Have your parents sign up for a Coinbase account, and buy $350 worth of Bitcoins, which is about 0.68 BTC.

Sit on this for awhile.  Stick around Bitcointalk for awhile, and stay active in the forums.  Once you're Jr or Member status, join a sig campaign, and keep posting to earn more BTC.  Keep on grinding and keep on banking coins.  Don't ever spend it.

Whatever you do, do not start mining.  $350 will never get you close to ROI on any equipment you buy.