Saving & Earning Interest
How saving works – it's all about interest
Most of the time, you have to work to get money. But you may not know that your money can work for you – everyday. That's a good deal! It's all about interest.
Banks will PAY YOU interest on money you deposit with them. Why should they do that? Because they want to use your money to make loans to other people. Learn more about how banks work.
There are two kinds of interest
When the amount of money you have deposited in the bank – or in an investment – gets larger, compounding gives you spectacular results. See for yourself and let the Compounding Calculator do its magic.
Watch interest grow
With the power of interest behind you, you can double your money. Want to know when? Use the Power of 72 and find out!
Keep a money diary that tracks what you save and spend. It will tell you about when, why, and how you use money.