By now we know we should be stashing some money away in a high-yield savings account for some guaranteed growth - especially because these days, some high-yield savings accounts offer up to 5% APY (or even more!). That's FREE money. But how can you tell how much that compounding interest is going to make you in a certain timeframe?

Anna Manukyan, certified financial educator and Senior Director of Education and Creative at Ulta Beauty, has a recommendation for you: an app called Compounder. See how it can help you determine what compounding interest will do for you in Manukyan's latest #FinanceFriday video below.


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Originally posted on Modern Salon