because i want to save my allowance
2006-07-18 17:41:17 · 6 answers · asked by Anonymous in Business & Finance ➔ Careers & Employment
there is a saying that says "pay yourself first".
It means take a certain amount of money you have earned and immediately put in a savings account.
I would recommend you do NOT get an ATM card for the savings account. This way you will not be able to pull out money so quickly.
Good luck!
2006-07-18 17:46:30 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Savings accounts and short term CDs (Certificate of Deposit) don't give much in terms of interest - the rate of inflation is higher. When you have enough saved, mutual funds can be okay for young investors, but there are minimums and there can be penalties for withdrawing too soon. Stocks and bonds are best for the long term haul - quick buy-n-sell often wipes people out. Talk to a financial counselor at a bank - they tend to be more or less honest if they're not selling you something and instead just giving advice.
2006-07-18 17:47:10 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Everytime you buy something, pay with bills only. Keep the loose change instead of spending it on your next purchase. Empty your pockets into a one place everytime you go home after buying something. Don't touch the change until your containers full. Then put it into a saving account. You'd be surprised how much you save.
2006-07-18 17:46:47 · answer #3 · answered by Mariposa 7 · 0⤊ 0⤋
Startup a saving group!
2015-11-03 00:20:35 · answer #4 · answered by Ismail 1 · 0⤊ 0⤋
do not take any money with you when you go somewhere.
do not buy junk like candy and chips or fastfood.
do put in a savings account.
2006-07-18 17:46:49 · answer #5 · answered by bleacherbrat34 6 · 0⤊ 0⤋
piggy bank
2006-07-18 17:45:24 · answer #6 · answered by smarty 2 · 0⤊ 0⤋