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15 year old with $1500, what to spend it on and how to make more?

get into shoe collecting thats wat is currently taking all of my money, im sure u could spend that money pretty quick,lol go to vintagekicks and look for some deals
 
I'd suggest putting into a certificate of deposit, or if you don't want to do that, saving it. You never know when you might need it in the future (for example, car insurance, college tuition, etc.).
 
do you have an ipod? do you even want an ipod?

wait til Apple's stock goes below $60 a share. then when it starts to go back up, buy some, and then around christmas sell if for $90 a share ;) :D
 
bearbo said:
i think... don't quote me... CD is a kind of money market
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Money Markets are not CDs. Money Markets (like ING, or one's at your local bank) are accounts that accure interest while letting you deposit and withdraw. (some banks restrict the amount of withdrawls to 3 or so a month)

CD's are usually (there are some liquid CDs but you need a minimum amount of cash to start (ex $5000)) one time deposits that accrue interest over a specified time period. Once said time period is up you can either renew or withdraw the funds.

Sorry, I used to work at a bank.

bearbo said:
paypal doesn't give you interest.

do a certified deposite.
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Not true. You can earn return on your money. Currently it's at 5.02% APY
 
Spend it on a girlfriend/boyfriend.

I read in a newspaper today that 1 in 10 young men in the UK have paid for sex.

$1500 should get you something memorable.
 
Allotriophagy said:
Spend it on a girlfriend/boyfriend.

I read in a newspaper today that 1 in 10 young men in the UK have paid for sex.

$1500 should get you something memorable.
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By memorable do you mean the service or the unintended consequence of getting some nasty disease?

Unless you consider both memorable :D

Save your money!!!! I wish I did. :(
 
I suggest spending a little of it (as a reward), and saving the rest in an INGdirect mutual fund. You're young, you can take high risk. The Real Estate fund has returned about 30% for me since July.
 
I say buy that C++ GUI Programming Guide that you've wanted for so long. :D
 
I would say save it.

In a year when you're 16 you'll want a car. If you have to buy one thats $1500 more in your budget. If your parents are paying for part of it then thats $1500 more towards the car, which can get you something better. If you're parents are flat out buying/giving you a car you could upgrade it in what ever way you want depending on what kind of car it is.
 
Seriously, save it for a car or college as neither is too distant in your future (assuming you'll both drive and go to college).

Xyl said:
I say buy that C++ GUI Programming Guide that you've wanted for so long. :D
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Ha! :)
 
viccles said:
I say put it in the bank or maybe invest in some shares if you do your research?
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Exactly what I would do.

My dad bought gave some shares in his company when I was born. Sort of a gift I suppose, but I cashed them in when I was 15. Got so little for them, then my brother sold his a year later when it was booming. He had enough to buy us both Gibson guitars :eek: he was only 13. Really wish I saved mine now.

Yea. Invest is good. Very very good. Especially to pick it up at a young age it's a great way to make money on the side.
 
bearbo said:
why does a 15 yr old need a smartphone for?
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My friend's 13 and he has a Treo 700wx, and I'm 14 and I'm really itching for a Nokia E90. So pending, a teen can really want a smartphone and not a lame ol' RAZR. ;)


That said, I suggest you invest a little in some company. Practice on the Virtual Stock Exchange so you have some practice. Besides that, you could buy 1GB Micro SD cards on Amazon for $7 and sell them for $30 to people with RAZRs etc who want them.
 
G5Unit said:
I had a job last summer passing out flyers and I ended up making a LOT of money in a short period of time, around $2000. SO now I've spent, earned, spent again, and made some more money here and there and I am left with $1500. What should I spend it on?
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Why not consider putting it in the stock market?

For example, you could put $1,000 in a nice S&P 500 Index Fund and watch it grow over time. Great way to learn about the stock market and investing.
 
sell the mac
sell the 24" screen
sell the XBOX
sell the 'bunch of computer stuff'
sell your skateboard (unless you ride all the time)
same with the mountain board

then:
Buy a 24" iMac

or, keep your mac and 24", sell the rest, invest the money.
 
Use part of it for an IRA. My nephew did and after he graduated from college bought five acres of land. He always put as much as possible away and is now quite prosperous and only 21.
 
The reoccurring theme here is save it.

About the IRA. Not a horrible idea unless your planning to go to college in a very good job field. I considered and IRA, however where I currently work has a very good Retirement Plan and if I choose to stay with these people it would be difficult to maintain both at the same time.

Most IRA's seem to have much more restrictions and that money has to stay in until your 65 or so. There are special cases like sickness and buying your first house where you may withdraw without penalty.

I am not an expert though, but I am sure there is detailed explanations on the different types of IRA's out there. Just wanted you to keep that in mind, that I peronsally think it would be difficult to maintain two of these if you have a rough idea of what you want to do.
 
The Don Ditty said:
Cue The Banker :D

The Motley Fool - Difference Between Traditional v Roth IRAs
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Thank you for the nice little article...not to hijack, but ROTH is penalty free? I thought penalty free in certain circumstances.

Hell this thread might spurr to open up that IRA anyway.


EDIT: From Wikipedia;

"With a Roth IRA, there are heavy penalties for early withdrawals of earnings (withdrawals up to the total of contributions + conversions are tax-free). An unqualified withdrawal of earnings will result in federal income tax plus a ten-percent penalty on the amount. Fortunately there are many exceptions, such as buying a first home and paying qualified educational expenses."
 
In that article if you click the link that says IRA Area it further explains the differences and gives you examples of how each can save your money.

Hope that helps.

EDIT: You gotta love Wikipedia
 
If those Apple exec's are charged but not Steve Jobs, the stock will go down. I plan to jump on board with Apple Stock if that happens. If Steve gets charged as well, I am not 100% sure yet.
 
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