HOW MONEY ACCUMULATES

Now that you understand why debt is a leading issue it is obvious to understand Savings is the key aspect. It may sound simple enough to save a percentage of your pay check weekly or bi-weekly, yet the question isn't how do I save money, rather where do I input my money to invest.
Many decide to open a Savings account at a local Bank with a three to five percent interest rate hoping a dollar increase will occur, but at a three or five percent interest rate do you realize how long it will take for your money to double or even triple? This question can be answered from a simple Banking rule that Banks do not want you to know. This is called the rule of 72. The rule of 72 works in the following way. Take the Interest rate that is given and divide it into the number 72. The result is the number of years it would take for your money to double, therefore at 3% interest divided into 72 it would take twenty four years for your money to double. Lets take a look at another logic. If you put 1000$ into the Bank. It would take 24 years for your money to reach 2000$ .
It is definitely not worth investing your money into a bank because one can only live one 24 year cycle not giving you a chance to triple your money. If you were to invest the same amount of money, but this time into a 6% interest your money will double in twelve years. Twelve years Does seem reasonable because you can triple your money, yet the banks are receiving 12% interest investing your money! My next post will Explain How and Why Banks are taking advantage of working people and Sharing such a small percentage with their consumers and what you can do to turn the odds to your favor.