Sometimes it gets REAL tight, other times I come out on top with money to spare. I wish I would have started savin at 12-13 when my parents threw money at me as well. Now...they don't even pay my health insurance!
If I could tell you waht to do (which I'm going to do) I'd say...
Buy a nice $1000-1500 computer. Then ask you parents for some advice. Talk over different investment plans they would be willing to help you get into and see what is available. They will be THRILLED you want to save most of your money, and in 5-6 years you will be SOOOOO glad you have nearly $9,000 for expense money.
I can tell you right now I would be doing back flips if I even had $1,000 saved up. I live from paycheck to paycheck, scraping every dime I get. Literally, I keep all my change and that's how I eat lunch at work, out of the vending machines usually. Sometimes it gets REAL tight, other times I come out on top with money to spare. I wish I would have started savin at 12-13 when my parents threw money at me as well. Now...they don't even pay my health insurance!
Geoff
VIP Member
Most kids your age only get a few hundred dollars fr your b-day.
g4m3rof1337
Active Member
how many years did you save....lol
computermaineack
New Member
That's at age 13.
