Wednesday, April 28, 2010

Financial Literacy... Interest rates and our money

Most of the times, we are somehow familiar about basic financial news particularly when our money is involved; if we are careful, we could afford to save after reviewing our family budget, get more information as to the interest we would like to earn hoping to see our money grow, choose the most suitable alternative based on our particularly needs, however... Do we really know how an interest rate works when we are able to save part of our money?

Do we know how an interest rate makes our money grow under the concept Compound Interest?

We are celebrating April as the Financial Literacy Month; this is a good time to share what Mrs. Karyn Hodgens, a fellow Linkedin member and very committed financial advocate has prepared in terms of explaining us -a magnificent job- how an interest rate can make our money grow.

How about we try to make things a bit easier in order to emphasize -regardless of financial math calculations- how practical is making compound interest calculations by using a financial calculator and Microsoft Excel. The election is yours...

Let's watch Mrs. Hodgens explaining us how this "magical" thing really works... it's NOT difficult.

Have a comment? Feel free to share with us!

Financial Culture / Cultura Financiera ©

Bookmark and Share

No comments: