Just think of all the things you could do with that extra $300 or $400 or $500 a month that you will save on interest. STOP! Don’t think about “all” the things you can do with the money you save on interest. Think about just ONE thing you can do...
Debt is a huge problem as a ton of people are wrestling with consumer debt. These consumer debt levels are high currently for a variety of reasons.
Compound interest is really a math concept that shows the power of making interest on not just your principle but also interest.
You might be missing out on better rates or better customer service at another bank. It might be time to break up with you bank.
A lot of people are now setting up CD ladders as a way to get higher interest on their savings, while still maintaining some liquidity.
Interest — paying someone else for the privilege of borrowing money — might be the most obvious cost associated with debt, there are other costs.
If you want your child to grow up to make better decisions — earning interest rather than paying it — this is a concept that needs to be addressed.
Credit card interest seems like Exhibit A when it comes to decrying interest. However, interest isn’t all bad. In fact, interest can be your friend. The key is to earn it, rather than pay it.
If you are earning simple interest, you only receive interest based on your principal. However, if you are earning compound interest, the interest earnings you receive periodically are added to your principal – and you earn interest on the whole.
Many people don’t realize that one of the things to know about CDs is that you are required to pay taxes on the interest. Even if you didn’t actually receive a check in the mail for the interest amount.
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1 year 13 weeks ago
1 year 13 weeks ago