How to get Approved for Affiliate Marketing Programs

This post may contain affiliate links please read our disclosure for more info. This video was first published on my YouTube channel; you can subscribe to my channel here http://bit.ly/1BuKsoM .

Affiliate Marketing

I have written about Affiliate Marketing on this site five times, some of the posts are linked below this one. Please click through to read them if you haven’t already. In this video, I discuss a crucial stage that will set you up for affiliate marketing success. I am referring to the ability to successfully navigate the affiliate marketing program application process.

Once you understand what the Affiliate Marketing Program Managers are looking for, it will be easier for you to successfully apply for programs and boost your potential earnings.

Remember to take a qualitative approach, only apply for appropriate affiliate marketing programs so that you can remain focused and do not spread yourself too thinly.

Next Steps

Have you been rejected for affiliate marketing programs? Do you now have a better understanding of the process?  Let me know in the comments section below.

Also, get in touch if you would like my help. My email address is mike@learnmoney.io

 

Grammarly Writing Support

If you have enjoyed this post you will also like the following posts:

Are you Missing out on Compound Interest? 

How to Make Money Selling Your Hair 

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Making Sense of Affiliate Marketing Course – Review

Respondent.io Review

How to Monetize Twitter with Affiliate Marketing

Top 3 High Paying Affiliate Programs

What to do if you are Made Redundant: 5 Steps

Credit Cards: How to Make Balance Transfers Work For You

What’s the Best Strategy for Clearing Debts?

Investments: Why Saving is Not Enough 

My aim with each blog post is to help you move to a better financial future. I believe that there is not enough financial education in the national curriculum and I intend to share anything helpful that I have learned along the way. I am by no means a financial expert. None of the information on this website constitutes financial advice and is provided as general information only.  This is my personal finance blog; my marketing blog is over here and I have been blogging there since 2010. I hope you have found this information useful. Thank you for reading.

Best regards,

Mike

 How-to-get-Approved-for-Affiliate-Marketing-Programs

Is Forex Trading Hard to do?

This post may contain affiliate links please read our disclosure for more info.

What is Forex Trading?

If you have travelled abroad on holiday or a business trip you may have needed to buy some foreign currency to use at your destination. More than likely you will have used your home currency to buy currency for your destination country. Foreign Currency exchange or Forex trading as it is more commonly known is based on this buying and selling of currency pairs, the currency pair being the two currencies that you wish to exchange. Through the buying and selling of currencies at opportune moments it is possible to make a profit. Fundamentally Forex trading is quite easy to understand but that does not mean it’s easy to do profitably.

If you want to start Forex trading the first step would be to find a reputable broker. This article lists the top 25 Forex brokers in the UK ranked by their trust score.

Is Forex Trading Hard?

The majority of Forex traders are not making a profit and this is because of a number of reasons including; a lack of understanding of the complexities of international currency markets, a reluctance to exit a bad trade in the hope that it turns around, poor risk assessment and management, allowing greed to take over and emotionally driven trading. If you are to avoid becoming another failed Forex trader, I recommend the following steps:

*Start trading with a practice account before using any real money.

*Keep a record of all yout trades as you build up your experience.

*Understand the importance of setting up stop loss orders and apply them to your trading procedures.

*When you start, pick currency pairs that are familiar to you.

Create a daily routine that is conducive to good trading practices, sleep, exercise and nutritious food are likely to lead to better trading decisions.

In answer to the question in this post’s title, Forex trading is not hard to do but it is hard to do well. Beware of ‘Fake Gurus’ oversimplifying Forex or offering you a foolproof trading system because it is likely that they are only being successful by selling their ‘system’ rather actual trading success in currency markets.

Next Steps

Are you interested in Trading Forex ? Have you started already? Let me know in the comments section below. Also, get in touch if you would like my help. My email address is mike@learnmoney.io

Grammarly Writing Support

If you have enjoyed this post you will also like the following posts:

What is Ethical Investing? 

