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Savings Account Opened at Birth
Your parents will most likely start one for you, and interest rates are approximately .01% to .05% depending on the bank. -
Buy Car
When you purchase this big item with your own money you have lots of responsibilities now including insurance, maintenance, and self-care. -
Get a Job
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. -
Open a Checking Account
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. -
Start looking into investments
With only $500 to $1,000, invest in the stock market and start to invest in companies. -
Receive a Credit Card
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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Pay Monthly Credit Card Bill
Paying your monthly fees on time from your credit card increases your credit score and enables you to stay debt and interest free. -
Get post college/high school Job
Enables you to make more money -
Pick a Healthcare Insurance
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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Retirement Plan
Set 10% aside from every paycheck you receive to go towards Retirement. -
Retire
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.
