What is the best thing to do with my money at the age of 17?

Question

i have around $7000

and i want to make the best use of my money (get more money out of it)

but ill be going to university in a year so ill need some access to it in a year

should i put it in a GIC,stocks, should i buy antiques?

Answer 1

With only a year to invest it, you should talk to your bank about a safe investment.  You don't want to gamble with it in the stocks or antiques when you need it for school in a year.

Good luck.

Answer 2

Put it into a high interest savings account, or a CD account with a lower penalty time (1 year) Stocks are risky, you could lose it all.  

Answer 3

High interest savings account...

You can find them at about 4% per annum and you can take the money out at any time so you're sure to have it when you need it for school in a year.

I use a high interest savings account to keep all my money in so all my money earns interest until I go to university in about a year, so I'm pretty much in your exact situation. I use a President's Choice Financial savings account and I can go online and start a transfer from the savings to my checking and it only takes one day. So I just keep a small balance in my checking for daily use but most of my money is earning interest until I need it next year.

Answer 4

naw you should save up for car