Compound interest refers to reinvesting the money you earned from your initial investment. The interest you earn each year is added to your original balance, which you then continue to earn interest on. Your balance grows at an increasing rate. The following example will show you exactly what kind of effect compound interest can have on your money: Would you rather have $10,000 every day for a month or a penny that doubles every day for a month? Most people will laugh at the idea of taking the doubling penny, but it turns out that this option earns you more than 15 times what the $10,000 does.
Infographic: How Much Does Free Business Checking Cost?
This infographic provided by FitSmallBusiness.com compares free business checking accounts from three major banks: Bank of America, Wells Fargo, and Citibank. They also explain some general tips to keep in mind when choosing a business checking account.
The kids who are between 5 and 12 have to be learned how to manage finances and this can be done in the form of different games. Learn how to help your kid start her/his very first own business and many other ways to teach it how to be responsible with her/his money. In this very useful infographic by FatWallet.com you will find all you need to succeed with this task.Read More
If you pay a rent every month you can`t afford so many things. For example, if you live in Chicago, you will pay monthly rent of around $2000, that means that you just lost 14 lobster dinners or 19 tickets to Disneyland. For 5 years rent in Seattle you can buy a Tesla Roadster car. Find out about other US cities and what you could have if you don`t have to pay rent in this amazing infographic by ForRent.com.Read More
Do you know that the children develop their money habits really early, before their 7th birthday? As a parent you have to make sure to teach you kids how to handle their money. If you don`t know how to do it, take a look at this amazing infographic by FatWallet.comRead More
Let’s be honest, solar isn’t for everyone. For some people it’s too high of an initial investment to realize the long-term benefits, while for others it just makes too much sense to enjoy energy independence while saving money and the environment. Everyone has their reasons, so we put together an infographic showing the top four reasons why people install solar panels and the top four reasons they don’t.Read More