Paying off your debt is important. Having a solid budget is important too. However, if you don’t invest a part of your money, you will always be chasing your tail to manage your budget and pay off those debts. Why? Because investments have the capacity to grow much faster than your debt repayment schedule or your savings ability. Why is that? Call it the power of compounding interest!
I’ll actually discuss the power of compounding interest in another article as this is a little bit more complex to explain. However, just keep in mind that your investments have the ability to grow much faster than anything else you can own when it comes to personal finance. This is why it is so important to start investing at a early age.
Posted via web from Firesaw
No comments:
Post a Comment