What are some good things for teenagers to save up their allowance for (except cell phones)
2006-09-17 06:25:01 · 10 answers · asked by chattergirl93 2 in Business & Finance ➔ Investing
College
Their first car
Limo for the senior prom
2006-09-17 06:27:52 · answer #1 · answered by Barkley Hound 7 · 2⤊ 0⤋
It is always good to save up for things that maintain or increase in value.
The most important thing that can increase in value is YOU. This means education. Either formal education by enrolling and taking classes somewhere, or a trade school, or buying the books and learning on your own.
The more information you put into your mind, the more time and money you will have available as you get older - because you will make less mistakes(which usually end up costing time and money.)
2006-09-17 14:03:58 · answer #2 · answered by J. C. 6 · 0⤊ 0⤋
Stocks.
The smartest thing I did when I was a teen was to save $$ on stocks. I played the market and won money. It's a great learning opportunity and you can invest in things you like... Like cell phones and then when everyone else buys them, you make money!
Ameritrade.com is good.
Or you can save to buy a car.
Why save money to buy something that won't make you money? Buy something that'll make money for you... That's being smart w/your money.
2006-09-17 13:32:38 · answer #3 · answered by Paul 2 · 0⤊ 0⤋
Roth IRA's. If you start putting some money away in a Roth IRA as a teenager, by the time you reach your 50's, you can probably retire due to the money compounding and the amount of time it will be multiplying...
2006-09-17 13:43:29 · answer #4 · answered by michael.avery 3 · 1⤊ 0⤋
Tuition.
2006-09-18 16:49:32 · answer #5 · answered by Anonymous · 0⤊ 0⤋
if you have about $50 a month, put that on a mutual fund
montly until you're in college
2006-09-17 14:34:38 · answer #6 · answered by Anonymous · 0⤊ 0⤋
I saved my paychecks toward my first car.
2006-09-18 16:19:21 · answer #7 · answered by grudgrime 5 · 0⤊ 0⤋
Rainy days.
2006-09-17 13:33:43 · answer #8 · answered by Timothy Summer 3 · 0⤊ 0⤋
Well,Sorry I can't help you I'm too rich to save money.....Oh! Yea!I have my own credit card,lol.
2006-09-17 13:28:17 · answer #9 · answered by Vanessa_13 1 · 0⤊ 2⤋
ipods, clothes, music
2006-09-17 13:29:07 · answer #10 · answered by ALL SMILES :D 5 · 0⤊ 0⤋