its your first real job and you got your first paycheck.what would u do?
2006-06-12 05:17:14 · 11 answers · asked by mArQuiTa ChiKa 3 in Business & Finance ➔ Personal Finance
When I got my first check I opened a savings account with it and deposited three quarters of the money from my pay check. The other quarter I used to buy an outfit and a matching pair of shoes. I did that every week and by the end of the summer (my first job was a summer job) I had 12 new outfits and 12 new pairs of shoes and a lot of money in the bank that I saved till the next summer and then did it all over again! I know one outfit a week does not seem like much but just think by the end of your first month you can have 5 new outfits and 5 new pairs of shoes, I even bought accessories and a hand bag to match each outfit!
2006-06-12 05:30:56 · answer #1 · answered by ? 2 · 1⤊ 0⤋
Boy, if I had it to do over...
Put as much as you can in savings and leave it there. If you invest $2000 @12% every year for just 8 years starting at age 19 and then stop at age 26 and never put another cent in, how much do you think you'll have at age 65?
$2,288,996.
If you wait until you are 26 and put $2000 @12% every year (without stopping, for the next 39 years), at age 65 you will only have $1,532,166!!!
Start saving early and keep at it and you can retire early and truly enjoy life!
2006-06-12 15:56:27 · answer #2 · answered by homeschoolmom 5 · 0⤊ 0⤋
That would depend on circumstances. If my parents were barely scraping by and I was living at home, I would give a portion to them, bank 20%, and use the rest to manage expenses until the next paycheck.
2006-06-12 05:23:07 · answer #3 · answered by karen wonderful 6 · 0⤊ 0⤋
If I didn't have bills I would buy something small and put the rest into a savings account for when I actually NEED something.
2006-06-12 05:19:24 · answer #4 · answered by Pitchow! 7 · 0⤊ 0⤋
Buy a Wallet to keep the money in!
2006-06-12 05:19:38 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Put it all into a Roth IRA
2006-06-12 06:53:57 · answer #6 · answered by spineminus2 3 · 0⤊ 0⤋
Share it with ur parents
2006-06-12 05:19:25 · answer #7 · answered by tsreenath9 2 · 0⤊ 0⤋
I wanted to give it to my mother but she was not around that time..
2006-06-12 05:22:09 · answer #8 · answered by Drone 7 · 0⤊ 0⤋
i'd buy some illegal things.
2006-06-12 05:21:10 · answer #9 · answered by Anonymous · 0⤊ 0⤋
frame it
2006-06-12 05:21:24 · answer #10 · answered by myke_n_ykes 6 · 0⤊ 0⤋