Her parents wanted her to attend a public one. She took money out of her savings account and invested in two mutual funds. Pepsico Inc. A few weeks ago, Behrens was accepted at Eureka College, a private liberal arts school in Eureka, Ill., where she plans to major in communications and theater. She will use her prize money and other savings to pay for tuition and fees. This immediate gratification may be enjoyable for a month or so, but 15 years down the road, the person will realize their mistake when those shoes no longer fit and more pressing needs loom.
Few teens are aware of the benefits of early investing.
When you invest, over a period of time magic happens in your account and your money increases. This magic is called compounding interest.