Your Questions About Investing Tips For Kids

Chris asks…

Is it a good idea to start thinking about money at such a young age?

I am 14 years old and I am planning on making lots of money this summer. I know I’ll earn a lot because I am a well-known babysitter in the neighbourhood and I am really at caring for kids. Anyways, I’ve been thinking about money a lot and I want to start learning about saving and finance before I get some money on my hands so I know how to spend it well. Whenever I get a lot of money, I always spend it foolishly and in no time it’s gone. Also, I think it’s important to invest well, so that when it’s time to start paying for pricey things like college or a car I am prepared and I really don’t want to be in debt when I am older. But it’s sometimes feel weird when I am thinking about this stuff at a young age and all my friends agree?! And if I were to learn some tips, what are the most important tips you guys can give me about money? What are some things that you wish someone told YOU about money when you were younger?

John answers:

One is never too young to start being financially responsible. I started working hard at your age and I was able to buy my first place when I was 19…worked my way from an appartment to a townhome, then into a 3 story house in a matter of 5 years. I was also able to become a stay at home mom by 22 just because I’m responsible with money and I’m very pround of myself for where I am today (at 27). No one guided me, both set of my parents were – and still are – horrible with their money. One of my first steps I did with myself was opening a bank account and then I made my zero $100. Then everytime I had more in there, I uped my zero to $500, then $1000, then $2000, an so on…this way I always had some spending money, but knew when I had to stop and still collected savings….before I was even 20, I considered myself broke with $20000 in the bank because that was my zero. There are always things to consider when purchasing anything, especially big items. If you have any questions, please don’t hesitate to contact me 🙂 I will be more than happy to help you. Good for you!

Maria asks…

I NEED A CAREER CHANGE!! PLEASE HELP ME OUT OF MY DEAD END JOB!!?

This is a serious question. I haven’t had the time for talking to a career planner and have heard many things from family/friends that don’t seem to fit me/seem impossible. I’m not expecting a 100% perfect answer here, just a few options that best suits me based on the info I give you. It may get crazy with really random skills/interests/abilities so please bear with me. Here goes:

-male
-27 years old
-half white/philipino
– NO COLLEGE
-work overseas as a warehouse manager for 7 years
-DON’T want to do any more logistics jobs (see reason in next few points…) but it is the only thing that could get me a better/higher paying job because I have real world experience/skills
-I like to draw/write stories (like comic book/video games stuff). my specialty(?) is character design and background story stuff
-not as good with computers (other than using software. not rebuilding them or anything) as I should be for a person my age
-I’m a martial arts assistant instructor (living in japan with a japanese head sensei… so a *legitimate* dojo and not a “McDojo”).
-i am social/good with different people but I can be super reclusive as well.
-i’m a very good leader and teacher (have credentials, references, etc if necessary) and can also take direction as well
-I’d prefer to have a lot of freedom and space to do my job without any management pressures (who doesn’t right?)
-i can complete difficult deadlines and can “step up” in an emergency/high priority situation but i don’t want to operate at that level as standard.
-i want a new career because I have ZERO job satisfaction where I am at.
-i DO NOT like customer service…. even though I am professional and actually have really good experience teaching others how to provide customer service… I don’t like doing it. actually BECAUSE I don’t like doing it, I developed positive tips and techniques to help myself and others take care of others efficiently and quickly to the maximum possible satisfaction to both parties. With this creative innovation.. I feel I am wasting skills, personality, and creative ideas in an industry that I do not wish to invest anymore.
-i am creative, innovative, a proven leader in a difficult customer service field (Marines are hard to please), physical but also a “thinker”…
-i can play video games/watch movies all day and point out errors or better ways to do things that will be more entertaining/make more sense
-I have ADHD-PI (self diagnosed so nothing official) which means I can’t focus on things that are not stimulating which is why I hate my current job so much: its so BORING/STRESSFUL!! Yet, I can get the job done with satisfactory – excellent results. Its just i’m getting to the age where I need more than just a paycheck. It is so bad that I’m on Yahoo! Answers asking strangers what should I do.
-Physically I am in great shape and handsome (not a cover model or anything but okay to look at if you were to have a meeting with me or as a customer service guy).
-no wife/kids so I’m relatively flexible in where I live or any travel involved in my job
-my personality can be very jokey and playful but I know time/place and never would do or say anything inappropriate given the situation. i could make a group of adults laugh as well as a group of kids. i have no problem making fun of myself and can tell people things very straight and avoid “beating around the bush” on topics. but still maintain sensitivity on certain topics as well.

