MAM
Unlocking the power of compound interest: Strategies to grow your savings account
In the world of finance, it is essential to be aware of the power of compounding, especially when this has the potential to transform your finances in the long run. The power of compounding is all about earning interest that can be reinvested to further generate more interest, which over a period of time can lead to creating substantial wealth.
In this article, learn the power of compound interest and go through key strategies that can help with growing your savings account for financial success.
1. Start investing regularly
One of the most common yet effective topics that people often stress about is the importance of starting early when it comes to investing. Those who start too late have a smaller time window to accumulate the required corpus to live a financially independent life once they retire. When you start investing from a young age, you can have a long-term investment horizon and can comfortably build a strong corpus by the time you retire.
2. Make sure to stay invested for the long term
As mentioned in the previous point, starting early with your investments lets you exercise the option of having a long-term investment tenure. This is where you can maximise the benefit of compounding, wherein the interest on your investment will get added back to the principal amount and earn further interest. It is advisable to avoid withdrawing or selling your investments prematurely so that your funds can compound and grow steadily over a long period of time.
3. Reinvest the interest earned
While it is tempting to spend some of your investment amount once it generates healthy returns, it is ideal to reinvest these earned returns. While this is a tough choice to make, it is an effective one that will help you take advantage of the compounding effect, accelerating your savings growth.
4. Consider investments that offer preferential compound interest payouts
You can also opt for investments that compound interest more frequently. While most investment avenues compound interest on a yearly basis, there are some savings accounts and fixed deposits that compound on a quarterly or monthly basis. With a higher frequency of compounded interest, your returns can effectively increase too, so make sure to keep that in mind when you open a savings account online.
5. Try and increase investments as your income grows
Maintaining financial discipline is about regularly setting aside funds from your income towards your investments. However, keeping inflation in mind, it becomes essential to also increase these investment amounts as the years go by. With your yearly appraisals, bonuses, incentives etc., make sure to also increase your investment amounts along with your income. By making higher contributions towards your investments, you will be able to increase your principal amounts that generate returns, thus also accelerating the effect of compounding.
To sum it up, starting your investments early, choosing the right investment vehicles, reinvesting the interest generated, and staying committed to your investments will help with unlocking the true potential of compounding. Using your bank account to take advantage of compounding interest is not an overnight process, which is why you need to be patient and disciplined with your investments.
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Abhay Duggal joins JioStar as director of Hindi GEC ad sales
The streaming giant brings in a seasoned revenue hand as the battle for Hindi television advertising heats up
MUMBAI: Abhay Duggal has a new desk, and JioStar has a new weapon. The media and entertainment veteran has joined JioStar as director of entertainment ad sales for Hindi general entertainment channels, adding 17 years of hard-won revenue experience to one of India’s most powerful broadcasting operations.
Duggal is no stranger to big portfolios or bruising markets. Before joining JioStar, he spent a brief stint at Republic World as deputy general manager and north regional head for ad sales. Before that, he put in three years at Enterr10 Television, where he ran the north region for Dangal TV and Dangal 2, two of India’s leading free-to-air Hindi channels. The north alone accounted for more than 50 per cent of total channel revenue on his watch, a number that tends to get attention in any sales meeting.
His longest stint was at Zee Entertainment Enterprises, where he spent over six years rising to associate director of sales. There he commanded the Hindi movies cluster across seven channels, owned more than half of north India’s revenue across flagship properties including Zee TV and &TV, and closed marquee sponsorships across the Indian Premier League, Zee Rishtey Awards and Dance India Dance. He also handled monetisation for the English movies and entertainment cluster and the global news channel WION, a portfolio that would stretch most sales teams twice his size.
Earlier in his career Duggal closed what was then a Rs 3 crore single deal at Reliance Broadcast Network, one of the largest in Indian radio at the time, before that he helped launch and monetise JAINHITS, India’s first HITS-based cable and satellite platform.
His edge, by his own account, lies in marrying data and instinct: translating audience trends, inventory signals and client demands into long-term partnerships built on cost-per-rating-point discipline rather than short-term deal chasing. In a media landscape being reshaped by streaming, fragmented attention and AI-driven advertising, that kind of rigour is increasingly rare and increasingly valuable.
JioStar, which blends the scale of Reliance’s Jio platform with the content firepower of Star, is doubling down on its advertising business at precisely the moment the Hindi GEC market is getting more competitive. Bringing in someone who has spent nearly two decades doing exactly this, across some of India’s most watched channels, is a pointed statement of intent. Duggal has spent his career turning audiences into revenue. JioStar is clearly betting he can do it again, and bigger.
