Time and Interest Rates

For most people that I talk with about finance, especially interest, they start to have the deer in the headlights look almost with the second word. It is not that they cannot understand but do not want too.

When it comes to interest, they as you have indicated you just simply take the interest times the amount borrowed. This is fine as long as there is no time.

Time is the key here. It is what makes your money work for you or against you. But in the instant gratification world, time is ignored.

MrsMicah tries to explain it all.

Just my 2 cents. Jim @ ChangeJarSavings.com