So i am 15 years old and i make around $1500 a month, currently i just use a normal savings account that doesn’t really collect interest. Im trying to find like an app or website i could use to keep all my or most of my money into, i want something thats going to collect interest and I’m able to take money out whenever, i also was asking for help with investing in stocks or what to invest and how much, i know these are pretty broad questions but any advice would really help
I need help investing/saving
byu/MainFennel8713 inpersonalfinance
Posted by MainFennel8713
5 Comments
Start here: https://www.reddit.com/r/personalfinance/wiki/commontopics.
saving for kids: https://reddit.com/r/personalfinance/comments/104tjyn/_/j36u2dm/?context=1
At 15 you are limited to what your parents are willing to do for you.
[https://www.ally.com/stories/save/kids-savings-accounts/](https://www.ally.com/stories/save/kids-savings-accounts/)
A simple way to do it is to keep most of your money in a high-yield savings account for interest and safety, and invest a small portion in a broad index fund like an S&P 500 ETF for long-term growth with a parent/guardian account since you’re under 18
Open a high-yield savings account (like Ally Bank or Capital One). At 15, use a custodial account for investing. Start simple, broad ETFs like VTI and focus on consistency.
At 15 you can’t open investing accounts alone, but you can with a parent. High-yield savings is a good start, then maybe index funds later.