Hello!, I’m 14 and I do chores around my house and soon i’ll be getting a job at 15 my parents pay me via credit card buying games etc should I trust paypal to hold my money in a new paypal account until I reach $300? I put 20% of my earnings from chores into a savings account my parent’s own for me. I will not be making any purchases with the account it will be completely new I just need idea’s on what I should do? Thank you for your time :).
Hi there Vexizor,
and a warm welcome to these forums.
Over the the pond in the UK, banks are generously
paying 0.25% interest on our savings accounts. 
If there is a similar situation your side of the pond,
then I would suggest that you just use a piggy bank …
…strategically placed on your bedside cabinet. 
coothead
2 Likes
It’s probably pretty reliable, although personally, I’d prefer a direct deposit to a normal bank account.
If your bank accounts don’t have a charge i’d just pick a savings account and use that. You normally get better interest if you don’t have to take it out for a period of time. In the UK you can have a fixed 2 year savings account for example. You can get the money out in that time but you lose the interest.
The advantage with that is you will be less tempted to spend it and you get a better interest rate (although not really worth it at the moment as said above).
either way well done for saving. You’ll thank yourself in the future.
This topic was automatically closed 91 days after the last reply. New replies are no longer allowed.