Savers know that the eighth wonder of the world is compound interest.
If you put $1,000 in a savings vehicle that earns 8 percent interest, you will double your money in less than 10 years. In this example, a penny saved is two pennies earned.
Use this simple savings calculator to see how investing your refund can make it grow over time.
Did you know that Libras expect the largest refunds?
How do I know? Well, I’m a real refund know-it-all! In fact, when it comes to spending and saving, there isn’t much I don’t know.
Don’t believe me? I’ll prove it! Let’s play ‘Save Or Spend?’
The average tax refund is more than $2,000—and that’s a lot of money.
Will you spend? Should you save?
Do you owe?