Savings

Hi my name is Julia and I would like to share with you what I've learned about saving money. In the savings module on Everfi.com, I learned about the power of interest, and how a few smart financial habits can help you reach your savings goals.

One thing I learned about savings is that the more time you give yourself, the easier it is to save up. When you have a certain goal in only a short amount of time, you’ll have to put aside a lot of money and have less for spending. However, if you have a long period of time, you’ll have to put aside less money and not worry as much about spending.

Another good idea for better ways to save money is by putting your money in a bank and earning interest. When going to a bank, try looking for a plan that has the high interest rate in a short period of time. Interest is money paid regularly at a particular rate. The bank pays you interest because it lends your money out to people, so in return, they pay you small amounts of money. But don’t worry, your money is safe and protected and will always be there when you need it.

There are many other great ways to save up!