How to get Brand Deals as a Micro Influencer 

Are you Missing out on Compound Interest? 

Making Sense of Affiliate Marketing Course – Review

Respondent.io Review

Top 3 High Paying Affiliate Programs

What to do if you are Made Redundant: 5 Steps

Credit Cards: How to Make Balance Transfers Work For You

What’s the Best Strategy for Clearing Debts?

Investments: Why Saving is Not Enough 

My aim with each blog post is to help you move to a better financial future. I believe that there is not enough financial education in the national curriculum and I intend to share anything helpful that I have learned along the way. I am by no means a financial expert. None of the information on this website constitutes financial advice and is provided as general information only.  This is my personal finance blog; my marketing blog is over here and I have been blogging there since 2010. I hope you have found this information useful. Thank you for reading.

Best regards,

Mike

Image credit: pexels.com

 Is-Forex-Trading-Hard-to-do-pin

The Lifecycle of Love and Money

This post may contain affiliate links please read our disclosure for more info.

For this blog post, we’re going to discuss something almost everyone wants. It can bring great joy or great pain, but it can be awkward to talk about. We’re of course referring to… wait, is this post about love or money? Oh, both? Yeah, it’s both.

Money

Every couple is going to have a different financial journey, but there are some major milestones that most couples will encounter at some point. Here are some tips for when you’re dating, when you’re committed, and when you decide to tie the knot.

 

Dating

 

It’s fine to leave conversations about money until later, but if you decide you’re comfortable enough, you can open up a financial discussion as early as the first date. Who pays for dates is (somehow) still a hotly contested topic, according to the findings of a 2015 sociological study. *There’s no clear consensus regarding who should pay for what, and some people have complex feelings toward splitting the bill, so bringing up the subject can be a way to get a money chat rolling.

 

After you’ve spent some time with someone and you’re considering whether you want to be in a serious, long-term relationship with them, it’s a sensible idea to make sure you’re financially compatible first. A survey commissioned by Ally Bank found that when people were asked to name the biggest source of stress in their relationships and marriages, money was the most common answer.** Try to head off fights before they happen by checking if you and your partner have similar financial behaviors and goals. If you want to save for a vacation together while your better half wants to start investing in rare tropical fish, that could lead to an argument later.

 

Moving in Together

 

By cohabiting with your significant other, you’re taking the first major step toward building a financial life together. Now you’re relying on your partner to help pay for food and rent, which means their financial habits have a more direct impact on your wellbeing. Starting to think of your finances more as a duo while setting clear boundaries to make sure no one feels smothered can help keep both parties happy.

 

Unfortunately, the first step to co-planning your finances can be the hardest for a lot of people: divulging your financial history. That includes the accounts you have, your savings, and most importantly, your debts. One way you can ease into this is to make a budget together, which can act as a neutral conversation that puts you both on the same page. If you’re still anxious, psychological research suggests that honesty is an important part of building strong relationships,*** so sharing your financial situation with your partner may bring the two of you closer together.

 

You’ll also need to talk about how to split shared living expenses. Two main ways of doing this are to split things evenly or equitably. An even split means you and your partner divide costs 50-50. This may not really be fair if you and your significant other have vastly different incomes, but it can help both of you feel more equal since you’re paying the same amount, and it’s easy to figure out who should pay what.

 

An equitable split, though, means sharing costs according to each person’s ability to pay. This is arguably more fair than an even split, since you’re both paying an amount you can manage while still leaving money to cover personal expenses. However, it can potentially cause tension if the person paying more feels like their bigger contribution should give them a greater say in the relationship, and uses their economic advantage to push the other person around. Remember that you don’t have to commit 100% to an even or equitable split, so you and your partner can find a balance between these that works for you.

 

Marriage

 

Once you get married your partnership isn’t just recognized by your friends and family, but by the big G… that’s right, the government. The United States General Accounting Office has identified over 1,000 federal provisions in which marital status influences your legal benefits, rights, and privileges,**** and that’s not even getting into each state’s laws. If you have questions about how getting married will affect your rights (such as your property rights), the safest person to talk to is a qualified attorney.

