Hello Personal Finance! Here is my current situation.
Earnings - I am currently 17, and hold a part time job. I make 10.25 an hour, and am currently working about 35-40 hours per week. Tax wise I believe I pay 8%, but I am fairly certain I am exempt. Over the summer, I am also partaking in 2 internships, which are late morning to early afternoon, for three weeks. Each internship is just 30 hours a week for 3 weeks, and I will be working my part time job on top of that.
Debt - I am currently in no amount of debt at all. I have nothing to pay for, and have no goals to save for as of now.
Banking - I have a savings as well as a checking account. I have roughly 3000 put away for a car. I have no other types of money accounts.
Questions - An amazing thing I read on this sub a while back was, "If you invest early, and do it smartly, wealth is inevitable." This has really sparked my interest in money. So, the main point of this post is what are the best possible places to put my money? College is a goal, but there is a very good chance I will have much of that covered due to a scholarship. Besides just putting money away, I am very interested in investing, and actually growing my money. I am interested in crypto (no need to answer crypto questions here, I understand it is risky, and I will 2000% diversify.), but I am also interested in stocks. With the information I have given you, honestly any advice at all you have for me, be it specific advice, generalizations, or even life advice, I will GLADLY take from you all. I know most of you are incredibly knowledgeable and want to learn as much as I possibly can. Thank you so much just for reading, and I hope you all have a wonderful day/night!
Edit - If anybody can provide a link to the money/tax "hotwords" That would be great. Ex:("income tax rates", "marginal income tax rate", "index funds") I can't do an effective google search because I'm not sure what they're called. I would really like to be literate in money/tax talk.
Submitted May 20, 2018 at 05:08AM by boatinwater https://ift.tt/2IyPF9i
