Compound interest

When starting out saving, what is the best thing to do if you want take advantage of compound interest to grow your money?

Your best bet when getting started would be to find a high-interest savings account.

With many new online banks and platforms being introduced to the marketplace, the interest rates are starting to get pretty competitive and it should not be hard to find something that could work for you.

I am not an expert on the topic but I did find this article from Motley Fool that goes into more detail about what types of investments can give you compound interest.

Hope this helps!

For anybody else reading who is wondering how compound interest works, here is a post on The Penny Hoarder with what you need to know.

They have also put together this awesome list of the best online banks!