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When you invest at a young age, you give your investments more time to grow and compound.
Compound interest is when the principal amount you invest gains interest over time.
That interest then becomes part of your new principal amount and earns more interest.
The process of your interest earning interest over time creates a snowball effect.
The earlier you start, the better off youre going to be, Cruze said.
Creating a buffer is one way to ready yourself for any expenses that come your way.
However, Cruze pointed out that even an emergency fund can sometimes fall short.
She suggests getting insurance in areas that make sense for your life to secure your finances.
However, its important to stay positive and make effective decisions, no matter how small.
In the end, youll havefinancial freedom and disposable incomefrom the small financial choices you make today.
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