FundRobot » Growth Fund » What should I do with $600?

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Old   #1 (permalink)
 
Posts: 2,584
Default do with $600

Just got my taxes back, don't know how to manage money at all, interests include, music, retro sneakers, electronics.. I really want to start up my own website for buying and selling shoes, if you can help contact me drjakegreen11@yahoo.com

ForexCash10 is offline   Reply With Quote
Old   #2 (permalink)
 
Posts: 2,592
Default do with $600

600 dollars is not a lot of money. Open a bank account if you don't already have one and save it for a rainy day.

I think starting our own business is a great idea I think its going to take a lot of research and capital on your part. I think its a great goal to have.

Yes you if you want to buy and sell start with ebay you could do that now probably.
SweetHot is offline   Reply With Quote
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Old   #3 (permalink)
 
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Default do with $600

You can start a website pretty cheap. You can also start selling on ebay or locally on craigslist first and see if theres any interest in what you want to sell.
Money07 is offline   Reply With Quote
Old   #4 (permalink)
 
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Default do with $600

You can't do much with $600 in terms of investing. I would just deposit it into the bank.
Money07 is offline   Reply With Quote
Old   #5 (permalink)
 
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Default do with $600

Tax return money is not 'discretionary income,' [ Why do so many young people think that it is?] It's money that you earned and should keep in the bank for your NEEDS. You should have an 8 month emergency fund. Do you? If not, put the money towards your emergency fund. Regarding your possible business: Get a couple of good books on 'how to start a business' and do a lot of serious research first before you seriously invest any money into a business venture. Good luck.
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Old   #6 (permalink)
 
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Default do with $600

Don't listen to the scare mongers. Just remember to invest a portion of your earnings throughout life. No extreme need to lock your $600 in T-bills paying 0.11% interest right now. (Just think, in 20 years, compounded annually, it will be worth $613.34!).

Better to sell on a major site, ebay, amazon if you're just starting the cost of servers, merchant accounts, security tests, and time and effort, to keep a website running is more than the 15% and 2.9% ebay/paypal charges.
Money07 is offline   Reply With Quote
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