Save Now Not Later

When should one start saving?

Check out the follwoing examples to find out:
Scenario 1
Ali, 20 years old, saves $100 per month @ 5% p.a.
At 40 years old, Ali would have contributed $24,000, and earned an interest of $17,275

Total Savings = $24,000 + $17,275 = $41,275

Scenario 2
Billy, 30 years old, saves $200 per month @ 5% p.a.
At 40 years old, Billy would have also contributed $24,000, but only earned an interest of $7,186

Total Savings = $24,000 + $7,186 = $31,186

By delaying your saving plans, the same amount contributed would result in significantly lower returns!

Lesson of the day get a higher yield of return for your money. Let your money works harder for you.