HELP MY FIRST PAYCHECK i dont KNOW WHAT TO DO WTIH IT , HELP ME OUT PLEASE!!!!!?
by Aquaboy on Friday, July 9th, 2010 | 6 Comments
hi everyone ok im 16 and i just got my first paycheck at my first job ever which is so exciting! Anyways well i dont know what to do we the money should i save it should i spend it should i do both? agh i dont know ummmmm well we’re going to have uniforms for school next year so it be pointless to me to buy clothes but i could save up for the uniforms should i save it for college or go on a shopping spree since ive like never got so much money well i got 290$ i dont know if that seems little to you but i dont know help i really want to go to the aquarium should i do that with the money or what? i dont know help me decide? new shoes a haircut< definately
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save it for college so you dont have to work when you are there
i say u make a list of what u really need for the next school year. then prioritizes what is more important and of more need. also keep in mind ur a junior right? and well ur senior year ur going to spend a lot of money with Formal, sadies, prom, grad night, and a lot more stuff. u could probably save it. u will need it. also u can also give ur parents a helping hand it doesn’t have to be much.
send it to me, and let me spend it for you
Pick one thing that you really want or want to do , then do it .
It’s a reward to yourself for working hard .
Take the rest and start a savings account .
The money that you save can be either used towards college , a car ( if you don’t have one & have your license ) ,
or some thing really big that you’ve always wanted but could never get .
A college fund though would be great .
Congratulations !!!!!!!!!!!!!
Save!!! Place 10% in savings, 10% in 4O1K (You may not be able to do this yet so just double up on savings), 10% toward charity!
This still leaves you with $203. If you pay yourself first…in ten, twenty or fifty years that little bit of savings/discipline will have become a life long habit to you becoming indapendantly wealthy!
Trust me it will be hard at times…exspecialy while you are in college…but stay as close to saving 20% from every check and you will be greatful later in life!
Congratulations…I recommend you spend the $203.00 on
1st – Buy a “how to handel/invets/save money” book (half.ebay.com)
2nd – Pamper yourself for all your hards work!
I could say spend some on a trip to the aquarium ( like you said , you really want to go ) or something else you wanted … and save some . Remember , you still have more “pay check” coming . Give yourself some reward for working hard girl …