Power of Compounding and How to save more
Power of Compounding & How to Save More... In this article, I will share with you some common principles to begin in the stock market or anywhere else. They are the power of compounding and how to save more by understanding the power of Money. Setting the foundations right is a must before starting your journey. I will start with a quote by Steve Jobs: “Deciding what not to do is as important as deciding what to do.” The reason why I shared this quote is that many times we spend money on things we don't need or on things which are merely bought to impress others. In order to imbibe the habit of savings, let us understand the power of compounding and the power of money. I will try my best to be simple in my language and concepts. Let us say, you invest 1000/- in a stock which gives you a decent return of 10% (although many quality stocks give you 15-20% return in the long term). So, by investing 1000/- in a stock with a 10% annual return, you get 1610/- after ...