What should a kid do with 5000 dollars?

Question

im 14, and i've just inherited 5,000 dollars. what charitie(s) should i give to?

Answer 1

Give it to yourself.

Go to a community college with this money and get an AA degree

(Associate Arts)  

Answer 2

Stick in the bank and save it...charity begins at home, you know.

Answer 3

Forget charities for  the moment. Put it in a savings account

Answer 4

Donate it to St.Jude Children's Research Hospital

P.O BOX 50

Memphis, TN 38101-9929

Answer 5

Put it in a CD, let it mature for the next 5 years and add money to it. Then use it to fund college. Seriously. Investing in your education is a lot better use of the money than giving it to a charity - charities do short-term help. Education is long-term, and maybe you'll do something useful.

Answer 6

A car.. or college..

Answer 7

dude, save at least some of it for college! do you know how much that costs?

Answer 8

hello you are off to a great start- put it into savings now for retirement, start that fund now and continue adding to it and you will be on the right track.  good luck.

Answer 9

no child inherits money.  it's saved for a specific reason, or held until you are 18 or 21.  no one is just going to leave a CHILD that much money.

Answer 10

save it all for college, if u were an adult i would say give it for charity, but since u are a kid definitely save them !!

Answer 11

I would save it for college!

Answer 12

keep it in bank until you need it and don't lose in something stupid

Answer 13

If you really want to give it to a charity, why not a charity that provides services to help severely disabled people, like a service dog charity or disabled Veterans charity. Those types of charities help the economy out too since they help people be more self sufficient and less dependant on assistance.

If it were mine, I would save it for college or invest it. Read about investing in mutual funds, then do it. Have major stock brokers like Vanguard, Fidelity, and others send you information. Choose the company that you feel most comfortable with. I chose Fidelity due to their ease of use, but you can choose whatever.

Play online with a savings or investment calculator.

Giving to charities is good, but what if you could make that money grow in order to give more to charity? Getting a college degree will most likely help in getting a good job. Also, paying for your college upfront means more money available in the future (instead of towards student loans) that could be given to charity or used as you like.

Charities would also love you to volunteer with them. That way they get help and you get experience that will help you in the future.

In the end it is up to you.

Answer 14

I agree. Save at least half. Buy CDs (certificate of deposit, not music)  or some other low risk investment. As for charities, pick something you are passionate about and find one that works with that.

Answer 15

Save it.  You will probably need it for your future.

Answer 16

save it for college---worry about charities when your rich from having a good job from going to college!