You can grow the money you save by investing it to earn a return. You can make your money grow faster if you also invest the money you earn (your return) along with the money you started out with. This is called compounding. Compounding works for both guaranteed and non-guaranteed investments.
Read “Growing your savings with compound interest” for detailed information about how compounding works for both guaranteed investments and non-guaranteed investments, and examples of how your savings can grow.
Use GetSmarterAboutMoney.ca’s Compound Interest Calculator to see how even small amounts add up over time.