im 13 and i have about 200 dollars. what should i do with it
2006-08-20 07:28:42 · 21 answers · asked by Dean- 1 in Entertainment & Music ➔ Other - Entertainment
Money is a close second to oxygen. It qualifies as a need more than a desire. A fool and his money make a good customer and are soon parted.
Have your parents open a ShareBuilder account. There you can have a money market account for a portion/all of it, or you can experiment with stock market, learning something the whole time.
"A penny saved is a penny earned."- B.Franklin
This is a good start. Investment is better.
Remember Jesus told the parable of the 3 men who were given different amounts of money (talents).
The man that buried his money had the same amount as given to him and was rebuked by the benefactor. The other two had invested their money and had larger returns as a result.
"A penny saved ... is alright but a penny invested gives you a chance at more returns and more pennies."- Me
Take some of your money for practical self-education. Buy "Rich Dad, Poor Dad" by Kyosaki. Any of his other books would be a good place to start. You can get used copies for le$$.
Remember you are your first charity. Give to YOU first, then if someone else is in need you can make a reasonable deterniation.
Make your money work for you.
Another investment strategy is to buy something that will help you make more money. Examples: Lawnmower, snowblower, tools, books, craft materials, ladder, paint supplies, lessons, software, etc.
I hope this works. Let no one dupe out of your money. Keep a clean generous heart, be generous to self first, then anyone you deem fit.
Do not forget to increase your intellectual capital. Get books on Business Law, Accounting, and take a tax course. H&R Block or Jackson Hewitt. Keep aware of money trends. Do not become attached to the point of obession. Do not become stupid to any extreeme. Keep something for you.
2006-08-20 08:20:03 · answer #1 · answered by LeBlanc 6 · 0⤊ 0⤋
because you're 15 years old (how did i recognize that?), in case you make investments that $one thousand right into a boom mutual fund (something like the Muhlenkamp Fund, MUHX), it truly is going to in all probability earn 14-15% a 12 months over the lengthy-time period, so in case you forgo any more beneficial "eletronics" (not particular what they are, LOL!) your $one thousand might want to actual improve, all via itself, to be $one million,000,000 via the time you're sixty, without you doing something. Please print this answer out and positioned it aside. per chance you'll come throughout the time of it once you're 60, broke, hating your interest and surrounded via old clothing!
2016-11-05 06:03:17 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Give it to charity organisation like Red Cross.So that your money can be of help to the poor and war devastated people of this world
If you really can't decide thats the best way to do.But you need a big heart to do this.
2006-08-20 07:36:59 · answer #3 · answered by ZxssxZ 5 · 0⤊ 1⤋
seriously take my advice dont spend it on stupid things look you grow up fast and nearly 99% of the things you have are'nt going to stay with you through the rest of your life so save it and and everytime you get more money add on to it until you go on to college or something because trust me your going to need it life in the real world sucks..
2006-08-20 07:37:02 · answer #4 · answered by Anonymous · 1⤊ 0⤋
the best thing to do with your money at that age is to put it in a savings account. dont waste it all. this money could help you in the future if you keep saving. good luck.
2006-08-20 07:33:15 · answer #5 · answered by hahahahahahhahahahahhahahahahaha 1 · 1⤊ 0⤋
Put it in a bank or CD - try to make more money from it so you can a) buy a car, b) put gas in the car c) go out on dates...
2006-08-20 07:34:14 · answer #6 · answered by merigold00 6 · 1⤊ 0⤋
save and keep saving everytime you get money. Saving is very important with this world changing daily.
2006-08-20 07:35:47 · answer #7 · answered by whatever 2 · 1⤊ 0⤋
I would start saving it, so when something new and exciting comes out that you want, you can buy it for yourself!
2006-08-20 07:32:54 · answer #8 · answered by carebear2luv 2 · 0⤊ 0⤋
Save it. You never know when your going to need it.
2006-08-20 07:33:40 · answer #9 · answered by Anonymous · 1⤊ 0⤋
Save it for college or spend it on something you really need. i would buy clothes and shoes for school. but that would be me.
2006-08-20 07:37:36 · answer #10 · answered by Kristina 2 · 1⤊ 0⤋