*sigh*… I don’t know what else to say. i’m a fun, funny, smart, creative dude and I feel as if i’m wasting my life where I’m at. I often feel as if my company/customers/environment is getting more than what they paid for in me. that doesn’t mean i think i am “god’s gift” to anything… I’m just cutting out some of the modesty here to be honest as to who/what I am. actually most friends tell me this from their own words. i am constantly encouraged to “do something better” and “quit wasting my talent” and all that. I’ve had suggestions like, “be a famous actor”, “be a comedian seriously”, “be a writer”, “be a professional fighter”, “be a video game designer”, ….. something in entertainment basically. but everything seems soo… difficult to obtain or like winning the lottery.

okay, long rant. my bad. just help in a positive way please. encouragement goes a long way. trash talk gets rejected at the door.

help a guy out.

Thanks in advance…..

John answers:

“-I like to draw/write stories (like comic book/video games stuff). My specialty(?) is character design and background story stuff”

Have you considered the Dave School? They’re located in Florida and they work with pixar.

“-i can play video games/watch movies all day and point out errors or better ways to do things that will be more entertaining/make more sense”

Why not make video games? You wouldn’t be bored and there is a writing element as well as art element to video game design.

Check it out!

Charles asks…

I’m confused, should I stay with him? (PLEASE READ)?

Okay well I’ve been dating this guy for about 3 1/2 years now and I’m a little confused about him now. When we first started going out he seemed so right, not perfect but right. He wined and dined me, made me feel special, and lived up to his words. Lately things has been changing over the years. He barely takes me out me out to eat or movies or little fun stuff like that. When we do go out to eat or the movies I end up covering either my half of the bill or the tip and he makes five times more money than I do and has the same responsibilities as me. We always seem to argue about almost everything, we recently went to couples therapy and that went well but only lasted for a couple weeks then he went back to himself, I still use the tactics that they suggested to get through to him but he responds to everything so negatively.

Earlier this year he was complaining about money although he makes more than me, so he picked up more hours at work, now that he makes more money he complains about how its not enough. It seems like nothing is good enough for him he just complains about what he does have and then when he gets more he complains about how thats not enough. What makes it worst is that he walks around like he has an attitude because of the situation and it puts a damper on our relationship. Then he talk about how working the legal way doesn’t get you anywhere and how college is holding him back and I don’t like that type of mentality plus I know doing illegal stuff is not his style. The other day he got mad cause he though some guy said something to me and when I told him he didn’t he was still angry about it 30mins late. When I asked him why was he still mad about something that didn’t happen he said the thought of it made him mad and sometimes he just feels like fighting a guy to get it out his system. He’s either always angry or unsatisfied.

Early today he got mad at me because he is suppose to be going out of town with me to meet my family and he asked me were we coming back sat, or sun. which I told him sun. like five times and then he got mad and said I told him sat. and that this is messing up his money and that I dont give a S**** because I don’t have a job where I have to worry about how much time I take off and that he might not go cause he need the money. I was mad after that because we’ve been planning this for like six months. Then we made up and I tried to make things right before he went it to work, but then he started back again saying my family don’t give a F*** about him so it doesn’t even matter. I just don’t know why he’s been so angry lately, I stopped being sexually intimate with him because this is just getting to confusing and its a turn off. Part of me wants to leave him, but the other part doesn’t because he so sweet at times and when he does take me out its special and we talk about our future and kids and everything, plus my mom likes him. The only problem is that he was my first and I was his and to top it I was his first real gf, so I don’t know if this is hindering my true feelings, I don’t know if we really love each other like we say we do or if we just appreciate each other for what we are to each other.

Also to top it off, he doesn’t know, but I’m in love with my best friend. A part of me feels like my best friend is my soul mate and what makes me enjoy talking to the other guy is that first of all he asks me how I’m doing every time we talk, my boyfriend never ask me how I’m doing ever. The other thing I like about my best friend is that he tends to my needs, I tend to my boyfriends needs all the time, but he never tends to mind, I keep giving but never receiving. I feel like my boyfriend is sucking my energy, but I invested so much time in this relationship and all I keep thinking about he how romantic he use to be or how romantic he is about every three to four months, plus I don’t want to break his heart, because I’m his first love and he seems to really love me regardless of it all.

