As the title said, I’m 15 years old and have AU$1400 saved up. I no longer have a job and am working on a small business of mine, which has just $300 in revenue in the last few months.
The reason I’m here is because I’m not sure if I should invest in some compounding assets or something else, and if I should educate myself on stocks/dividends before making a decision?
I have read finance books such as Rich Dad Poor Dad, the Warren Buffett Way, and others, so I do know a lot about finance/business considering my age.
I previously had a job as a dishwasher for AU$16 per hour, and so I got $1700 from that after working for 5 months.
If I should ask this on a different r/, please direct me there so I can figure out what I should do :)
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Get into flipping stuff like furnitures
I would but I don’t know anywhere i could store the furniture or other things I could flip since my house doesn’t have spare room.
Try to invest it in business courses from people who have actual businesses instead of random university courses. Mentor ships are also good, try to find people killing it in your business and ask if they do mentorship and if they say yes then you have enough saved up and you’re good to go!
That’s awesome to hear man.
Are you comfortable to tell about what business you are doing?
Buy a lawn mower and mow lawns.
Could you tell us more about your small business that had $300 in revenue?
I sell gaming keyrings based on a game I play called ‘rocket league’. I am also about to sell 3D printed one-hand book-holders. Once I come across more ideas I’ll have more reach marketing-wise to increase revenue. I have also made custom prints for some people which contributed to the $300 in revenue.
I remember being 15 just a few years ago making posts just like this. Honestly if I could go back and tell myself what I know now, I’d tell myself to spend at least a year just full focus studying all aspects of business before actually trying to start a business. Maybe even two years. You’ll save yourself a lot of time, effort and money doing that.
Stay out of the stocks tbh focus and pour everything you have in the business and just see where it goes
Keep working on that business. And brainstorm on some more.