-
x

Meet New Friends!

Recommended friends are based on your interests. Make sure they are up to date.

Friends ff8c072dd79a91c1300f032d674241a8d64367100ffb1f25fa3f9bec4a05319f
Kidzworld Logo

How to Save for Something Big

Whether you want to save up for a cool video game or your college education, you're going to need a financial game plan. Just ask your parents who probably labor away, constantly dealing with having to manage a yearly efile, paychecks, bills, and savings of their own. When it comes to establishing a financial plan, check out some of these ideas that'll get you started!

Get a Savings Account

If you're serious about saving your dosh, keeping it in a shoe box isn't going to cut it. It's time to start a savings account. This account should be separate from your checking or "spending money" account. Look for a bank that offers a higher interest rate (that's the money the bank pays you to keep your cash with them) and also make sure they don't charge you a lot of service fees. In fact, a lot of banks don't charge kids any service fees at all, so shop around to find the right bank for you.


Start Saving Your Money Now

The next step is to start putting money in your account. Start with whatever you have, whether it's five bucks or a thousand, it all helps. The best thing to do is to make a saving plan. Decide how much you're willing to put aside every month and then do it. If you already have a checking account, most banks will be able to set up an automatic transfer every month - so the cash will come out of your checking account and go into your savings automatically. This is helpful cuz it's way easier to save money if you never have a chance to spend it in the first place.

Advanced Options: Investing Your Money

If you have a serious goal (paying for college, backpacking through Europe after graduation, etc.) the best idea is to start making your money work for you. The way to do this is to invest your money somewhere where it's going to make more interest than in your savings account. Here are some options:

  • Bonds: When you buy a bond it means you are lending money to someone (for example, your government or a company). With a bond you get a higher rate of interest than with a bank account, but you have to wait longer to get your money back (sometimes 10-15 years).
  • Stocks: When you buy stocks you are actually buying a tiny piece of a big company (for example, you can buy stocks in Disney, McDonald's or Nike). You can often make a lot of interest in the stock market but you also run the risk of losing money too. If the stock goes down, the money you get back from your investment goes down too.
  • Mutual Funds: Mutual Funds are like investing on your own, but instead you pool your money with other peeps and invest in a bunch of things (stocks, bonds etc.) with the help of a financial manager. This is a good option cuz you have a professional doing all the hard work, and it is less risky since you don't have all your investments in one place.

Other Investment Options

There are tons of other investment options out there and a financial advisor, banker or a money-savvy 'rent might have some cool ideas for your specific situation. If you're trying to save up for school, you might find that your government offers some saving help. Some countries and states will chip in to your college fund, while others will give you (or your 'rents) tax breaks. Check out your government's web site or ask your school counselor.

Related Stories:
41 Comments

Related Stories

Micro babysit article
Babysitting is a big job with lots of responsibility, but it can be really fun, too, and a great ...
If your parents have been stressing over money and you feel anxious because of the environment, w...
Micro kidpreneurs article
Kidpreneurs … it’s kind of a funny word to say, right? But there’s nothing funny about having a g...
F1113348125343

Where Do You Get Your Cash?

  • I get most of my cash from my parents.
  • I have a part-time job.
  • I get most of my money for my birthday or Christmas.
  • I do odd jobs like babysitting and cutting peoples' lawns.

