My Current Situation

[PilotJ]

I currently do "Free-Lance" web design and marketing options. I've made several thousand dollars doing this. I currently have over 3,000 dollars saved in my savings, and less then 200 in my checkings. I'm only 18, and will graduate High School this year. I hate spending money, I spend 10 dollars the last 3 months and that was on a pizza. I want to become wealthy for security and wellness. A lot of kids at my school say I'm weird because I don't spend money. Someone once told me that they don't like me because I'm focused on money and don't spend anything or live a little. I'm happy with what I do and I love saving money. I've been researching on the best routes to take to minimize debt when I go to college. I've also promised myself to not get a credit card, and to only use CASH and DEBIT. I need some tips, hints, and your idea of what you think. I'm new to the community, and did not come here to be praised for anything. I just want to build my wealth at an early age and be free of worries of money. Thank you.

[Ima saver]

First of all, you are very smart to start young. I started working at age 12 and always saved a part of what I made. I bought my first home at age 21 cause I had saved the down payment. I sold it 10 years later and made a good profit. From then on, I never had a mortgage on my home.
The "things" your friends are buying now won't mean a thing to them in a few years.

[ir_dizzle]

PilotJ -

Don't listen to your friends - you're not weird because you like to save money and/ or don't like to spend money. You're so young and you are in a career where the sky is the limit for you. I'm just learning about internet marketing (which I really love) and I'm almost 2X your age - I'm jealous...!

As fas saving money for college, you need to apply for scholarships! My wife is a college counselor and she tells me all the time that there are scholarships always left on the table because simply not enough people apply for them. Even if you don't have good grades; there are a bunch of scholarships out there that are not just for people who have high GPA's - do your research.

Also, apply for financial aid - if you qualify you will get money towards your educational expenses. DON'T TAKE OUT STUDENT LOANS if you don't have to. I made that mistake when I was in college and it took me almost 10 years to pay off the loan I DIDN'T NEED IN THE FIRST PLACE.

You appear to have a good head on your shoulders - I think you will be fine.

[GREENBACK]

I currently do "Free-Lance" web design and marketing options. I've made several thousand dollars doing this. I currently have over 3,000 dollars saved in my savings, and less then 200 in my checkings. I'm only 18, and will graduate High School this year. I hate spending money, I spend 10 dollars the last 3 months and that was on a pizza. I want to become wealthy for security and wellness. A lot of kids at my school say I'm weird because I don't spend money. Someone once told me that they don't like me because I'm focused on money and don't spend anything or live a little. I'm happy with what I do and I love saving money. I've been researching on the best routes to take to minimize debt when I go to college. I've also promised myself to not get a credit card, and to only use CASH and DEBIT. I need some tips, hints, and your idea of what you think. I'm new to the community, and did not come here to be praised for anything. I just want to build my wealth at an early age and be free of worries of money. Thank you.

I would just say that you should learn to wisely spend your money. You're going to have to spend some at some point. Spending money is not a bad thing. Foolishly throwing money away is bad. I personally do not view all debt as bad but you must have a plan before you incur it. You can become wealthy and quite satisfied with your life without denying yourself everything. You're not weird but, yes, you should live a little...responsibly

[97guns]

you have mastered the single most important thing in becoming wealthy and that is the ability to save.

[Kooshiball]

I congratulate you that you are miles ahead from most of your friends. In fact most of people. As ir_dizzle said, don't listen what your friends said or hang out with these friends that pull your leg. If you want to be wealthy, you will need to hang out with people who have same mindset that want to be wealthy or already wealthy (you will become 5 closest people in your circle of friends or family). This forum is very good starting point and there are many local meeting group that teaching or discussing about investing. I recommend you to look for these meeting group and meet like-minded people.

Good luck!!

[Mr Nice Guy]

A lot of successful people have great social skills, so I get worried about your obsession with not spending. No one wants to hang out with a complete tightwad.

Continue saving your money, you are doing a great job. But hey man, don't let spending money stop you from going out with friends and developing good relationships. Be the guy to buy the case of beer once in a while (or energy drinks, whatever.)

