Michael Benninger is the lead editor of banking at Forbes Advisor, with more than 10 years of experience in the personal finance space. His writing has been published by the Los Angeles Times, ...

Affiliate links for the products on this page are from partners that compensate us and terms apply to offers listed (see our advertiser disclosure with our list of partners for more details). However, ...

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 commonly described as "interest earned on interest." Compound interest can work to your advantage as your investments grow over time, but against you if you're paying off debt, ...