Consider the age at which you can get a driver’s license. There’s no sense in purchasing a car before you can legally drive it, so establish your timeline based on when you can actually drive the car you buy.
If you are planning to take out a loan to buy your car, have at least 20% of the total price ready to pay in cash as a down payment. You will also need a co-signer on a loan; your parent or guardian will need to guarantee the loan.
The price of a car doesn’t end when you purchase the car. Take into consideration other factors like car insurance, reliability and gas mileage, which will add to the ongoing maintenance price of the car.
Compare different types of jobs to see if there are certain jobs that will pay more. Babysitting, for example, can potentially pay more than a minimum wage job, although the hours for babysitting may be more sporadic. [3] X Research source
Put up flyers around the neighborhood that advertise your skills. Dog walking, yard work, and babysitting can be good jobs that neighbors often need help with.
Put up advertising around the neighborhood in order to increase traffic to your sale.
Credit unions are a good option, as they tend to have fewer fees than regular banks.
A checking account can be more convenient if you need ready access to your money. This can, however, make it more tempting to spend your money instead of saving it.
Check with your bank to determine the exact requirements for opening an account.
Record deposits, along with any withdrawals (account fees, your own spending, etc. ) in a register to track your balance. Compare with your bank statement every month. You can also track online through internet banking.
