Even if you see yourself as a spender rather than a saver, you probably have some need to save.
The first question to decide about saving is: "How much should I save?" Obviously, the answer to that question is personal and unique to you and your circumstances. Think about what kinds of things you'd like to save for, when you want to purchase them, and how much you think it will cost. Remember that inflation will raise the price of these items over the course of a year.
The Interesting Thing About Interest
Most people know that earned interest is the amount of payment you receive for allowing a financial institution or company to use your money.
What many people don't realize, however, is how important a part interest can play in helping you achieve your financial goals.
Study the chart below carefully to understand the power of compounding. Compound
interest is the term used for interest you earn on previously earned interest.