Hi. I am wondering what to do with the $1,100 my dad gave me when we moved. I am 13 years old right now. Should I save it for something big, or spend it on Xbox games and stuff?
2007-03-04 16:47:20 · 15 answers · asked by Anonymous in Games & Recreation ➔ Other - Games & Recreation
Give $110 to charity (10%) and put the rest into a good mutual fund and DON'T TOUCH IT. You'll be VERY happy you did this later on in life.
2007-03-04 16:50:55 · answer #1 · answered by It's Me 5 · 0⤊ 0⤋
It's not often you get a large amount of cash. IMO, allow yourself to enjoy about $50 to $100, but definately save the rest. As young as you are, they're still many decisions about what you'll want to do with your life as you get older. $1k isn't a lot of money in the grand scheme of things, but it could be all that's needed when the right opportunity presents itself.
Talk to your parents if they know, or talk to someone at a bank (and always get a second, and third opinion) about placing the money in a CD or some type of account or fund that'll earn interest. Research the pros and cons. You may want to just open a savings account so that you can continue to add money to it.
And then, when the opportunity comes your way to make an investment, whether it be a down payment for a car, or for your education, or whatever will help you move forward, you'll have the means to seize it instead of helplessly watching it pass by.
2007-03-05 05:43:52 · answer #2 · answered by composer 3 · 0⤊ 0⤋
save it for a rainy day, you never know when you will need to buy food, or pay a bill.
At 13, I was pretty much on my own (though I lived with my parents they were never home) and would have horded the money for food, or incase the electricity was shut off.
If you save it long enough you might be able to use it as a down payment on a car later, and believe me you will want it when you get a job.
2007-03-05 00:52:07 · answer #3 · answered by Harmon 4 · 0⤊ 0⤋
Spend $50 and save the rest!
2007-03-05 00:55:44 · answer #4 · answered by puma 6 · 0⤊ 0⤋
I'f i were u I would save it and put it in a bank or somthing because u never know when the next big thing will hit and if u want it BAM!! u got $1100 in the Bank baby!
2007-03-05 00:51:02 · answer #5 · answered by Anonymous · 0⤊ 0⤋
dude 11 hundred bucks is some cash, save that up! Ok spend like 1/4 of it now, i'm not to good at the saving
2007-03-05 00:51:49 · answer #6 · answered by Sinner 2 · 0⤊ 1⤋
save it up take a bit say $10 to buy something you like with it
2007-03-05 07:07:43 · answer #7 · answered by charizard 2 · 0⤊ 0⤋
Screw the XBOX im telling dont spend it on XBOX. GET AN IMAC COMPUTER!!!. THATS THE BEST THING YOU COULD BUY RIGHT NOW. TOP OF THE LINE!MAKE AND EDIT MOVIES. DOWNLOAD THE XBOX GAMES ONTO YOUR MAC. MICROSOFT MADE XBOX ANYWAY! PLZ DONT SCREW THAT UP. I TELL YOU THIS FOR YOUR WELL BEING
2007-03-05 07:19:09 · answer #8 · answered by tribute_13 3 · 0⤊ 0⤋
NOOO - save it. keep it in a bank account
for when your 16. im 16 now and have no
money at all for a car, and i really want one
=]
2007-03-05 00:55:11 · answer #9 · answered by chelsღ 3 · 0⤊ 0⤋
No, no, no Give it to me duh!
Kidding ask your parents to open you up a savings account and put it away, until something comes up.
2007-03-05 01:37:05 · answer #10 · answered by K_pink05 3 · 0⤊ 0⤋