Why save and invest? Many people experience financial hardships
             because they never learned the facts on saving and investing. People do
             not realize how crucial it is to understand the importance of planning for
             their financial future. The key to understanding is to introduce the basics of
             saving and investing when teenagers are in their prime.
             The best way to achieve your financial success is to plan for whether
             you would like to: buy a car, pay off school loans, or to purchase a home.
             The best time to learn about money is when you are young because
             starting young lets you take advantage of the magic of compound interest.
             Compound interest is the interest you earn on interest. The principal of
             interest is easy, if you have $100.00 and it earns 5% interest each year,
             you will have $105.00 at the end of the first year. By the end of the second
             year, you will have earned $110.25. Not only did you earn $5.00 on the
             $100.00 you deposited but you also earned an extra $0.25 on the $5.00
             interest. I've learned that in ten years, I will have earned $152.50 and in
             twenty-five years, I will have earned $283.75. Thanks all to the thing
             called compound interest, your money just adds up over time, without you
             even adding another penny to your account.
             One habit that the Armchair Millionaire recommends is to "pay
             yourself first." If you get into the habit of allowing your bank to
             automatically remove money from their paycheck and have it deposited
             into a savings or investing account, either an IRA, KEOGH, or 401(K).
             There are different ways to save and invest, such as there are
             reasons for saving and investing. Many people save and invest in
             passbook accounts, also known as savings accounts. If you save your
             money in a passbook account, a bank or credit union will pay yo
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