A business.com editor verified this analysis to ensure it meets our standards for accuracy, expertise and integrity. Business.com earns commissions from some listed providers. Editorial Guidelines.

Do you have lofty dreams that require building up your savings? You may be saving for a car, vacation, or down payment on a home. Are you taking advantage of compound interest to reach your dreams?

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, ...