How do i save money at 15?

Answer 1

Do odd jobs like lawn mowing, gardening, raking leaves or shoveling snow. Then put the money in the bank.

Answer 2

Don't spend it. :-) No, really -- the trick to saving money is to have it taken out of your pay before you get it into your checking account, because we ALL spend whatever's in our checking accounts.

So the first step is open a savings account, if you haven't already got one. If you have a regular job (I don't know whether that's available for you, in some states you can't work till 16), and if they have automatic deposit, have a percentage of your salary (or a fixed dollar amount) deposited in your savings account automatically. That way you never see it -- it goes right into savings.

Barring that, you can often arrange to have a fixed amount transferred from checking to savings every month -- ask the folks at your bank. My oldest daughter has this on her checking & savings accounts, and it's really starting to pay off for her -- after the holidays she ended up with more in her savings than I did!

If you don't have a regular job but get gifts, an allowance, pay for chores or odd jobs, you can do much the same thing. Figure out how much you want to save, as a percent, and put that much into your savings account. Do this with all the holiday checks you got last week. Do it with your allowance. Do it with the ten bucks you got for cleaning your neighbor's gutters and the money you got for selling your old Pokemon cards on eBay. Whatever money you get, put a percentage away.

Now, how much to save? At 15, you're probably still living at home, so you shouldn't have a lot of rent and utilities to pay -- so can you put in half? Three-fourths? All of it? Obviously, the more you save, the faster your account grows.

But it's good to have spending money, too. Experts are now recommending that you divide your money into cash to spend now, medium-term savings, and long-term savings. Your cash goes for movies with friends, something to eat and drink while you're at the theater, etc. Medium-term savings are for things that you may not have enough to buy right now but could within a month or two -- a new video game, a CD, a DVD, etc. And long-term savings are for things you want to have in a few years -- maybe to go towards a car or to start saving for college.

Whatever you choose, though, just start it. And if you can come up with an automatic way, that's the best. I love using the auto-deposit to contribute to my medium-term and long-term savings, because I never see that money and therefore it never gets spent out of my checking account.

Answer 3

Try an online banking account like

www.ingdirect.com

Answer 4

BUY SILVER
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