Why Save?

by astanhaus

Save? I was too busy spending my way to success. My fabulous outfits made me look like I should be running my company. Instead, I get the coffee.

(click on the bold-faced vocab words:))

I’ll be waiting approximately forever to earn the $$ that matches my outfits and pays off my closet’s credit card debt.

Forever is very expensive in debt-land.

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Play with this compound interest calculator to see how $$ multiplied over and over again by an interest rate means more $$$$$$.

Compound interest goes both ways. Debt & savings grow exponentially.

I’m hoping my saving account’s compound interest payments will pave the way to my own compound (à la the Kennedy’s).

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(Originally published on Amanda Stanhaus’s financial literacy blog: XO, Bettie.)

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