As the title said, I’m 15 years old and have AU$1400 saved up. I no longer have a job and am working on a small business of mine, which has just $300 in revenue in the last few months.

The reason I’m here is because I’m not sure if I should invest in some compounding assets or something else, and if I should educate myself on stocks/dividends before making a decision?

I have read finance books such as Rich Dad Poor Dad, the Warren Buffett Way, and others, so I do know a lot about finance/business considering my age.

I previously had a job as a dishwasher for AU$16 per hour, and so I got $1700 from that after working for 5 months.

If I should ask this on a different r/, please direct me there so I can figure out what I should do :)

  • moneymakingviking@alien.topBEnglish
    1·
    1 year ago

    Couple of options I’d Recommend:

    1. Keep it in Savings
    2. Invest it in an Index fund like the S&P500 or FTSE All World
    3. Hold it in a Cash Account where you get interest on the total amount (Trade Republic is great for this)

    Ideally don’t have your money just sitting there otherwise you’re going to devalue the amount due to inflation!