Question

We use money in our daily lives. How you earn, spend, and save money all rely on math skills. Although the basics of money matters are taught from an early age on they still impart struggles into adulthood. Think back to your own “money-math” experiences and share how you learned about money and what important lessons you took away from the experiences. Please include specific strategies that help you make informed financial decisions.

Answer 1

One important math based money decision is to start investing early

This is based on compound interest as the value of 1 dollar compounded by 1% for 30 years is

If we made the same invested 10 years later we would have

We would be losing about for each dollar we invested 10 years later.

So the mantra i use is to start small but early (as early as i can afford to save)

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