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Financial advise - Rip off of Phyregod's thread

Discussion in 'Members' Lounge' started by Kanned, Mar 4, 2007.

  1. Kanned

    Kanned Beast

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    So I've been looking into saving up some money in some sort of high interest account. First off, I don't know jack about anything you guys are going to say to me, so please try and speak in lamens terms. To anyone that would be so kind as of to help me out here, I'd like to know what kind of account an 18 year old full time employee and part time student with no credit could get. Who do I contact to apply for this account? What kind of rate do you think I could get? I'd truly appreciate any advise given and thanks in advance =D.

    -Sean
     
  2. jamesA

    jamesA Well known pissed off telephone guy VIP

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    It's advice. :)
     
  3. Kanned

    Kanned Beast

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    I meant financial advisory? Yeah, that sounds good.... You're giving me the wrong kind of advice, asshat. =P
     
  4. jamesA

    jamesA Well known pissed off telephone guy VIP

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    Find a credit card company that will give you a line of credit. My first credit card had a limit of 250 dollars.

    I used it, I paid it off every month. I did that for 5 years. I opened other lines of credit, used it, and paid it off every month. My score shot up to the mid 700s.

    Credit will help, if you don't have a solid career I wouldn't worry about trying to save money, especially being in college.

    Don't use my advice as "go out and buy all the electronics and car parts you can", though.
     
  5. jeffie7

    jeffie7 Wrong Whole! VIP

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    A quick tip is to close your savings account, F that Chit! put your money into something like ING direct or any investing company.

    I use both scottrade.com ($500 min) and vanguard not sure what the min is for vanguard.

    both companies offer 3+ % for just having the money in their account even if its just sitting. with ZERO risk. ING direct might be in the 4% range.

    Also if you're setup with one of those guys you could easily try out trading stocks even if its only $50.00 worth of stocks just to test the waters.
     
  6. cheese9988

    cheese9988 Senior Member VIP

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    I use Scottrade, definetly would recommend them. I have a few dollars taken out of checking every week and deposited into the account, I buy some stocks when I see a good deal, I gain (hopefully) money from that and the dividens to buy more. Keep in mind I have lost some money, taken me awhile to regain what I did lose.
     
  7. get_nick

    get_nick These snozzberries taste like snozzberries... VIP

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  8. Kanned

    Kanned Beast

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    Thanks, I'll sign up at work tomorrow so I can pester you all on another forum =P.
     
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