“Huh? What is compound interest?”
I stared at my friend in disbelief. My jaw hung open.
“What do you mean what’s compound interest?” I asked him.
“What’s that la? Simi sai interest is that?” he asked again.
At first I thought he was joking. But then I realised he wasn’t.
I then proceeded to spend the whole dinner explaining to him what’s compound interest and how he could make use of it to generate money. I summarised that it’s basically using money to make more money. I also emphasised that the key to make full use of compound interest is to start investing as early as possible.
At the start, the cash may be small and insignificant but over time it could snowball into an unstoppable force.
His eyes widened as he suddenly understood the Math. He nodded his head intently. He was probably calculating how many ......