 

Additionally, now’s the time to start thinking about how you want to organize financial accounts with your partner, if you haven’t already. In general, combining your money using joint accounts can make it easier to pay household expenses and save for mutual goals, but it also may reduce how independent you feel since you have less money to yourself. The exact method you choose is really up to what you and your partner are the most comfortable with. For example, you could keep your separate financial accounts active while opening a new joint bank account for shared expenses, adopting a “yours, mine, and ours” split. Or, you could consolidate all of your money into one person’s account and add the other person as an authorized user. It’s also still valid to keep your money completely separate.

 

At their core, all of these steps really boil down to communicating and compromising with your significant other. If you’re able to do that, you have an advantage in building a financially healthy and stable partnership.

 

This article originally appeared on Earnin and appears here at their request. 

Next Steps

If you’ve enjoyed this post you will also like Are you and your partner financially compatible?  Have you already established a joint budget with your partner? Let me know in the comments section below. Also, get in touch if you would like my help. My email address is mike@learnmoney.io

Grammarly Writing Support

If you have enjoyed this post you will also like the following posts:

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What to do if you are Made Redundant: 5 Steps

Credit Cards: How to Make Balance Transfers Work For You

What’s the Best Strategy for Clearing Debts?

Investments: Why Saving is Not Enough 

My aim with each blog post is to help you move to a better financial future. I believe that there is not enough financial education in the national curriculum and I intend to share anything helpful that I have learned along the way. I am by no means a financial expert. None of the information on this website constitutes financial advice and is provided as general information only.  This is my personal finance blog; my marketing blog is over here and I have been blogging there since 2010. I hope you have found this information useful. Thank you for reading.

Best regards,

Mike

 

Image credit: pexels.com

References:

*https://journals.sagepub.com/doi/full/10.1177/2158244015613107

**https://media.ally.com/2018-06-12-Money-Causes-the-Most-Stress-for-Couples-According-to-New-Ally-Survey

*** https://www.psychology.uwo.ca/pdfs/SONA/articles/13-campbell.pdf

*****https://www.gao.gov/new.items/d04353r.pdf

What are the Benefits of Cashback Credit Cards?

This post may contain affiliate links please read our disclosure for more info.

Regular readers of this website will remember this post that I wrote. 4 Credit Cards to Repair Your Credit Score  .If you are planning to use credit cards strategically, you first need to set your objective. If your objective is to earn cash rewards instead of improving your credit score your choice credit cards would be very different.

Why Use Cashback Credit Cards?

Earn Rewards

If you pay for mandatory expenditure using a cashback credit card you have an opportunity to earn rewards that would not be available to you if you simply used a debit card. If you use this approach, you must remember to pay of the credit card balance in full each month otherwise the interest that you will have to pay may negate the value of any rewards earned.

Sign Up Bonuses

Many cashback credit cards have new customer sign up bonuses and exclusive shopping offers. Providing that you are disciplined with your spending, these could be good opportunties. Imagine a scenario where you can earn tangible items that you could sell for cash.

Warning

“Know thyself.” – Socrates. If you do not have the financial discipline to use cashback credit cards and remember to clear the balances each month – do not go near them. You could end up creating problems for yourself.

What are the Best Cashback Credit Cards in the United States?

To review some of the best performing cashback credit cards in the United States click here and remember that past performance is no guarantee of future performance.

Next Steps

Are you interested in cashback credit cards ? Do you have one already? Let me know in the comments section below. Also, get in touch if you would like my help. My email address is mike@learnmoney.io

Grammarly Writing Support

If you have enjoyed this post you will also like the following posts:

What is Ethical Investing? 

How to get Brand Deals as a Micro Influencer 

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Making Sense of Affiliate Marketing Course – Review

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Top 3 High Paying Affiliate Programs

What to do if you are Made Redundant: 5 Steps

Credit Cards: How to Make Balance Transfers Work For You

What’s the Best Strategy for Clearing Debts?

