fireFly
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Lion,
I think that is amazing that you actually have that much cash to save and that you actually care enough about what to do with it! That takes quite a bit of wisdom!
I am 26 and didn't save much money. I recieved about $10,000 when my grandparents died. I didn't go and spend it on all kinds of things, but I wasn't near as shrewd as I should have been with it (considering how I have none of that money now).
This may be some common advice, but I would highly advise you to stay away from any car that you have to finance. In many cases, you'll pay less for a "not as cool "fixer-upper" than a newer car, and especially a NEW car.
You may already have known this, so please forgive me for answering a question you didn't ask. But, I said it because you can be shrewd with your money, and you can still have some of that money still working for you when you are my age. Hey, just because you have the cash for something doesn't mean you should buy it.
Find a high-yield savings account and keep as much as you can in there at all times! (Citi and ING Direct both have online savings accounts with no minimums and easy liquidation).
Be blessed and don't let others drag you down. Wisdom is worth much more than any amount of cash! |
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Jynx
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no give it to me. LOL
seriously, its your money do what you want |
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caroline s
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I think that it is great that you are working hard and yes it is goood! |
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thehereyes
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of course!!!! im 18 and i dont have anything want to lend me a grand? lol |
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ursportsguy
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Yes it is fine since you are saving up the money. Its not like you are wasting it. |
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snowy_wreak
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if the 18 year old boy likes money... then yes |
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purpledeucegirl06
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Sounds good to me. Don't blow all your money |
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Helen W
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Tee hee- if you worked for it and managed to save that much- I'd say that's really good. (At first when I only saw the question I thought you were asking if it was good to give a kid 6500 dollars...)
It gets really hard to save up money after you start living on your own though- so its nice to have some buffer/safety net savings.
(Personally- if you have spare cash- i'd do something like a high interest savings account or a relatively low risk investment such as a CD- although you can't access your cash right away- its better than letting it sit in a bank doing nothing...) |
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Colette B
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Yes if you do the right thing with it. Save it or spend it on something necessary. |
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CanadianBlondie
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Yes, it is good, and will eventually come in handy when you move out on your own . |
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Jaclyn&Dave
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I don't see what the problem is....it's your money. Just don't be stupid with it. |
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brandon4568
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well a friend of mine from high school got 10% of a 100,000$ trust fund that his grandfather had set up with the remains of his company assets before he died when he turned 18 and get the rest when he turned 25. he bought a small nice used truck and invested the rest into his own construction company. now he drives a new fully loaded dodge 3500 has 18 employees and a company that will provide for his family for the rest of his life. just be smart with your money and it will take you a long way. good luck |
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little miss sunshine
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Yeah its totally fine:) As long as u spend it one good stuff and not drugs...At least yo have a job..I need one..yeah u are lucky.... |
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Tim
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YES! Use it to buy a car or save up for a house. I'll bet I wont have that kind of money when I'm 18 because I spend it all to quickly. |
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Your Friend, The Stranger
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No my friend, that is a horrible idea. Why would you be so greedy and not send this money to the children in Africa, who are in dying need? Please, stop being so inconsiderate. |
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