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Put money in bank or be an entrepreneur?

I have $800 in a bank account. I am a 15 year old drum set players. My options right now are to put the $800 in some bank thing that will make me barely anything a year OR I could take out the $800 in cash and buy drum sets off of craigslist's, refurnish, then sell for more. I am having trouble deciding which to do. I am confident ion my ability to make money off of the drum sets, however if I make one bad sale or one mistake during a refurnishing job, I could lose it all just like that. However, because this option is more risky, it is also MUCH more rewarding. I recently purchased a drum set for 400 than I am now selling for 600 and I have several potential buyers looking into it. Any suggestions on what to do?

5 Answers

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  • 10 years ago
    Favorite Answer

    Be an entrepreneur and put your idea to the test. Even if you lose everything, at the end of the day it's only $800 and since you're super young, you have a lifetime to earn more money to try again.

  • Anonymous
    10 years ago

    Be an entrepreneur and put your idea to the test. Even if you lose everything, at the end of the day it's only $800 and since you're super young, you have a lifetime to earn more money to try again.

  • 10 years ago

    If you think that the feasibility of selling them is easy than without hesitation you can invest them in the drums business, but if you think that is going to be a tough nut to crack. My advice to you is to spend partially on your business and save the rest.

  • Anonymous
    10 years ago

    I'd take your $800 and buy toothpaste, shampoo, etc....from the dollar store. Its your best bet to make money off inflation.

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  • 10 years ago

    Invest your business

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