Should I be saving the money I earn for college?
I'm an upcoming junior in high school and I work a minimum wage job. It's more of a part-time job or internship, but I've been saving most of my paycheck for college because I'm almost terrified of not having enough money to pay for it. I've been stressing over finances and scholarships and I haven't even started my junior year in high school. But a part of me wants to save the money just in case I need it when I'm older, although there's another part of me that just wants to be a kid and spend most of my paycheck on things I like.
8 answers
Terrell’s Answer
Your priority is making sure you have money for school, so perhaps you save 90% and spend 10% on yourself from each paycheck or consider an 80/20 split between saving and spending. We should all partake in enjoying the fruits of our labor.
Good luck!
Adele’s Answer
Kaori’s Answer
Try to look for bank accounts that have a good APY% to maximize your savings in the long run!
You'll find a lot of options in the link below
https://thecollegeinvestor.com/22105/best-savings-accounts-students/
And, let's say you get thay precious scholarship, then you have a great amount of savings you can use for emergencies or just to support your needs as a student 😉
Good luck !
Kaori recommends the following next steps:
Keyston’s Answer
Taj’s Answer
Jerome’s Answer
I’d pick a dollar amount that makes sense to have in savings ($2,500, $5,000, etc) and work towards getting that saved. From there keep saving a little at a time, but have some fun!
Depending on your state, you can get grants and support to get an Associates Degree nearly free of charge.
Good luck with the decision you make!