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Your parents will most likely start one for you, and interest rates are approximately .01% to .05% depending on the bank.
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When you purchase this big item with your own money you have lots of responsibilities now including insurance, maintenance, and self-care.
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This enables you to save money that you have worked for. In addition you will also have some of your money sent to federal and state taxes.
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A Checking Account for an early age teen should be a debit card. This allows teens to practice using a card and checking how much is in the bank before you purchase items.
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With only $500 to $1,000, invest in the stock market and start to invest in companies.
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A Credit Card is important to build your credit score which helps you purchase better and more luxurious items in the market.
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Paying your monthly fees on time from your credit card increases your credit score and enables you to stay debt and interest free.
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Enables you to make more money
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Wether it's through your job or some outside insurance, make sure you choose one that best fits you and your lifestyle.
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Set 10% aside from every paycheck you receive to go towards Retirement.
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It's time to hang up your boots and relax, if you've remained responsible and saved your money then you will have a nice retirement.
