If You Want An IPhone 8, You Should Probably Start Saving Your Money Now

Compound interest is an extremely powerful force that allows you to earn exponentially larger gains on your money over time — so the money you save now is worth a lot more than the money you save later. Here’s a simple example: You invest $1,000 today and earn an annual 5% gain, so $50. That $50 is added to the principal amount of your investment, and then next year, you earn a 5% gain on $1,050, so you earn $102.50. And so on… So, the earlier you start saving, the more your money will grow over time!

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Source : http://www.ajc.com/business/personal-finance/saving-101-why-you-should-save-and-how-get-started/c5Ywg3UyUbtxgTvnOX8ghJ/

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