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.

Compound interest is a fundamental financial concept that can dramatically impact your savings. Unlike simple interest, which is calculated only on the principal amount, compound interest is ...

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