John answers:

Of course this is confusing for you, i used to be in that situation. First off, if your first boyfriend loves you, he should respect you without cursing and realize you’ve been with him regardless of his immature actions. Even though hes going through a challenging stage, i think its time for you to be with someone healthier, someone who fills in those holes that your boyfriend currently hasn’t. If you love your best friend, and you believe he is your soul mate, then go with it, you cant be with someone because you feel bad for him and he is sucking the energy out of you. Follow your heart even if it would hurt a lot. Good will come out of the right choices you make. 🙂 so basically go with your best friend because he makes you happy and loved. 🙂 wish you luck

Richard asks…

Guys Help would you do this if you were using a girl? advice from a male perspective?

Me (22) and this older guy (26) have been sleeping together for 2 months. We haven’t really talked about our relationship but I do believe it is more than sex. Me and the kid have been friends for over 5 years. We have quite the history and thats what makes me nervous. 3 years ago he wanted to be with me but i had a boyfriend at a time, and he constantly told me how much he liked me and how he never felt this way about a girl. But now 3 years later I’m unsure if the same feelings are there He takes me snowboarding, and out for food. But in the back of my mind im still curious if we are actually together. He always wants me to stay the night and when i do, he’s very cute and cuddly. Its more then sex we talk, he holds my hands all his friends and his roommate call me his g/f but he just never addressed it. He even told me he is going to take me out next week for my birthday. Its so nice to just chill and hang out with him. Somedays after we have sex we just lay in bed naked all day and play video games and watch tv. its just so natural and nice. I’m just confused with where i stand. The other day he mentioned me moving in with him and i just thought it was crazy being so soon, but i dont think he’d say anything like that if there wasn’t any feelings attached. Today we went to breakfest with him mom and seemed to feel like it was more but im just scared i will chase him away by bringing it up. I like him so much and he’s just amazing to be around he cooks me like these huge italian dinners so i do believe its more i just wish i knew whats going on his head. I just want to know how i can get him to show his feelings or if i should continue to let this play out. I do believe he likes me and I like him so much thats why im allowing it to be played out cuz i don’t want to rush anything. Any advice would be greatly appreciated. And any tips to you know to progress the relationship further. I’ve always had really strong feelings for him, and could even see myself marrying him which is a huge step for me, I’m just scared im gonna get too invested and get hurt.

John answers:

I don’t get why you want advice. You are having the time of your life with him. He is practically a dream come true for any girl. Continue to talk with him. Get to know each aspect of his life and advance in your relationship normally. I hope you guys get allot of success in life. Cheers 😛

Daniel asks…

I would like to learn the ropes…?

im just a 15 year old kid and loves money(who doesn’t). so im not old enough for a job and i only have about $135($50 in bank). ive heard stories from my teacher about doing stuff like taking a certain amount of money out of a bank account or putting in a certain amount to raise his interest rate. i never really catch on to his stories but he was talking about how his account had $500 and he was making $50 interest. he said because we were in a math class he couldn’t tell us how he did it. could anyone help me out? or tips on investing.
ps: i dont want “u should invest in your education” bs.

John answers:

Either you didn’t get the story right or your teacher wasn’t talking about just $500.

With a $500 balance there is no way that he can make $50 in interest unless he is going to leave this money in there for many, many years.

How interest works:

When the bank borrows your money and pays you interest it is usually done at a very low rate and the rate is calculated by a yearly percentage. This is called the APY = Annual Percentage Yield.

When they talk about APR they mean what the bank or credit card comany charges you (Annual Percentage Rate) for the money you borrow. Of course you, pay a lot more in interest when you borrow from the bank.

The most common way of earning interest on your money is by lending your money to the bank in the form of a Certificate of Deposit (CD). Right now the rates on CD’s are so low that you can barely get 2% for a one year term.

Percentages are calculated the easiest by taking the amount, dividing it by 100 and then multiplying by how many percent you are earning.

In the case of the 2% annual it would mean that if you give the Bank $100 for one year you would end up getting back $102 after the year is over.

So… Getting back to the $500 that made $50 in interest….
That would mean your teacher got an interest rate of 10% APY.
And even at that rate he would have to give the $500 to the bank for one year. There is no bank out there that offers a 10% APY…

And why would your teacher not want to let you know the details….?
Finances are all about MATH… Sounds as if he doesn’t want to you to figure it out?

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