Helping you to live a life of purpose on purpose

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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