What You Should Do With the First Thousand Dollars You Earn

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y parents for years. I was working full-time as a security guard. I could have been investing in CDS and putting extra savings into a money-market account. I spent a lot of money in those years with nothing to show for it.</p><h2 id="65ee">You can still have fun, but save some of that money for later</h2><p id="b1fc">Younger people, kids still in high school can learn from my mistakes. They need to be forward-thinking. It’s easier to start adulthood with a fat bank account. Get a part-time job while you’re in high school.</p><p id="ef6b">The temptation will be to think like a kid and blow the money on stereo equipment or cars. Don’t do that. Invest in CDS and money market accounts. You can still splurge on fun stuff, but keep the future in front of your mind.</p><h2 id="1fcf">I broke a CD early and ended up homeless, don’t do that</h2><p id="b202">Once you have the CD. You will freak out over how much money you’re saving. My advice is not to break the CD unless it’s necessary. I had a CD for several years. I got in a jam and thought the best way out was to break the CD.</p><p id="4d77">When I could have used the money to save myself from eviction I didn’t have it because I broke it earlier to pay some bills. I don’t want anyone to go through what I went through.</p><h2 id="85ab">I haven’t had that much money since I lost it the first time</h2><p id="af5b">I keep telling myself that if I have the chance to have money like th

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at again, I will do better. I haven’t had the chance because I haven’t been able to make that much money since then.</p><p id="ed7e">That’s the thing, you don’t always get another chance. Be smart with the money you have because it’s hard to get it back once it’s gone.</p><h2 id="9713">Final Thought:</h2><p id="1d3a">Adulthood can be hard. It’s best to prepare for it when you’re young. If you’re in high school and working part-time you should save as much money as you can. Think of the future. There will be time for fun, but you need to prepare as best you can for when life tries to kick your butt.</p><p id="dbe3"><a href="https://lawsonwallace.medium.com/subscribe">If you enjoyed this story, why to get my stories in your inbox?</a></p><div id="2790" class="link-block"> <a href="https://readmedium.com/you-might-be-wondering-how-you-would-adapt-to-being-homeless-i-have-some-advice-for-you-eaee6e24ad91"> <div> <div> <h2>You Might Be Wondering How You Would Adapt to Being Homeless. I Have Some Advice for You</h2> <div><h3>I learned from experience</h3></div> <div><p>medium.com</p></div> </div> <div> <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/1*gVtb5vWVz8ETrl94E1gnog.jpeg)"></div> </div> </div> </a> </div></article></body>

You can still have fun but think of your future first

It’s the mid-nineties. On my night off I’m looking through my bankbook. I’m gloating because I always have at least a thousand dollars in my checking account. I would spend a little, then I would save up some more, and spend what I saved. That ended when I decided I needed a credit card for the first time in my life.

I was responsible with my credit, but at some point, I went off the rails. I can’t go back in time and change things, but I can change what I do now and in the future. I can also advise so I can save someone from being homeless.

You will want to blow that first paycheck, but think about it first

When you’re young and still living at home you need to think in the long-term. The best thing to do with the first thousand dollars you make is to invest in a CD. If you invest in CDS and let them roll over, you will have money for emergencies or whatever.

I was living at home with my parents for years. I was working full-time as a security guard. I could have been investing in CDS and putting extra savings into a money-market account. I spent a lot of money in those years with nothing to show for it.

You can still have fun, but save some of that money for later

Younger people, kids still in high school can learn from my mistakes. They need to be forward-thinking. It’s easier to start adulthood with a fat bank account. Get a part-time job while you’re in high school.

The temptation will be to think like a kid and blow the money on stereo equipment or cars. Don’t do that. Invest in CDS and money market accounts. You can still splurge on fun stuff, but keep the future in front of your mind.

I broke a CD early and ended up homeless, don’t do that

Once you have the CD. You will freak out over how much money you’re saving. My advice is not to break the CD unless it’s necessary. I had a CD for several years. I got in a jam and thought the best way out was to break the CD.

When I could have used the money to save myself from eviction I didn’t have it because I broke it earlier to pay some bills. I don’t want anyone to go through what I went through.

I haven’t had that much money since I lost it the first time

I keep telling myself that if I have the chance to have money like that again, I will do better. I haven’t had the chance because I haven’t been able to make that much money since then.

That’s the thing, you don’t always get another chance. Be smart with the money you have because it’s hard to get it back once it’s gone.