I need to make about 7,110 dollars in about 2 years! I get my permit next month, and i want to pay half of what the aumont is of the toyota yaris. i babysit too, so if you have any tips on how to put myself out there, tell me!!!
2007-04-14 10:13:31 · 7 answers · asked by Linda P 2 in Home & Garden ➔ Do It Yourself (DIY)
Lets do this in two steps:
Step 1:
You want $711.00 in two years (24 months).
Therefore, you must save/invest $272.35 per month
and earn at least 8% on the saving/investments (you cannot put the money under your mattress.)
That is $63.34 per week (4.33 weeks per month).
Here is the advantage of investing at 8%.
You will earn and invest $6,536.40 and the interest earned is $573.60 (so your money, the $6,536.40 earned $573.60 without you doing anything - neat, right? You get something (money) working for you while you sleep) and you get the $7110.00!
However, there are two opportunities with the solution above.
a> where do you get interest of 8%?
Step 2> how do you earn $63.34 per week to invest?
a > the most likely investment opportunity is in the Greatest Industral Engine in the world - the stock market with a mutual fund (look this up if you do not know what a mutual fund is). Cajole a CFA -Certified Financial Advisor - to help you find an "aggressive" Mutual Fund. Cajole because most CFA's do not handle small investors, so dress for success!
Step 2> You will have to have two or more jobs that will generate greater than $63.34 per week. Why? you have to pay for gas etc. to get to work. I assume you are about 15 to 16 years old so you will have to work 20 hours per week at $5.00 per hour. Therefore, if you work more than 20 hours, it is money for movies, sonic burgers, clothes - just disposiable cash! That is a good thing!
Jobs> baby sit, shop grocery lists for others, run errands, window washing for neighbors, mowing your lawn, walking dogs....maybe this is your next Question, "how can a 15 year old Girl/Boy make $5 dollars per hour with a drivers' permit?
Good Luck
Any math error are due to bad typing, hope you buy that!
2007-04-14 12:08:00 · answer #1 · answered by Cenan 1 · 1⤊ 0⤋
My oldest 2 are 19 months aside, and then there is two years and four months between #2 and #3. sure, i offered a double. I had 2 truthfully. a widespread stadium seating double (2 seats, one at the back of the different), and then a take a seat-n-stand. i like the take a seat-n-stand. I nonetheless use it, a minimum of as quickly as a week, and my childrens are 6, 5, and a couple of. there is not extra powerful stroller for journeys to the zoo or right down to the park, or perhaps in airports. i will positioned the older 2 on the stand section, and seat the youngest. At that ingredient mobility isn't the best, yet you're pushing one hundred+ lbs of toddlers, and 30 lbs of stroller. i did not like the classic stadium seating stroller. It replaced into too long and perplexing to pass.
2016-10-22 04:17:58 · answer #2 · answered by ? 4 · 0⤊ 0⤋
If you want to save money, you shouldn't be "splurging"on things. Splurging means buying things you can't afford. I think the word you want is "skimping".
Do you own the Toyota Yaris(?) or are you saving the money for a 50% down payment? It's more realistic to make a down payment that you can afford and then make monthly payments if you're buying a vehicle.
2007-04-14 10:34:58 · answer #3 · answered by susandiane311 5 · 0⤊ 0⤋
Make yourself a graft for your wall. Put the desired amount at the top, and draw lines to mark where the different amounts are. I am sure you have seen these outside of places that are fund raising. As you put money in your interest bearing savings account, fill in the the graft. It will be a constant reminder of your progress. It might help to put a picture of your goal at the top so you will constantly visualize what you are saving towards.
2007-04-14 23:12:22 · answer #4 · answered by edjumacation 5 · 0⤊ 0⤋
8% for an interest rate is high. i have an online savings account that's 5.?% and that's the highest i've seen. u'll be lucky if u find one that's 8 though
2007-04-14 14:57:08 · answer #5 · answered by Anonymous · 0⤊ 0⤋
if you're looking for ways to make money with out spending alot think crafty from recycled materials-check out etsy.com for some ideas- figure out what you'd be good at makeing and make soem stuff and try to sell it on ebay or etsy...
2007-04-14 12:01:02 · answer #6 · answered by miss m 2 · 0⤊ 0⤋
doesn't your town have four corners at every intersection?
jobs aplenty
2007-04-17 00:24:57 · answer #7 · answered by Anonymous · 0⤊ 0⤋