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My youngest seems to have picked up everything ever said about money. He got his checking account so he can see everything online and the bank itself is across the street so he's been doing his own banking for a few years. His savings is at ING.

Today he was trying to figure out what money was where. He wrote a check to get a Roth IRA started and that didn't seem to be showing up yet. I explained that it probably wouldn't clear until this week. I had to go in this week and sign as custodian since they noticed he was only 17.

So we started talking about how much money he has and what money he needs for what. I suggested a number he might want to have for personal expenses each month. He thought it was high. I suggested he discuss it with his sister since she's out of college and both he and I thought his brother was on the low end of the spending curve. He's been laddering CDs at ING - some of them slated for the monthly expenses.

Then we talked a bit about book expenses. Since it's the beginning of December and he has some extra money, I suggested a a 1 yr CD for second semester books next year. He thought that was a good idea so now he has one called "Frosh 2nd semester books." He may well manage another one this month - a 2yr CD to be called "Soph 2nd semester books."

He's also concerned about setting up money when he's done college so eventually there will be CDs for that. (I think he's gunning to have all his money for college ASAP and as long as he has a job, he should make good progress.) He says he want to live in a city and not have a car as long as possible so he'll eventually have the $500 insurance CD money after college. He knows he'll need money for rent and security deposits as well as utility deposits. He has a pretty good number to shoot for.

Now this kid is not going to be profiled in any articles that are noted on boards at TMF. There's not going to be any outcry about him. Really too bad because he is a teenager and he has it together.


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