Originally Posted by dellbert
Try this interest rate calculator to see how much you could amass by saving the money:http://www.moneychimp.com/calculator...calculator.htm
If you save all your money for the next 10 years, it looks like you'll end up with about $200K at age 24. Not bad. (Assumes 8% growth.)
If only the real world worked like that
You usually have to lock up the money a lot longer.
However, dellbert is 100% correct, save save save! Start an IRA or other money making venture, talk to some knowledgable people about investing. You'll thank yourself when you're a millionaire when you're older
. However, I understand where you're coming from. I've been working 2-3 jobs every summer (one being full year) and it's nice to have the money now that I can't work as much because I'm in college. The guys in this thread are right, secure a way of getting some wheels before you do anything with your money. It'll be your life line in the end of high school (socially) and when you start to work higher-end jobs. Computer stuff is nice, but only spend money on it when you have the cash burning a hole in your pocket