Hey! Do you know how to make your money work for you, simply by using the power of time?

Compounding interest is, essentially, interest on interest. Interest accumulates on what you put in as well as any interest that came before. It adds up faster than you might think.

For example, say you start with $10,000 and contribute another $500 every month for five years at a 5% interest rate that compounds annually. In five years, you will have around $38,000. In ...

TRANSCRIPT

(Kristen) Welcome to Money Matters at 7:57 with Justin Chastain. And, Justin, for those out there who are trying to cut back this year, what are some ways to really save money on a tight budget?

(Justin) Don’t take yourself too seriously. So, I always tell people it’s not about cutting things out or giving things up. It’s what are you adding value towards? So, when you’re looking at your value-based budgeting, make sure if you don’t value something in your ...