Saving on a regular basis can make a big difference in your
future finances. And the earlier you start saving, the better.
For example, say you start saving once you have your first job at
age 22. If you put $100 a month in a savings account that earns a
modest 6% interest rate, you'll have over $100,000 at age 55!
That growth is due to the "miracle" of compound interest. This works
by your reinvesting the interest you earn on your savings as soon as
you receive it - to earn interest on the interest! Use the
calculator below to see for yourself how your money can grow.
Enter different amounts, rates and time in the first 4 sections of
the calculator to see what a difference these changes can make.
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