After seeing this chart, I wish I’d started saving earlier

As the saying goes, the best time to seek financial advice is 20 years ago… the second best time is now!

How many of us would do things differently with the benefit of hindsight?

And would it often be related to money?

You may have heard the term ‘compounding’, which is another way of saying making your money work for you. Well, I recently came across an article at Lifehack, which has a great example of how beneficial compounding can be for you.

“Compound interest is the eighth wonder of the world” ~ Albert Einstein

As you can see from the chart below, the difference investing makes over a 10-30-40 year period makes is substantial.

So how do you achieve this?

With these easy steps:
  1. Get proper advice – ‘my mate said’ is not a good strategy to part with your hard earned. Speak to a professional
  2. Pay yourself first – ensure you pay ‘you’ before paying someone else
  3. Budget – set targets and stick to them. It’s not the most exciting thing you can do with your time (so outsource it if you like), but do it, nothing creates financial certainty and clarity like a budget
Implement these three steps and you’ll significantly improve your chances of achieving your financial goals.
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