Investments: Why Saving is Not Enough 

My aim with each blog post is to help you move to a better financial future. I believe that there is not enough financial education in the national curriculum and I intend to share anything helpful that I have learned along the way. I am by no means a financial expert. None of the information on this website constitutes financial advice and is provided as general information only.  This is my personal finance blog; my marketing blog is over here and I have been blogging there since 2010. I hope you have found this information useful. Thank you for reading.

Best regards,

Mike

Image credit: pexels.com

How to get Started with Index Fund Investing

This post may contain affiliate links please read our disclosure for more info.

Regular readers of this website will remember this post that I wrote, Investments: Why Saving is not Enough . You cannot simply save your way to financial freedom, if you are to be successful and achieve your financial goals, you will need to grow your finances exponentially. In today’s post I want to return to investment as a topic and discuss one particular type of investment namely Index Fund Investing.

What is an Index Fund?

An index fund is a type of mutual fund or exchange-traded fund (ETF) with a portfolio constructed to match or track the components of a financial market index, such as the Standard & Poor’s 500 Index (S&P 500) in the United States or the FTSE 100 in the United Kingdom.  

What are the Benefits of Index Fund Investing?

Lower Risk

If you were to invest directly in a company via stocks or shares your level of risk is quite high. The company’s fortunes could change for the worse and your investment could literally be worth nothing through no fault of your own. An index fund lowers your risk considerably by investing your money in the top performing companies in a particular financial market. If one company underperforms, they will drop out of the index and be replaced by another. Your investment is likely to benefit from the good performance of the best companies within the index.

Low Operating Costs

Compared to other investment vehicles, Index Funds have relatively low operating costs that manifest themselves in terms of fees for individual investors.

Investment Performance

The primary investment objective for an index fund is to match the risk and return of the market. When investing for the long term, the market will usually outperform any one single investment. This is why index fund investing is an excellent approach for retirement accounts.

How to Get Started with Index Funds

You can invest in an Index Fund via a brokerage account or directly via a mutual fund company.  If you are relatively new to investing, a visit to an independent financial adviser would be a sensible first step.

To review some of the best performing index funds click here and remember that past performance is no guarantee of future performance.

Next Steps

Are you interested in index fund investing ? Have you invested in one already?  Let me know in the comments section below. Also, get in touch if you would like my help. My email address is mike@learnmoney.io

 

Grammarly Writing Support

If you have enjoyed this post you will also like the following posts:

What is Ethical Investing? 

How to get Brand Deals as a Micro Influencer 

Are you Missing out on Compound Interest? 

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What to do if you are Made Redundant: 5 Steps

Credit Cards: How to Make Balance Transfers Work For You

What’s the Best Strategy for Clearing Debts?

Investments: Why Saving is Not Enough 

My aim with each blog post is to help you move to a better financial future. I believe that there is not enough financial education in the national curriculum and I intend to share anything helpful that I have learned along the way. I am by no means a financial expert. None of the information on this website constitutes financial advice and is provided as general information only.  This is my personal finance blog; my marketing blog is over here and I have been blogging there since 2010. I hope you have found this information useful. Thank you for reading.

Best regards,

Mike

Image credit: pexels.com

How to Invest in Property without a Large Deposit

This post may contain affiliate links please read our disclosure for more info.

Wherever you are in the world, investing in property, or Real Estate as it is called in the United States, remains one of the most prudent investments an individual can make. Once you have invested in property, you have the opportunity to benefit from capital appreciation (the value of the property going up over time) and rental income.

In the United Kingdom the total value of the UK’s housing stock hit £7.39 trillion* in 2019, a new record high. The traditional way into property ownership is to save a large deposit and secure a residential mortgage. In terms of a deposit, ten percent of the purchase price is a typical requirement by mortgage lenders. In London, this often amounts to tens of thousands of pounds. What if you haven’t got a large deposit? Does this mean that you will not be able to invest in property?  No, it does not. Keep reading to discover alternative ways to invest in property.