General In The Forums

unicornsrule626
So i'm a pretty positive person and love to be positive all the time. And sometimes i hide my emotions from my sister and family, who are all also very positive and supportive. I don't know why i do it, i just don't like to cry in front of them. I usually wait till my sister is asleep and everyone is downstairs then i lock myself in the bathroom and cry my heart out, then i dry my eyes and walked out like nothing has happened. Is this a problem?  Or is it just my teenage brain making my act all weird? Please give me some advice
reply about 1 hour
icedmc28
icedmc28 posted in Say Anything:
December 27 :/
reply about 2 hours
tomboy_girl12
my bday is may 9th!!
reply about 3 hours
ThePaleWalker636
(Requested by @snoopynwoodstock123 ) (Sorry this one's shorter than usual. I wanted it to be to the point, but it was fun to write. Enjoy!) Shin and Oka were bent over an array of smoking potions, dark vials, and musty powders, arranging them in the intricate patterns of ritual. Silent except for panicked, labored breathing, Oka grabbed a vial of a sickeningly sweet, dark red liquid and began tracing the lines of charcoal pencil already drawn onto the stone floor. Oka closed her eyes for a second, holding her breath. “Shin, hand me the book.”  He did so with trembling hands, and Oka turned to the proper page of the dusty book. The pages almost crumbled in her hands because of age and wear. The exotic and disgusting ingredients, the pentagram drawn upon the floor, and the pages and pages of Latin text proved that this was not your every-day ritual, but instead the last ditch effort of defeated prey to escape from a hunter that prowled throughout the hallways, prodded on by insane lust. For the past six hours, a first year student had been rampaging throughout the school, slaughtering all in her path, and, after being contacted by the police, she took hostages of all surviving the initial attack. Oka and Shin had just managed to escape and begin to prepare an attack of the supernatural kind. Oka took a deep breath and began reading the accursed text. Shin held his breath as the words on the water-damaged page began to glow a faint red, glowing brighter and brighter and pulsating like a heartbeat as the seconds ticked by, each feeling like an eternity. Suddenly, they heard a sound that sent chills like spiders of ice racing down their backs: a giggle, a laugh from just beyond the door and footsteps prowling the surrounding halls. There was a monster lurking outside with an intent to kill. Oka’s voice lowered to a barest whisper, but she could not stop the chant, or they would have to begin the process over again, and that would take time they didn’t have. The footsteps grew closer, each foot fall sounding like a sledgehammer in the silence of the corpse-ridden school, echoing in the ears of the two hidden students. Shin began to tremble, and Oka wanted comfort him so badly, but she could not put down the candle of dripping black wax in her hand or murmur any words except for the ancient Latin text. Then, with a glint in his eye of fierce determination, Shin stood up, and Oka’s eyes followed him curiously while her mouth continued to usher forth the chant. What was he-? “Oka,” he whispered. “She- no, it is going to find us before the ritual is complete.” Oka’s eyes suddenly widened in panic as she began to predict in her mind what he would say next. Shin continued, “I won’t be of much help in the fight, but I can be a distraction.” Shin held up is hands to try and calm Oka as she began to shake her head furiously, but unable to say any words to stop him. “It’ll buy enough time for you to achieve power enough to stop her. Goodbye, my friend.” Shin bent down and gently kissed Oka on the forehead. Oka screamed internally, begging him not to go, but he could not hear her thoughts. With the fate of a martyr before him, Shin reached up to the door that was framed by streams of light, and at the last second, he turned back to Oka and smiled sadly. He blinked, and a single tear rolled down his face. Then his head turned back to his fate. He reached up, and pushed the door open. The last seconds he was in view felt like slow motion as Shin stepped away from the dark room into the harsh, unyielding light that enveloped him like a gateway to wherever Shin was going after death. Then, the door swung shut. Oka could only watch the doors close and hear the echoing screams of laughter and the disgusting sounds of a knife penetrating human flesh. Screams were swiftly silenced but ended with bubbling croaks. Oh, Shin, she thought in agony to herself as tears streamed down her face. Shin, why did you have to do that? Curse this ritual that prevented me from saving him, from stopping him! It’s all my fault, oh, Shin!! A final, gasping gurgle issued from the space outside, signaling Shin’s death.  Oka said the ending words of the ritual with gasping, sobbing breaths. A dark mist began to swirl, like living shadows, and Oka could feel the rush of strength and passion that was poured into her form as arms, pale as ghosts with fingernails red as blood, erupted from the ground like hellish flowers in a circle around the now-floating Oka. They responded to her thought and will, twitching with anticipation of vengeance. Oka could feel the strength and speed coursing through these new extensions to her form. With a mere flick of her finger, the arms reached up and tore the door separating Oka from her enemy effortlessly, leaving the doorway dusty and open. Yandere-chan, the monster, a psychopath for love, stepped through the door way, covered with the blood of one of Oka’s only friends. She looked at Oka while stroking her dripping blade with the look of someone exhilarated by the thought of a true fight at last, and Oka screamed with tormented laughter somehow more nightmarish than Yandere-chan’s own. This was going to be a hell of a fight.  
reply about 4 hours
endlesssky
June 9th
reply about 4 hours