If you listen to 97 guns and kooshi ball all your federal notes will be worthless soon anyway so have some fun with em

[photo]

I've also promised myself to not get a credit card, and to only use CASH and DEBIT. I need some tips, hints, and your idea of what you think.

A credit card is not evil. In fact, it can be very beneficial, if used correctly, and can help your credit score and also will allow you to do some things much more easily (eg: car rental and hotel).

Being frugal is an excellent way to live. However, living an ascetic life can be miserable, so finding a balance will be important.

[Kooshiball]

A credit card is not evil. In fact, it can be very beneficial, if used correctly, and can help your credit score and also will allow you to do some things much more easily (eg: car rental and hotel).

Being frugal is an excellent way to live. However, living an ascetic life can be miserable, so finding a balance will be important.

I agree with Photo, we need the credit card for various occasion as Photo said and it is essential for you to build the solid credit by using credit card because you will need the credit some point in the future whether or not buying new houses or investing in rental properties for wealth accumulations. This is matter of how people use the credit card.

Good luck!

[snafu]

People who want to accumulate wealth certainly need to be more than one dimensional. Friends are important as they help you hone your social skills. You need to know about people if only to learn what works and what is best avoided. Going to university opens the door to start new friendships as well as study teams to to pull each other through course work and assignments.

Start researching financing, grants, scholarships, and what internships you could qualify. Ask school counselors for assistance and direction. Try to get accurate information for costs and set up a couple of budget scenarios. You need a couple of credit cards and we know you will use them without costing yourself fees or interest. You are smart enough to be frugal, gracious without appearing to be a cheapskate.

If you take student loans, know the payback rules/regulations details. Is there any forgiveness provision?

[MonkeyMama]

Welcome!

The best thing you can do is start young - so you have that covered.

A lot of kids at my school say I'm weird because I don't spend money. Someone once told me that they don't like me because I'm focused on money and don't spend anything or live a little. I'm happy with what I do and I love saving money.

Get used to this - people will tell you this your whole life.

& a place like this is a good place to get support.

Balance is important, but I am not quick to judge that you are out of balance. I've been told my whole life I should *live more* though we have the means to *live more* than anyone we know - and we certainly use it and live. For example, I worked very hard in college and graduated debt-free with straight As. But I Also had a VERY well rounded college experience (boyfriends, extra-curricular activities, travel, you name it). People look at you working 3 jobs and immediately assume you have no life. Past college and earning real money is the same perception with our savings and anti-debt focus, but we bought our dream home when we were 25 and my spouse hasn't had to work for the last 10 years, since. I think we are doing okay on the *living life* spectrum. People will criticize you for being different, which is generally sign that you are different because you are doing what *you* want to do - not what others tell you that you should be doing. OF course, I have never had any problems meeting like-minded people. My spouse is a perfect example, but some of my best friends in the world are of the same vein (we don't spend money just to spend, because others pressure us to, etc.). Just to say, being focused on savings certainly doesn't rule out having friends, but you will find it easier to achieve financial goals with like-minded people or at least with people who are understanding that you are different. I have several friends who are not near as frugal as I, BUT who do respect my frugal choices and respect that I have better things to do with my money than eat out with them all the time. Stuff like that. & I have certainly found it more trouble than it is worth to try to be friends with people who don't care about what is important to me. Which in that case, is so beyond the money, but more about respect and the kind of qualities I Want in my own friends.

BTW, I have had a credit card since I was 16, and my spouse has too. I have never paid a cent in credit card fees - I simply pay off the balance every month. My no-debt parents advised me to do so to build a credit history, which has bought us low interest rates on our home and lower auto insurance rates, etc. Not to mention I earned $4000 in free credit card rewards (CASH and gift cards) this year. Be careful with the credit card, but don't knock responsible use of it. For me it's been absolutely beneficial to build wealth. Saving an extra $4000 is no small beans to me! & I am currently getting a 4% interest rate on my home - which is unreal. Thanks to the high credit score! You can certainly choose to treat a credit card as if it were a debit card, if you have the discipline. To me, it's simply habit since I have never chosen to treat it otherwise. The interest and late fees are reason enough for me to not carry a balance - I am a tightwad.