Our listener Maddie sent in a question:
"Thanks so much for your podcast, am learning a lot already
I don’t really understand how interest works – can you please explain what it is and how it works?”
In explaining the cost of credit card interest in this episode we mention 2 online interest calculators:
We encourage you to click the link and plug in some of your own numbers - maybe from your credit card statement.
Credit card calculator:
https://moneysmart.gov.au/credit-cards/credit-card-calculator
Compound interest calculator:
https://moneysmart.gov.au/budgeting/compound-interest-calculator
We love the "magic of compound interest" - it's not really magic, it's pure maths! and it absolutely works! Check out the Compound interest calculator ...
It its never too late to start building wealth with compound interest
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If you have any questions or suggestions please email us at:
midlifemoneyquestions@gmail.com
We need to make it clear that we do NOT provide specific financial advice on this show, it is just general advice and discussion. If you want advice specific to your situation you need to go and see a financial adviser or financial professional.
