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$1000 -> $more than 1000???

Discussion in 'Congregation of the Masses' started by Ballad, Jan 23, 2011.

  1. Ballad

    Ballad

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    i huys

    I've got $1,000 to work with. I want virtually nothing. Opening a bank account would be dumb - the interest is so small that with price inflation and degrading economy any interest I may acquire would be at least even and therefore not matter. Considering I'm 15, I'm still getting food, transportation, housing, etc, free, so I have no use for it there.

    I've decided since I have about 2.6 years left before I am on my own, I want to use the time to put together as much money as I can using the $1,000 I have right now. Anyone have serious ideas how to make something out of this?

    Keep in mind I am 15 so that limits some options, I am not willing to become a drug trafficker either.
  2. ala

    ala
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    Use it to make copies of a resume and get a job for more moneys
  3. UncleSam

    UncleSam

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    Invest 900$ of it in stocks.

    And 100$ of it in a rope to hedge your bets.
  4. Ramblin Wreck

    Ramblin Wreck

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    Put the $1000 in a bank.

    Pass the time it takes for it to gain interest by whoring yourself out for even more money.
  5. Aku

    Aku

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    GIC's
    fixed interest rates (read: don't have to deal with the economy)
    no fee's
    and thanks to the economy probably the best interest rates around anyways.
  6. comatthew6

    comatthew6 Uther's Noble [Ball]Sack
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    put it in a certificate of deposit (CD) account. You won't be able to withdraw the money without losing some (but seeing as you're 15, you probably won't need immediate $ anyways.
  7. Deck Knight

    Deck Knight DK! DK! Donkey Kong is here!
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    Unfortunately since you are not yet 18 some investment vehicles are not available. When I was 17 I had a little bit of money saved up and grandmother helped me open a CD. Since you have 2.6 years left see if you can get a CD with a good interest rate on it. You'll need someone to co-sign the investment with you.
  8. jwoozie

    jwoozie

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    Reading this makes me want to open up a CD. Travis Credit Union requires a minimum deposit of $500 and the interest for a 6 month CD is 0.40%.
    Is that a good interest rate? And is it like a savings account where the dividend is posted monthly, or only at the time of maturity?
  9. sax king

    sax king

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    Save it until you actually want something, instead of saying "Gee, I could really use $1000, too bad I wasted it on that stupid shit a few years ago". You may not want anything now, but in a little while, you're going to wish you hadn't wasted that money.
  10. iDunno

    iDunno

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    Buy one tousand bagel fo one dolla an sell dem fo 2 dolla. Instan profeet.
  11. cim

    cim happiness is such hard work
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    Set up a CD if you're lazy and want no risk.

    If you want to have some fun and risk, stock market.
  12. Shiny_Tyranitar

    Shiny_Tyranitar

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    That money will be gone before you know it, so put it in an envelope... and mail it to me
  13. mzenken

    mzenken

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    Set up a CD with a good interest rate. (just like what everyone else has been saying)
  14. Xav

    Xav

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    get a job.
  15. Zacchaeus

    Zacchaeus
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    Well, since you're still in high school, you can do what I did which earned me $200 my freshman year and it costs very little but I'm just putting this here because you're being wise with money. Warning: It's illegal, so don't do it in front of business teachers or anything like that, and if your school still doesn't want you doing it, you should be fine to continue doing so before and after school hours.

    1. Buy an up-and-coming candy (like a new Wrigley's 5 Gum or Skittles flavor [I used Crazy Core Skittles]) IN BULK. The more you buy the cheaper it is usually
    2. Sell it at a convenient price that earns profit (I sold at $1)
    3. Buy more
    4. Profit

    And it gets you slight popularity and whatnot. But the majority here says that setting up a CD is a good idea, so I don't doubt that they're right. But, adding a few hundred bucks to the CD would also improve interest
  16. McGrrr

    McGrrr Facetious
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    Lol not this. You'd get screwed by commission on such a small investment.

    There really isn't much you can do profitably with such a small sum. Just stick it in a bank or pick one of the following:

    [ ] hooker
    [ ] holiday
    [ ] red or black ONE TIME BABY
    [ ] Vegas (all of the above)
  17. Brammi

    Brammi

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    Gamle it in a skill game such as Poker.
  18. WaterBomb

    WaterBomb because exploding camels wasn't enough
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    These exist?

    If you want to make more money than you started with, you'll want to be more aggressive with your investment. CDs aren't really going to help you because they usually don't outpace inflation, but you're talking about such a small time frame that you probably won't even feel the difference. If you're comfortable with your own knowledge/research or you know someone who knows alot about it, stock market is your best way to noticeably increase that money. Any other "fixed rate" investment is only likely to earn you 2-3% a year, which over that time period nets you what, like an extra 100 bucks if you compound continuously?
  19. cim

    cim happiness is such hard work
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    haha skill game good one kiddo

    don't gamble it, mainly because it's illegal for you to gamble at 15
  20. Chubbs

    Chubbs

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    I'll happily win it off you in a game of blackjack. The one game I have luck at.
  21. Cooky

    Cooky

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    Do this and say its for a homeless charity to both double your demand and gain teacher consent. Higher demand = price inflation as well so remember to charge extortionate amounts.

    You can't have a conscience if you wanna make money, I mean just watch the social network, betrayed friend --> angel investment. boom
  22. Optimusje

    Optimusje

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  23. mingot

    mingot free agent
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    I like this one, but I would stay away from gum, if possible. It's easier to get away with when it's candy with a finite chew time. Kids smacking gum all day gets noticed. I used to have a dude who drove a nabisco truck that lived down the street and would break into his garage and steal boatloads of bubaliscious brand gum and sell it at school. I got put out of business within the month, but the guy who sold jolly ranchers managed to stay in business for the rest of the year. Gum just pisses off school administrators.

    Also, you should not do B&Es to steal your supply. Use costco and/or sams. The profits won't be as high, but still.
  24. Bartman101

    Bartman101 Banned deucer.

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    Buy 2 iPhones; they're £500 each.... oh wait this is crappy dollars, $1000 is only worth £750, meh.
  25. Veedrock

    Veedrock

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    £500 for an iphone is pretty steep.

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