answersLogoWhite

0

ANSWER:

If you save your money with a bank or savings and loan you will earn interest on that savings. The banks will make more money on your savings by investing it. The interest you earn is a form of residual income. The return you get on your buck from saving your money in a banking institution is minimal and you are better served investing that money in forms of income that can either directly create residual income or lead you closer to earning real income. Residual income is the money you make outside of your own effort. When you are making money while you sleep soundly because you have no real money problems, that's your money growing.

Also, ways to make your money grow is to do some odd jobs so that you will have money to put in the bank. Your money amount will double in seven years. But if you keep adding to it, the money will grow faster. If you keep saving your money, investing it wisely, you could have a lot of cash on your hands.

User Avatar

Wiki User

13y ago

What else can I help you with?