What are some good ways to save? What are the best ways for teens to invest? What are tips for budgeting? etcc..
2007-08-30 16:27:58 · 4 answers · asked by yvetteb93021 3 in Business & Finance ➔ Personal Finance
I do not need ideas on how to make money. I need advice on what to do with it.
2007-08-31 07:12:44 · update #1
if you went to a broker like edward jones and invested say $15 dollars every two weeks in a growth income mutual fund on top of say a 400 opening balance and added to it every two weeks you would have about 100000 when you retired!!!
2007-09-03 10:34:24 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Search banks online with the HIGHEST interest rates 5-6% is a good start) on savings account. Some of them are offered online. They will send you deposit slips. Your parents must co-sign the application for the account until you are 18. But watch your money GROW.
I suggest Sharebuilder.com in addition to a high yield (savings account because it teaches you how to save and invest in stock at the same time. PayPal.com has good interest rates too.
Do the research and bring it to your parents. You may even help them save better too.
2007-08-30 16:43:33 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I would suggest opening a bank account and simply putting the money in there so that you aren't tempted to use it too much, and even if you are tempted you have to withdraw it so it makes it so that you have time to think it over before you buy anything.
2007-08-30 16:42:03 · answer #3 · answered by Woden501 6 · 0⤊ 0⤋
Read "Rich Dad, Poor Dad." I'm sure they have it at your library.
2007-08-30 18:20:25 · answer #4 · answered by Katherine W 7 · 0⤊ 0⤋