My 13 yo son wants to know--money burning a hole in his pocket
2007-10-15 02:28:48 · 11 answers · asked by colebolegooglygooglyhammerhead 6 in Business & Finance ➔ Personal Finance
This might sound silly but I would put the money in an IRA, and buy him a small gift. It is becoming quite popular today. He will have almost 60k by retirement. It will teach him what $200 really can buy over time.
2007-10-15 02:52:01 · answer #1 · answered by jewls011 3 · 0⤊ 0⤋
A U.S. Savings Bond ($100 for his future)
and
Kiva ($100 investment to help others and the planet)
He will learn about small business owners, micro-lending, and how lucky he is to live in the U.S. compared to the rest of the world, and when his loan is repaid, he can choose to help others or get his money back out to buy something for himself.
http://www.kiva.org/app.php?page=about&action=how
2007-10-15 09:50:36 · answer #2 · answered by Theresa 6 · 0⤊ 0⤋
Make him put half into a savings account and only spend the other half. 13 is old enough to start learning the value of money and saving.
2007-10-15 09:46:25 · answer #3 · answered by npk 7 · 0⤊ 0⤋
A great cell phone or an i-pod. An expensive watch could also be a good investment. How about a stero system for his room?
If I were him I'd keep saving though, so I could buy a car when I'm 16.
<3
2007-10-15 09:33:11 · answer #4 · answered by Anonymous · 0⤊ 1⤋
Invest in a cd, or just stick it in the bank. Teach him how to save, so he will develop that habit by the time he leaves your home. That is an invaluable lesson; many people don't know how to save and it gets them in trouble. Our global economy means things are not going to settle down for the workforce; we need to have that nest egg.
2007-10-15 09:42:31 · answer #5 · answered by Leopardlady 4 · 1⤊ 0⤋
A savings account.
2007-10-15 11:17:52 · answer #6 · answered by Anonymous · 0⤊ 0⤋
probably some type of video game or system! kids love that stuff... perhaps a bike or something
2007-10-15 09:31:04 · answer #7 · answered by Anonymous · 0⤊ 1⤋
shoes, outfit or videogames
he probaly can get all 3
2007-10-15 09:31:36 · answer #8 · answered by daddynard1010 4 · 0⤊ 1⤋
if it was my son definitely get him a ipod nano
2007-10-15 09:41:35 · answer #9 · answered by aussiebabe81 2 · 0⤊ 1⤋
get him a bike... no video games
2007-10-15 09:31:12 · answer #10 · answered by Anonymous · 0⤊ 1⤋