I'm 18, graduated High School this summer and just got my first job about a month ago.
I work ~30 hours a week @ $9.14 an hour.. So I pull in about $800 after taxes.
Right from the get-go I opened up two additional savings accounts with my bank account (BECU) and started throwing 10 - 15% into each.. Right now they're both at 90$ (180$ total).
I also applied for a credit card and got approved by Capital One. (Just to start building credit history)
My problem ?
I still have quite a bit of left over money... Out of $800, with nearly $200 of it in savings already.. I still have $200 left over.. Nothing to spend it on. (The money I did spend went towards gas, oil change, 3 sets of work uniforms and dog treats.. okok, and some coffee
College is taken care of-- My grandma left me a $150k college fund.. I want to be a nurse, I will start college up in the Spring of 2013. I wanted to build up seniority at my work before having them work around my school schedule lol.
My job? I work at a grocery store (Safeway). So we have a union and 401k plans and stuff.. But I don't really know anything about it.. I'm a big saver.. I don't like going out places (unless walks with the dogs count?) and can do without many luxuries. I plan to live with my mum until I graduate college, it is cheaper and easier because moving with two 90lb dogs and a cat would be hectic and hard.
Should I open another savings account ? Learn about the 401k stuff (aka Enlighten me!
One savings account is an Emergency Fund for the dogs (I plan to build it up to $6k) and the other.. I don't know. Down payment for a car or house? An emergency fund FOR the car or house ?
Thankkk you ;o