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What is an easy way to save money?

What is th best way for a 13 year old to save money?

  • Hi, i am 13 years old and i have a savings account at TCF bank and I was wondering if there is a good plan or way to save money. I get $13 a week and just put it in the bank. what do you do to save money? is it a good way to save? And I don't want any old plan I want a plan that can save me a lot of money and will work for a long time because it is hard looking for help. Thank you, the best answer will get my vote and I will tell my friends about the answer and the person who gave me the answer.

  • Answer:

    You're smarter than the average 13 year old. Checking the TCF bank website, I see that they charge a monthly fee. Try looking for a bank that does not charge for savings accounts. Or, check on-line banks ( INGdirect, Discover Bank,, a local Credit Union etc.) A nearby credit union may be your best choice as you can build a relationship with people might be able to help you later with college loans, car loans, mortgages and more. I would wait until you get over $2,000 before looking at anything more advanced. Savings Bonds are not a great choice as they are not paying much interest and they lock up your money for years. You may need some cash for college expenses in a few years.

Tyler Grebner at Yahoo! Answers Visit the source

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At 13 dollars a week you could potentially save 676 dollars a year. You could take that money or part of it and buy say some 100 dollars U.S. Savings bonds from your bank. Savings bonds..keep over a certain period of time will make you more money than a savings account would. Talk to someone at your bank and see if savings bonds are a good option for you.

JON

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