The Best Kept Money Secret | Kim Scouller

by Flourish Digital Magazine

In previous articles, I’ve talked about the importance of learning how money works. Let’s start with a basic financial concept many people do not know—but it’s something that can make a huge difference in your personal finances.

 

Have you ever heard of the Rule of 72 before? It’s a little-known mental math shortcut that the wealthy have used for years. It’s one of the best kept money secrets. You simply divide any interest rate into the number 72 and it tells you about how long it takes for money to double. It works for you if you save money and against you if you borrow money.

 

Read more on page 26 in the latest issue of Flourish Digital Magazine

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