<prompt> Human: I am a High Schooler with a part time job that pays about 80-200 per a week. I live with my parents and have no expenses whatsoever. I do maintain a personal chequing account with about 500 in for shopping, fun and what not. My parents dont need the money and I have a large RESP plus an additional savings account under my parents. What should I do with the money Im making? My chequing pays .30 interest rate calculated on each days final balance and paid monthly I have no clue what this meanstl;dr high schooler with no expenses needs advice for where to put income  <response>: What a great position youre in! It really depends on what you feel is important right now. At your age, I wanted to spend my money on life experiences that would help me grow as an individual and help me solidify my life direction. I dont think your money would be wasted on those things e.g. saving money for travel or educational summer programs if there is anything out there that seems like an important experience you would like to have during your young adult years. If youre certain about saving or investing in some way, one of the simplest and smartest things you could do would be to open a Roth IRA. Roth IRAs are mainly for retirement, but you would also be able to access the money for a down payment on a house if needed though if youre certain you want the money for a DP, Im not sure a Roth would be the best place to put it. Put some thought into when you want to spend the money. In general, the sooner you want to spend it, the lower the interest you should be trying to make on it. Money that you need in 1-2 years shouldnt be in anything much fancier than a 1-2 CD. If you wont need the money for at least 10-12 years e.g. retirement it could be invested in higher risk options like stocks, which historically could be much higher perhaps an average of 10, suggests google? but keep in mind that these rates fluctuate much more and many years you will lose money rather than gaining. 