Caisses Desjardins du Québec and Caisses populaires de l'Ontario [Change site]
When it comes to saving, time is money
The younger you are when you start saving, the more you'll have in the long run. The secret to saving a tidy sum every year is to save throughout the year. Opt for regular deposits, deducted straight from your account. You'll see how just a few dollars a week or a month can grow into a substantial nest egg.
With the magic of compound interest, here's what saving just $10 per week1 could earn:
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Time span |
Amount invested |
Accumulated interest |
Total (Amount invested + interest) |
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|---|---|---|---|---|
After 10 years |
$5,200 |
$2,323.69 |
$7,523.69 |
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After 20 years |
$10,400 |
$12,267.42 |
$22,667.42 |
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After 30 years |
$15,600 |
$37,548.80 |
$53,148.80 |
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Here is what happened when we changed the amount to $50 a week1.
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Time span |
Amount invested |
Accumulated interest |
Total (Amount invested + interest) |
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|---|---|---|---|---|
After 10 years |
$26,000 |
$11,618.47 |
$37,618.47 |
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After 20 years |
$52,000 |
$61,337.12 |
$113,337.12 |
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After 30 years |
$78,000 |
$187,743.99 |
$265,743.99 |
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1 Examples assume a return of 7%, compounded annually
Did you know?
Compound interest is interest that is paid on the interest that is added to amounts invested at periodic intervals. As a result your savings grow faster, because interest is always calculated on the total balance, which grows steadily.
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 At the caisse
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Money question
Are you able to put money aside each month?