Ideas on how to manage my money?

[Brackis]

So I'm 18 years old working 45 hours a week getting minimum wage with Habitat for Humanity. I do however, get free housing.

Since I took this 1 year position I've accumulated about $4000 in savings on my way to around $7500 by summertime, but it's just sitting in a BoA checking right now and growing every 2 weeks.
What would you do with 4-7k? How would you save it and what would you purchase as a young adult living independently for the first time.
I've bought myself this nifty Dell 6000 to satisy my basic computer needs and I'm not fond of spending all of the rest on gizmos.

Cliffs: I'm not a reckless spender, but I have no financial experience to base decision off of.

 

[AgaBoogaBoo]

Are you in school?

 

[GhettoFob]

Emigrant Direct/ING Direct savings account

 

[Brackis]

Originally posted by: AgaBoogaBoo
Are you in school?

No, but I will be either in september 06 or 07 all expenses paid.

 

[minendo]

ING Direct for now.

 

[mugs]

Originally posted by: minendo
ING Direct for now.

 

[DaWhim]

I bought i-bond with my money.

 

[OdiN]

You should send it all to me. I will invest it into the economy.

 

[Ready]

You should buy a BMW asap

 

[jadinolf]

Originally posted by: Brackis
So I'm 18 years old working 45 hours a week getting minimum wage with Habitat for Humanity. I do however, get free housing.

Since I took this 1 year position I've accumulated about $4000 in savings on my way to around $7500 by summertime, but it's just sitting in a BoA checking right now and growing every 2 weeks.
What would you do with 4-7k? How would you save it and what would you purchase as a young adult living independently for the first time.
I've bought myself this nifty Dell 6000 to satisy my basic computer needs and I'm not fond of spending all of the rest on gizmos.

Cliffs: I'm not a reckless spender, but I have no financial experience to base decision off of.

You seem to be doing well. You don't need us.

 

[Brackis]

Originally posted by: jadinolf

Originally posted by: Brackis
So I'm 18 years old working 45 hours a week getting minimum wage with Habitat for Humanity. I do however, get free housing.

Since I took this 1 year position I've accumulated about $4000 in savings on my way to around $7500 by summertime, but it's just sitting in a BoA checking right now and growing every 2 weeks.
What would you do with 4-7k? How would you save it and what would you purchase as a young adult living independently for the first time.
I've bought myself this nifty Dell 6000 to satisy my basic computer needs and I'm not fond of spending all of the rest on gizmos.

Cliffs: I'm not a reckless spender, but I have no financial experience to base decision off of.

You seem to be doing well. You don't need us.

Thank you, I just have no knowledge of what options exist for savings besides a traditional savings bank account and traditional stock investments.

 

[TallBill]

The best way to save money is what you are doing, actually putting money aside and saving it. People will argue and say you can get 3, 5, maybe 7% on your money, but honestly the difference between 3 and 7% on 7,000 dollars isn't going to be amazing.

Edit - I should say, that just because you have money doesn't mean you should look for a reason to spend it. I have a few things that I want to buy, and could easily pay cash for right now and my wife and I would be just fine financially, but we have goals so over time I slowly get things that I want.