Question

why is it important for young people to start saving early as possible given the principles of interest?

Answer 1

ANSWER: Saving at an early age is beneficial in many ways. Young people learn to save money and this good habit proves beneficial for them. The person can fulfill many of his dreams early in his age by saving from young age like buying home, car or traveling distant places. The person can also invest in savings c-u-m investment schemes such as mutual funds to fulfill much bigger dreams or goals.

Answer 2

Saving at a young age could be a really great investment on your future from years from now. It has several benefits like learning how to handle your money properly, investing to grow your money more and an early retirement with a lot of coins in your pocket for when you want to enjoy traveling more.