Compound interest is a powerful concept when applied correctly. The earlier you start saving, the more free money you earn after a period of time. While it can be tempting to borrow from the interest if you’re in a financial bind, the payoff is much greater in the end. It’s like the old saying goes, “Good things come to those who wait.”
One of the best ways to “see” the power of compound interest at work is through a visual illustration. It’s a Money Thing TM provides a wonderful infographic with 3 Strategies and Takeaways on how to make the most of compound interest.
Check it out:
This is a quick reference sheet that you can bookmark or print off to review from time to time.
For more information on compound interest and other ways to save, visit our website here":/articles/it-pays-to-start-saving-now.
Which strategy in the infographic stood out the most to you and why?