Generally speaking, saving a little money on a regular basis when you are young can result in a large final payoff.

Question

Quizplus · Accepted Answer

This is because of the power of compound interest. When you save and invest your money, it earns interest or other returns. Over time, the interest you earn also earns interest, resulting in your money growing faster and faster. Starting to save and invest early allows more time for compound interest to work its magic, resulting in a larger final payout.

Generally Speaking, Saving a Little Money on a Regular Basis