2006-11-12 11:38:20 · 7 answers · asked by yung joc 3 in Business & Finance ➔ Personal Finance
I had a $1000 when I was 14. I put that money into mutual funds us growth, international growth, and a boring middle of the road fund. by my jr year of college, I had enough to go to Europe for a while and travel around a bit. I didn't spend all of it because it kept growing so I cashed out the last bit whenever I bought my first house 2 years ago. At 14 there wasn't a lot that I wanted or needed, but I knew that there was something bigger that I wanted when I could really have fun with it.
Now, I have a house with less debt, a summer full of memories that has made me a much more complete and well rounded person.
If you aren't afraid of work, I would buy a used lawn mower now (in the off season while they are cheap) and start soliciting your neighbors to cut their grass next spring. If you can get 5 houses, you will have 5Xs the problem you presented us with.
Then you have to start thinking about RothIRAs, business expansion, employees, down payment on a truck you buy in 2008 when you add more houses and more employees.
2006-11-13 00:14:14 · answer #1 · answered by GoodTimesMakingMoney 2 · 0⤊ 0⤋
Don't listen to Dirk Digger or the first gal (No offence). SPEND IT ON ME!!
Nah i don't think you would. I am 13, If i had $1000 i would:
a) Save it in a bank & Get interest on it
b) Spend a bit. Save a bit. Spend a bit more
c) My cuzin has a Xbox360. It is good. If you are into games and stuff buy that. But you will probably have to spend extra on games ($100 each) Ending with maybe $20.
d) Giv it to meeeeeeeeeeeee!
Good Luck.
2006-11-12 12:27:07 · answer #2 · answered by Anonymous · 0⤊ 0⤋
At 14? A lot of things you'd probably really like could be bought for around $100., leaving about $900. to save toward something bigger later -- a car, college, etc. Two of the most important attributes toward a successful life are balance and moderation. This is a perfect opportunity to practice those attributes in your use of that $1,000.
2006-11-12 12:36:47 · answer #3 · answered by worldinspector 5 · 0⤊ 0⤋
Get to the library and check out:
How to Be a Teenage Millionaire by Art Beroff (and others)
2006-11-12 14:09:20 · answer #4 · answered by Anonymous · 1⤊ 0⤋
Save it
2006-11-13 12:27:04 · answer #5 · answered by lady_christian99 3 · 0⤊ 0⤋
Put that money into a CD. (Certificate of Deposit) By the time you figure out what you want to buy, you'll have earned money with money.
2006-11-12 13:10:04 · answer #6 · answered by Ms. Mikki 2 · 0⤊ 0⤋
Something you desperately want. If you don;t necessarily 'need' anything...id say just save it!
2006-11-12 11:40:14 · answer #7 · answered by Anonymous · 0⤊ 1⤋