What are the most commonly overlooked basics when it comes to personal finance, especially amongst the younger, college-age crowd? ~Alexa C.
This is, without a doubt, the best question we have received to-date. In order to give a thoughtful response, we shall make an appeal to one of the most thoughtful minds in modern history:
Compound interest is the eighth wonder of the world. He who understands it, earns it… he who doesn’t… pays it. ~Albert Einstein
Albert E. said it first, and we concur. The most overlooked basics in personal finance boil down to compound interest. In Dr. Einstein’s own words, understanding this “most powerful force in the universe” can super-charge one’s financial life or suppress it. Perhaps we should take a closer look — join us as we seek to Understand the Force.