How do I start investing in stocks and stuff?

As a fresh-out-of-first-year-of-college ne'er-do-well who was in a similar situation to you just a few years ago, I might be able to give you relevant advice. As you can already tell, these guys (who actually know what they're doing) will suggest you put your money away in a savings account (which can really add up over time, if I started saving 50 dollars a month when I turned 15, I would have saved 2,400 dollars) WOW thinking about it now that's a lot of money I've wasted, when I could have a pretty 2,400 buckaroons sitting around in a savings account.

A lot of money-gurus suggest taking steps to save money, e.g.

  1. Emergency Fund (For real emergencies: hospital visits, unable to use bank accounts, etc.) Dave Ramsey, the guy whose advice I'm basing this off of, suggests $1,000.

  2. The 3-6 month unemployment savings fund (though at your age, I would just combine the two, at around $1000. Although when I took the liberty of looking through your page I saw you didn't like your job, so this could be a good idea if you really want to quit your job).

  3. This is where you'd start building money to invest in stocks and whatnot (though I'd suggest mutual funds, they're a less risky investment and can build up over time) Where you can invest a certain amount per month if you'd like, or a chunk investment like /u/MaxAddams suggested.

Now, I want you to think about any expenses you're likely to incur over the next few years. If you get a car you're going to have to worry about paying for insurance, gas, maintenance, etc. (not including the original price of the car). Are there any places you want to travel for spring break over the years? Will you have to rent a tux (or even buy one, that's what I did) for any proms you might be going to? These are all things I didn't think about when I started making money at your age. You might consider setting aside a fund dedicated to these costs that you funnel money into monthly.

Finally, being financially aware. A lot of wealthy people are unwilling to buy things because of how much they cost, even though they have the means to do so. Why, you might ask? Well, how do you think they got to their level of wealth today? By being careful with their money, weighing their options, and asking themselves if it's really worth it. I suggest learning as much as you can. For example I learned from Dave Ramsey and these sorta tacky videos we had to watch in my Personal Finance class. I'm not sure how PF feels about Dave Ramsey, but I thought he brought up some interesting points.

Sorry for the blocks of text! I don't usually post/comment but I saw something of myself in your post and thought I might be able to offer you some insight you might find valuable.

/r/personalfinance Thread