This is an excerpt from Dollar Scholar, the Money newsletter where managing editor Julia Glum teaches you the modern money ...

Albert Einstein once said: “Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn’t, pays it.” The concept of compound interest is a fundamental principle ...

“Interest” has many uses in finances—and many uses work in your favor. For example, earning interest can help improve your overall net worth. In fact, compound interest (sometimes also called ...

Compound interest can help turbocharge your savings and investments, or it can quickly lead to an unruly balance, keeping you stuck in a cycle of debt. Its magic can help you earn more — or owe more.