Savings I challenge you to Save bonds rates

$ 52.73. This is what small change, my husband and I won last year in an old bottle, savings bonds rates, 5 gallons of water. It may not seem like much to you, but it was enough to see, where to put it: purchase of shares? Thrift store? Dinner for two?

If we had bought one ordinary share of Walmart ($ 49.44), we had a couple of bucks to see the actions are to be resurrected.

If we use the money in a savings bonds rates account, we made a whopping $ 0.43 for the investment.

If we went to dinner, we were both still full, but empty-handed.

I used to think that the rescue was difficult, but the power of compound interest has changed my mind.

Two factors always with compound interest, time and speed. Your speed will tell you how much time and tells you how long. Put savings bonds rates both together with your original principal amount and will be of some interest to make the interest that will make it more interesting … get it? It ‘a snowball Effect, but does not work if you do not work. You can savings bonds rates, not have the money for the shoes savings bonds rates a thing of the past or do not provide that sale again for another 6 months. It only works if you allow it snowball.

Here’s an example:

Just look at the numbers grow.

Year 1:

$ 100 x 10% = $ 10 interest. Running Total: $ savings bonds rates 100 + $ 10 = $ 110

Year 2:

$ 110 x 10% = $ 11 interest. Running Total: $ 110 + $ 11 = $ 121

Year 3:

$ 121 x 10% = $ 12.10 interest. Running Total: $ 121 + $ 12.10 = $ 133.10

Year 4:

$ 133.10 x 10% = $ 13.31 interest. Running Total: $ 133.10 + $ 13.31 = $ 146.41

Year 5:

$ 146.41 x 10% = $ 14.64 interest. Running Total: $ 146.41 + $ 14.64 = $ 161.05

Year 6:

$ 161.05 x 10% = $ savings bonds rates 16.11 interest. Running Total: $ 161.05 + $ 16.11 = $ 177.16

Year 7:

$ 177.16 x 10% = $ 17.72 interest. Running Total: $ 177.16 + $ 17.72 = $ 194.88

Year 8:

$ 194.88 x 10% = $ 19.49 interest. Interim results: 194.88 $ + 19.49 $ = $ 214.47

It would be at least 8 years to double your money. Of course, this is no additional deposits or increase speed. The easiest way to understand how long it would take to double your money is the rule of 72. Divide 72 by the frequency and the result is the number of years your money will be doubled. For example, 72 of 10 (10% interest) divided by 7.2 = years to double your money.

way to invest another $ 50:

Account Opening or, there are many stocks for less than $ 50 and some even pay

Open A 529 savings plan for your school education for children, most only require $ 25 to start, and is tax deductible

-Use extra money to pay off credit savings bonds rates card debt, the more you pay now, pay less interest you later

-Buy a Savings Bond, is exempt from state and local taxes

-Store in a savings account that compounds daily and monthly

What You decide to do with your pennies, it’s just for you, but do not wait.

Do not get in the habit of thinking these thoughts:

I do not have enough money to invest

I wait to start until my next test.

I have too many bills

I’m too old to invest

I know nothing of investments

It seems too complicated.

I have no time.

All these are just excuses, there’s never a time when not to invest. Start now, start today and build your future. Start by having your lunch, Starbucks past or passing on the Mall this week.

Do not complain that they do not have enough, or you will never be. I believe that you are financially independent. I challenge and dare I save it to the savings bonds rates, nearest dollar.

Do not wait until next time, you can not wait for the next time you are.

Rhonda L. Nails is the founder of developments Monarch, LLC. She is also savings bonds rates author of the bi-weekly newsletter, the monarch’s message that empower individuals to get smart and savy written about money.

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By: Rhonda Nails
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