Growing

What’s the first thing you think of when it comes to money? Are your thoughts more positive or negative? Whatever’s natural to you can speak to your money mindset. 1 And that money mindset can shape your financial views and habits. It can also reveal more about your values and beliefs, not just about finance but about life in general. 1 With that, understanding your money mindset can start to highlight where it may be...

4 Pervasive Myths About Inflation Inflation can feel inescapable these days. For most of us, it also feels like inflation is higher and more persistent than it actually is. 1 That could be because we’re seeing higher prices practically everywhere. 1 Despite our experience, though, that misperception can actually harm us. It can also be bad for inflation in general. 1 That’s because thinking inflation is worse than it is can stoke our fears of...

It is often reported that Einstein may have referred to compound interest as “the most powerful force in the universe” and “the eighth wonder of the world.” And who can argue with him? Compound interest is interest earned on interest, or in other words adding interest to principal and earning a return on the new sum. Contrast this to simple interest, in which interest is only earned on the principal amount. When harnessed properly, compound...