Q:

Are there any good jobs besides babysitting for people my age?

Mary Ann, age 14

A:

     Yeah, Mary Ann, 14 is a hard time. You're a teenager, but the big jobs are still about a year or so away. Babysitting isn't too bad though, I know some girls that make a ton of money at it. Check around, sometimes there are other jobs you can do. My sister had a job at her middle school when she was 14 as a janitor. Not too glamorous, but if money's what you're after...

Q:

When should I buy a car?

Jason, age 28

A:

     Jason, this is what my parents told me. You should buy a car when you can afford one. So, depending on your money situation, go for it.

Q:

Who made the first coin? What did the first coin in the US look like?

Jake, age 13

A:

     The first coins are believed to have been made by a people called the Lydians, who lived around 630 B.C.. They were made of a material called Electrum, which is a pale yellow, natural mixture of gold and silver. The first American coin was probably the "Willow Tree" Silver Coin made in 1652 by the Massachusetts Colony.

Q:

Are you even real?

Loolue, age 10

A:

     Yep, I'm real. My real name is Mark, I'm a real kid living in SLC.

Q:

What is the best credit card to get?

Robert, age 14

A:

     The best credit card is one that charges you the lowest interest rate possible, doesn't charge you an annual fee (you have to pay them money every year just to have the card!), and has an online protection guarantee.

Q:

If I'm saving for a car, and I have 2 years to save, with 20 dollars a week what's the best type of investment to make?

John, age 14

A:

     Since you're just starting out with $20, I'd probably try and find a checking account that pays you interest, and then start socking it away there! You really can't put it in the stock market because you have such a small sum (initial investment) to put in, and a CD (Certificate of Deposit) from a bank really requires you to put in the whole sum at once, rather than adding a bit at a time.

Q:

How do you find the tax?

Michael, age 11

A:

     Okay, this depends on which state you live in, so I'm going to pick Utah. The sales tax rate in Utah is 6.60%, so take the price of whatever it is that you're buying then multiply that by 0.0660, then add what you get to the price and bam! Let's look at an example really quick. Say you wanted a PS2 game that costs $50.00. Let's times that by 0.0660 which gives us $3.30. So we add that to the $50 and we get $53.30.

Q:

If $789 was in my bank and I had an interest rate of 6% how much money would I earn monthly?

Julie, age 12

A:

     Another math problem! First, divide 0.06 (6%) by 12 to get the interest rate for each month, which is 0.005 (.5%). Take your $789 and times that by 0.005 (.5%), which gives us $3.95. That's how much will be added to your account every month. Banks have what's called "compound interest" which is way cool, check this out. So now you have $792.95 ($789 plus $3.95 in interest), so next month times $792.95 by 0.005 which'll give you $3.96. Do the math again next month and so on and discover the magic of compound interest!

Q:

How much would you have to earn in a day if you wanted enough money to pay half the price of your house in a year? (If the house costs 20,000)

Chan, age 18

A:

     The math just keeps coming! Let's see, 365 days in a year, so divide 10,000 by 365 and you get $27.40 a day. I'm going to assume you don't want to work weekends, so let's instead divide by 260, the number of "working" days in a year, and we get $38.46 you have to earn each day.

Q:

If I saved $10 a week, how long would it take me to save $1000?

Darin, age 12

A:

     A little under 2 years, Darin, figuring $10 times 52 weeks in a year, giving us $520. Add on another 50 weeks to get $1000

Q:

How many years do you get to answer the questions?

Coby, age 16

A:

     As long as I want to, if you guys keep asking good questions!

Q:

Is money everything?

Evergreen student, age 14

A:

     Nope, not at all. Money's just a tool, just like a hammer. Your life should be filled with friends, family and stuff that keeps you stoked!

Q:

I want a car and my parents said they would not buy me one and my boyfriend is to poor so how am I posta get a car

Becky, age 16

A:

     Becky, becky, becky. Your boyfriend shouldn't have to buy you a car! Is dating getting expensive or what! We are awesomely living in the great USA and that means that everyone is free to go after what they want. If that means a car in your case, then get a job, work hard and buy that car! Good Luck!

Q:

So if I start an account when i am 12 and have 25 dollars in it i earn 2.2% interest and I don't withdraw any money until I am 25 how much will i have in my account?

Sierra, age 13

A:

     Whoo, a toughy! Okay, I'm going to show YOU how to figure it out. You're 12, so it's 13 years until you're 25, that's 156 months. Multiply $25 by 0.022 (2.2%) and you get 55 cents for your first month, and add that to your $25, which gives us $25.55. Now, take that $25.55 and times it by 0.022 to get 56 cents (roughly). Add that to your $25.55 and we get $26.11. Get the idea? Now, do that 154 more times to get your final number, and believe me, after a while it'll start to get big fast!!

Q:

I'm almost 16 so I will be driving so I want a car but I cant get a job. Most places require you to be 16 or up so do you have any ideas where I can get a job or money to save for a car?

Marci, age 15

A:

     Marci, some places can let you work if you're 15 and a half or even 15, so it pays to poke around and see what's out there. Ask your parents to help. They should be happy to help because you having a job means that you can pay for at least part of your car insurance, which I'm sure they'll like!

Q:

What is the largest money bill?

David, age 13

A:

     Okay, there's a two-part answer to this one, David. The largest bill in public circulation is the $100 bill. There are bigger bills that banks used to use to transfer money between themselves and other banks, and the largest of those was a $100,000 bill that was only made for a short time back in 1934!

Did You Know?

The $100,000 Bill has President Woodrow Wilson's picture on it!