Property Crowdfunding

As the name suggests, property crowdfunding is when many individual investors come together via an online investment platform to purchase a property together. There may be several hundred investors for one property. The amount of money required is significantly lower than if you were trying to purchase the property yourself. A few thousand or in some cases a few hundred will secure your stake in a property and you must commit to specific time period, this could be five years. After that time you are free to exit the investment and liquidate your profits or reinvest into another property.

In the interests of balance I must point out that when you invest in a property via a crowdfunding site like Property Mouse or Property Partner you have little control over your investment once you have committed to it. Also, the reviews of both websites are mixed so my advice would be to do your due diligence before investing. If you live outside of the United Kingdom, there may be similar websites in your country.

Joint Venture Partnership

A Joint Venture partnership in the property market is when two individuals formally agree to work together and create an agreement clarifying each other’s role in the partnership. A person who finds below market value properties and presents them to a property investor could be covered by this sort of agreement. In that scenario the person who finds the properties (property sourcer) requires no funds but will be compensated for each successful property deal they present to the investor. Please note, that sourcing below market value properties for property investors is very competitive work. Be prepared to devote considerable time to it if this is your planned route to property market.

Property investment Funds REIT

Investing in property via a Real Estate Investment Trust (REIT) may be the most comfortable way of investing in property for many who lack a large deposit. A REIT is property investment company listed on the stock exchange. The company manages commercial properties, residential properties or both types for its shareholders. When you invest, you buy shares in the REIT. If the compnay does well you will receive a share of the profits. Please note, the value of your investment can go down as well as up.

These are just three options for investing in property without a large deposit, if you are serious please remember to do your due diligence. Also consider property bonds  and property unit trusts.

Next Steps

Are you interested in investing in property? ethical investments? Will your next investment be property related? Let me know in the comments section below. Also, get in touch if you would like my help. My email address is mike@learnmoney.io

 

Grammarly Writing Support

If you have enjoyed this post you will also like the following posts:

What is Ethical Investing? 

How to get Brand Deals as a Micro Influencer 

Are you Missing out on Compound Interest? 

Making Sense of Affiliate Marketing Course – Review

Respondent.io Review

Top 3 High Paying Affiliate Programs

What to do if you are Made Redundant: 5 Steps

Credit Cards: How to Make Balance Transfers Work For You

What’s the Best Strategy for Clearing Debts?

Investments: Why Saving is Not Enough 

My aim with each blog post is to help you move to a better financial future. I believe that there is not enough financial education in the national curriculum and I intend to share anything helpful that I have learned along the way. I am by no means a financial expert. None of the information on this website constitutes financial advice and is provided as general information only.  This is my personal finance blog; my marketing blog is over here and I have been blogging there since 2010. I hope you have found this information useful. Thank you for reading.

Best regards,

Mike

Image credit: pexels.com

*Source – https://www.savills.co.uk/insight-and-opinion/savills-news/294601/uk-housing-stock-now-worth-a-record

What is Ethical Investing ?

This post may contain affiliate links please read our disclosure for more info.

Ethical Investing

Ethical investing is an approach to investing where the investor filters potential investments according to their own values and moral principles. For example, it would be entirely understandable for someone to decide that they do not want to invest in companies that manufacture missiles or tobacco.

The earliest recorded instance of ethical investing in America was the 18th century Quakers who banned their members from spending their time or money in the slave trade. Indeed, historically religion was often a motivation for ethical investment. Today, in addition to religious motivations for ethical investing there there are also concerns for environmental issues, racial equality, gender equity and inclusion.

Do Ethical Investments Perform Well?

