/biz/ - Business & Finance

Don't buy crypto, talk to your banker, say you want your money to work for you. 800 is an okay start for someone working part time. Your bank is your best bet.

you need to give more information. is there a planned purpose for the money? how long do you want to hold it for?

$800 isn't much money for investment purposes, and the interest rates on short-term, liquid investments are very low. your checking account is a fine place to put it because you're more likely to need the money (just assuming based on your age and income level) and typical savings rates will only get you a few dollars of interest in a year. you don't have enough money to qualify for most money market funds.

>>12243649
Spend it on a fun New Years Eve bender like a normal 18 year old. Get high, get drunk, get laid.

You need to grow some balls and transfer 100% of it to binance and buy shit coins or you will never make it

>>12243730
I’m still in high school. I don’t like spending money on stupid things (my hobbies are very inexpensive) and I like to live frugally. My family is upper middle, so I don’t have to leave aside much for emergency funds, but I want to begin investing wisely, even if it is a lousy lump sum at the moment.

I guess my goals are to simply maximize how much money I have in an account.
>>12243668
Is crypto really that poor of an idea? What if I only threw in a bit?

>>12243798
all in crypto. buy shitcoin alts in early-mid 2019 when bear market is at its worst. wait two years. /makeit/

>>12243668
OY VEY

I'm just 1 year older than you, imo crypto or a sniff of helium

>>12243649

>>12243798
It isn't outright, but use it as a hedge. Think in percentages and build a DCA that you can afford to lose.

I just suggest not because you'll be alone on that money making venture when a bank can create a reliable percentage gain.

For instance I do a 5% DCA on a 4000$ cheque into crypto. Its enough, and 10% into my banks investing account/high interest savings.

>>12243857
Should I just hodle it?
I know /biz/ has a mega link to crypto guides: does anyone have it?

>>12243798
>I’m still in high school. I don’t like spending money on stupid things (my hobbies are very inexpensive) and I like to live frugally. My family is upper middle, so I don’t have to leave aside much for emergency funds, but I want to begin investing wisely, even if it is a lousy lump sum at the moment.
>I guess my goals are to simply maximize how much money I have in an account.

i think you're fine just putting it in your checking account.

you don't have enough money to buy most investments, and won't make enough interest on most of them anyway. disregarding the minimum investments, let's say you put it in something earning a (generous) interest rate of 3%. you would make $24 in a year. are you sweating $24?

if you played with stocks, ETFs, ETNs, you're going to pay more in brokerage fees than would make it worth it to invest. if you want to have some fun then buy 3x daily ETNs and ETFs, you could make (or lose) a few bucks and you'll learn some lessons about investing that are cheaper to learn now, than when you have serious money.

the important thing is you are frugally-minded and see the importance of saving.

>>12243904
Dont buy biz shilled coins, 100% pnd

>>12243904
depends, you can also bet against crypto by shorting it if you think it'll go down. If crypto goes bull again and you're in a good position you can really make a x10 but who knows when or if it'll happen

>>12243979
He could leverage forex. I started in forex.