So why is that so important? The charts below will show you the incredible impact compound interest has on your savings and why starting to save in your 20s is one of the best things you can do.

Using our compound interest calculator can help you understand how ... You can also press the "show details" button to see ...

Image caption, STEP 4: Multiply the amount of money by the decimal to find the value with added interest. Here it is £20 × 1.05. Before using a calculator can you estimate the answer in your head?

Teaching children about money can be a fun and rewarding experience. By introducing them to the concept of compound interest, you can set the foundation for a lifetime of smart financial decisions.