|Saving on a regular basis can make a big difference in your financial stability. And the earlier you start saving, the
For example, say you start saving $125 a month at age 22. If you put $125 a month in a savings account that earns a 2% interest
rate, you'll have over $56,000 by the time you are 50!
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.