Quote:
Originally Posted by David M
That's excellent FEAR....don't spend it all on "wine, women and song". Make sure you invest a good portion of it for your future.
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He's right. If i managed to bank as much as I did on a $10/hr salary, you can definitely get yourself started towards a good future. Right now i'd stick with savings accounts and CD's...stock market is still too volatile. I called it a day on the stock market when i lost $500 or so of what i invested, im now almost 100% out of stocks. Regardless, at 19 years old I'm in much better shape financially than most people I know. They might have newer computer hardware or go out to dinner more often, but I get more satisfaction from what I'm doing with my money. The other day I checked the total interest earned on my savings account since i opened it - $1990. Alot of people my age don't even have $2000 saved, and I have $2000 just from the interest my account has accrued since i started it in 2000 (I started the account with $300 on my 12th birthday, and kept depositing money I saved from doing odd jobs and eventually real jobs). I plan to do a masters program in school, at which point they will stop covering my tuition under scholarship, but I should have just about enough money to pay for it on my own, which is a pretty good feeling.