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Please explain Compound Interest

In this Video Blog Series Phil is answering questions that have been submitted by readers.

Today’s request is “Please explain compound interest.”

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Phil shares five thoughts that will help you with this.

  • Compound interest is when your investments earn interest on top of your interest.
  • A simple example – investment.
  • Also works (against you) on your debt; mortgage, credit card, loans.
  • A simple example – debt.
  • Compound interest is fantastic when you are earning it, but deadly when you are paying it.

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For those of you with a mortgage, you will want to learn more about how your mortgage works so you can be mortgage free sooner. Get your free DVD by clicking below:

How To Make Sure You Don’t End Up With A 50 Year Mortgage

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You can submit your own question by replying to this blog, or by registering for your free gift from Phil at http://philstrong.com/freegift/

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October 2nd, 2009 | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Category: Financial Literacy, Mortgages, VIDEO | 26 comments

26 comments to Please explain Compound Interest

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