There is absolutely no guarantee that ethical investments will perform well over any time period or when compared to index funds. A prudent approach would be select firstly based on your values and then once you have done so assess all of these with performance based criteria. An investment portfolio comprised exclusively of ethical investments will look very different to one focused solely on maximising potential returns for an investor. In practice, ethical investing requires a lot of research, you must go deeper than the corporate brochures and mission statements to discover whether a company’s actions match their words. Unfortunately lots of companies claim to be more ethical than they really are.

If you are interested in investigating ethical investment funds in the United Kingdom, check out this resource. It’s a great starting point for building an ethical investment portfolio.  Please remember that this information does not constitute financial advice.

Next Steps

Are you interested in ethical investments? Will your next investment be an ethical one? Let me know in the comments section below. Also, get in touch if you would like my help. My email address is mike@learnmoney.io

 

Grammarly Writing Support

If you have enjoyed this post you will also like the following posts:

Are you Missing out on Compound Interest? 

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Top 3 High Paying Affiliate Programs

What to do if you are Made Redundant: 5 Steps

Credit Cards: How to Make Balance Transfers Work For You

What’s the Best Strategy for Clearing Debts?

Investments: Why Saving is Not Enough 

My aim with each blog post is to help you move to a better financial future. I believe that there is not enough financial education in the national curriculum and I intend to share anything helpful that I have learned along the way. I am by no means a financial expert. None of the information on this website constitutes financial advice and is provided as general information only.  This is my personal finance blog; my marketing blog is over here and I have been blogging there since 2010. I hope you have found this information useful. Thank you for reading.

Best regards,

Mike

Image credit: pexels.com

How to Make Money From Sponsored Posts

This post may contain affiliate links please read our disclosure for more info. This video was first published on my YouTube channel; you can subscribe to my channel here http://bit.ly/1BuKsoM .

Sponsored Posts

If you own a website there is an opportunity for you to make money with sponsored posts. A sponsored post is when a company pays you to publish a blog post that includes links to their company website or products and or services that they sell. These sponsored posts will match the theme of your website, usually the company or their agency will write the post and send it you to approve and publish. Occasionally the company will ask you to write you the post and will pay you extra for your time.

Sponsored posts are a happy by-product of regularly working on your website. The more you create and post regular content, the more your audience will grow. A growing audience that is engaged is attractive for companies who have the same audience. They will start to approach you, it’s important to be prepared for when they do. In the video, I outline some steps you can take to help you make money with sponsored posts including the creation of a media kit.  Wa

Next Steps

Are you a website owner? Are you currently making money from sponsored posts? Do you need my help?  Let me know in the comments section below.

Also, get in touch if you would like my help. My email address is mike@learnmoney.io

 

Grammarly Writing Support

If you have enjoyed this post you will also like the following posts:

Are you Missing out on Compound Interest? 

How to Make Money Selling Your Hair 

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Making Sense of Affiliate Marketing Course – Review

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Top 3 High Paying Affiliate Programs

What to do if you are Made Redundant: 5 Steps

Credit Cards: How to Make Balance Transfers Work For You

What’s the Best Strategy for Clearing Debts?

Investments: Why Saving is Not Enough 

My aim with each blog post is to help you move to a better financial future. I believe that there is not enough financial education in the national curriculum and I intend to share anything helpful that I have learned along the way. I am by no means a financial expert. None of the information on this website constitutes financial advice and is provided as general information only.  This is my personal finance blog; my marketing blog is over here and I have been blogging there since 2010. I hope you have found this information useful. Thank you for reading.

Best regards,

Mike

What are the Coronavirus Job Opportunities?

This post may contain affiliate links please read our disclosure for more info. This video was first published on my YouTube channel; you can subscribe to my channel here http://bit.ly/1BuKsoM .

Coronavirus Job Opportunities

It will not have escaped your attention that we are in the midst of a Coronavirus pandemic. It is a global health crisis and it is also an economic crisis. As governments around the world struggle to contain the coronavirus outbreak, many have lost their jobs because their places of work have been forcibly shutdown as part of lockdown restrictions.

