You might have heard people use the term compound interest, but if you can’t answer the question “What is compound interest?” then you’re missing out on how compound interest affects your finances.

Compound interest is a powerful force for consumers looking to build their savings. It creates a multiplier effect on your money that can help it grow more over time. Knowing how it works and how ...

Interest can be charged when you borrow money or earned when you save. When you charge something on a credit card or take out a loan from a financial institution (student loan, auto loan, mortgage, ...