Compound Interest

Hey everyone! :grinning:

There’s a new post on the blog about compound interest, mostly what it is, and why it can be so important :bar_chart:

https://emma-app.com/blog/2020/07/20/compound-interest/

Is compound interest something you take note of?

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I take note of it, but never day to day / month to month. I just take a look and know it’s similar to my investment view… long term goal for the better gains, generally speaking.

The earlier you can get your money into savings, the longer it will have to compound.

That’s good to know!

I guess if I had an account with a really good rate I might look at it more often?

Do you think anyone would ever include compound interest in any of their budget forecasting?

They may do but personally I prefer the surprise of compounding vs the expectation.

I think if you were saying it’s a future feature, yes, everyone would love it :wink:

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Haha I can’t promise anything! :wink: But it is interesting to hear what other people think about these things!

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For anyone after a deeper look at the maths, the Khan Academy is a good place to start, though it’s got a US focus.

https://www.khanacademy.org/economics-finance-domain/core-finance/interest-tutorial

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That’s a great resource - thanks for sharing! :+1: