Understanding the Basics of Personal Finance: Compound Interest
Learn the basics of compound interest.
Personal finance is important. Starting a smart personal finance plan as soon as possible can mean the difference between retiring early, sending your kids to their dream schools and more. But, before you can save big bucks, you need to know the basics of personal finance. In this video, Entrepreneur Network partner Phil Town helps you by explaining how compound interest -- one of the most important aspects of personal finance -- works.
When interest is compounded, rather than paid linearly, the overall size of the investment grows exponentially faster. The effects are harder to see in the early years, but eventually, they become quite pronounced.
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