At 18 He Already Has Almost A Hundred Thousand Dollars In The Bank

2024 Author: Steven Freeman | [email protected]. Last modified: 2023-12-17 08:15

How much money do you have in your savings account? If you are an average person, you may not reach many thousands, but you will be surprised to know that an 18-year-old young worker already has nzó when she saw that her parents had problems supporting her and her two brothers, so she wanted to win her own money. The first thing she did was take care of her neighbors' pets. Over time, she began to work as a babysitter for some acquaintances and, when age allowed it, as a waitress. Earning your own money helped her realize its value and has made it last longer "than if they had given it to me."

Last week the young lady graduated from high school and is proud to say that while her other classmates are just beginning to learn how to manage her finances, she already manages a checking account for daily expenses, has her own savings account and two investment accounts with Merrill Edge, including a Roth IRA.

And credit? Too. But, as a good administrator, she only uses one with a rewards program to get something in return. And she pays it, religiously, every month end, in full.

One of the secrets that have helped her nurture her savings figure, she says, is that outside of her support payments (she contributes to the food expenses at home, pays for her phone and car) she is strict when it comes to spending on things like your clothes and entertainment. This is how it is done!