My grandad gave me £215, what to do with it?

When I was born, my grandad put me £215 pounds into my account. He died 4 weeks ago. So my dad is taking me over to the bank so I can sign for it (otherwise they might think my dad is stealing it if he goes alone). So basically, I have a couple of ideas...

of what to use it for. I've been after an iPod, or a new phone. My parents say don't blow it on stuff like that but its MY money... They think I should put it towards my University funds. But I'm only 13, I have plenty of time for that. I want to just spend it on what I like, but my parents won't let me! I hate it... What do you think is the right thing to do? And how can I ease my parents minds to let me buy whatever I like with it- because its my money?

Cheers guys

it might not seem like much but your parents are just trying to teach you an important lesson of life. how not to blow and waste your money. yes, it is your money. do with it what you want. want to buy something? maybe get something you want but not expensive. save the rest. let it build interest. then tell your parents what you did. I spent some of the money but I saved the rest. it might make them happy. oh yeah. keep adding to it. you'll see why in 5 years if you do.

it is your money and you can do whatever you want with it but you must remember it is not your parents responsibility to put you through college, you may have to pay your own way.

Ya it is your money and you can spend it on what you want. Go ahead, buy an ipod if you want.

But I wouldn't.

If you want something to listen to music with get an mp3 player, there are lots out there that are MUCH better and MUCH cheaper than an ipod.

The rest should be put into your bank for university. I don't know about where you live but in Canada university's aren't very expensive compared to other countries like USA, I've been saving up for about 3 years now from work and I've only payed off a year and a half of university. It's a lot of money and don't expect your parents to save it all for you.

I'm sorry, I know you probably didn't want to hear that :\

How much would that be in American $ ?

oilfieldman78:

in dollars, thats about $430 I think?