3.1.6 How to save

Once you've decided that you want to save, how do you go about it? Keep these tips in mind:

See the video Why you should save and how, for more tips on saving.

Compound interest

An important key to growing your savings is the amount of interest (or other income) you can earn with it. Interest is money a financial institution pays you when you deposit your money. Usually, you receive compound interest—that is, the institution pays interest on the interest they have already paid you. This helps your savings grow even faster.

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