Despite this bleak outlook there are some industries that are benefitting from the crisis. In this video, I discuss 4 industries that are recruiting right now as a response to the coronavirus crisis. There are quite a lot of coronavirus job opportunities. If you find yourself newly out of work, this post will help you. All of the links that I refer to in the video are in the video’s description box.

Next Steps

If you are interested in any of the job opportunities that I mentioned in the video, click on the links in the description and follow the instructions to make an application. Once you have applied, let me know how you get on via the comments section below.

Also, get in touch if you would like my help. My email address is mike@learnmoney.io

 

Grammarly Writing Support

If you have enjoyed this post you will also like the following posts:

How to Make Money Selling Your Hair 

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Respondent.io Review

Coinbase Earn: Earn Free Cryptocurrency

How to Monetize Twitter with Affiliate Marketing

Top 3 High Paying Affiliate Programs

What to do if you are Made Redundant: 5 Steps

Credit Cards: How to Make Balance Transfers Work For You

What’s the Best Strategy for Clearing Debts?

Investments: Why Saving is Not Enough 

My aim with each blog post is to help you move to a better financial future. I believe that there is not enough financial education in the national curriculum and I intend to share anything helpful that I have learned along the way. I am by no means a financial expert. None of the information on this website constitutes financial advice and is provided as general information only.  This is my personal finance blog; my marketing blog is over here and I have been blogging there since 2010. I hope you have found this information useful. Thank you for reading.

Best regards,

Mike

Are you Missing out on Compound Interest?

This post may contain affiliate links please read our disclosure for more info.

What is Compound Interest?

The thought of saving money is not exciting to many people, they would rather buy things with the money that comes into their hands or wallets. Compound interest makes the prospect of saving money more exciting.

Compound interest is when you earn interest on the interest that you accrued as well as the initial sum invested.

How Does it Work?

For example, if you saved £1000 at an interest rate of 5%, at the end of year 1 you would have £1050, with a compound interest account you would then earn 5% interest on £1050 by the end of year 2.

This would mean that your total going into year three would be £1102.50 instead of £1100.00 if you had earned 5% each year. Over the long term, the increases to your savings total become very significant so much so that Albert Einstein reputedly said of compound interest,

“Compound Interest is the most powerful force in the universe. Compound interest is the 8th wonder of the world.  He who understands it, earns it; he who doesn’t, pays it.”

Albert Einstein

Savings Accounts & Compound Interest

Given how beneficial Compound Interest is to the individual saver, you would expect all savings accounts to offer Compound Interest to their account holders but that is not the case. There is every possibility that your savings accounts are not paying you compound interest, please check with your bank or building society. Your bank may be only paying you simple interest, which is interest paid annually on the principal sum only.

If they are not, study the example below and open a new account that will pay you compound interest from any provider you choose. Remember that to really benefit from compound interest you will need to save for the long term.

This is an example of a UK savings account that pays compound interest. International readers, you may need to do some investigative work to find comparable savings accounts in your country.

Next Steps

Hopefully this post has made you re-consider the savings accounts that you have; now is the time to open an account that will pay you compound interest. Let me know your thoughts in the comments section below. Also, get in touch if you would like my help. My email address is mike@learnmoney.io

 

Grammarly Writing Support

If you have enjoyed this post you will also like the following posts:

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Making Sense of Affiliate Marketing Course – Review

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Coinbase Earn: Earn Free Cryptocurrency

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Top 3 High Paying Affiliate Programs

What to do if you are Made Redundant: 5 Steps

Credit Cards: How to Make Balance Transfers Work For You

What’s the Best Strategy for Clearing Debts?

Investments: Why Saving is Not Enough 

My aim with each blog post is to help you move to a better financial future. I believe that there is not enough financial education in the national curriculum and I intend to share anything helpful that I have learned along the way. I am by no means a financial expert. None of the information on this website constitutes financial advice and is provided as general information only.  This is my personal finance blog; my marketing blog is over here and I have been blogging there since 2010. I hope you have found this information useful. Thank you for reading.

Best regards,

Mike

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