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Old 08-01-2006, 04:52 AM
Broken Arrow Broken Arrow is offline
Foot in mouth diseased
 
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Default Re: Need help with my budget.

Uh... ooookay.

I apologize in advance that I didn't read everything.

Basically, the gist I got out of it is that you'd like to do something about your finances. By being a teenager, I assume that you're still living with your parents, right? And that your earnings are mostly disposable?

Here's something I'd really like you to think about: Roth IRA. Max the contribution every year (currently, the max is 4k). It's something that you will LOVE LOVE LOVE some day, especially if you start saving up for it now!

Next, I'm sure some day, you'd like a house. Wouldn't you like that? I think we all do eventually, right? So, just start a house fund with an online bank account, and start socking it away!

How about a car? Do you want a car too, or is your parents already providing you transportation? If not, it wouldn't hurt to think about saving up for one as well. Same thing here. Just open up an online bank account and start socking it away.

I think I saw somewhere in there that you'd like to be able to travel. Travelling, and any other kind of projects for that matter, will require savings. So, just set up a travel fund and start saving up again!

After that? Well, if you want to use it for shopping or food, then by all means, go ahead. There's more to budgeting than this, but if you can just get started and keep funding all of these savings, then you'll be well ahead of the game!
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