Question

SOMEONE PLZ HELP!! I NEED IT DONE, ITS DUE TODAY!!!

One of the hardest things about handling money is balancing short-term needs and wants with long-term needs and wants. How can you save money in an interest-bearing account when you need every penny to pay for school loans, car loans, rent, and utilities? Write one paragraph that explains why thinking about the future might be important even when you're having a hard time managing the present.

(10 points: 5 points for describing the power of the rule of 72 and the rule of 69 in planning for the future; 5 points for explaining why retirement savings might be important)

Answer 1

The Rule of 72 is a quick, useful formula that is popularly used to estimate the number of years required to double the invested money at a given annual rate of return.

Step-by-step explanation:

Answer 2

Retirement saving might be important because when you've hit that age of retiring . Retirement saving will ensure you that you have enough money to enjoy a comfortable life style. You can also save for retirement by putting it in an IRA.

Step-by-step explanation: