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Red Flag #2: You Borrow More Than You Save

Americans have one of the lowest savings rates in the world, and it's come back to bite us in a BIG way! If you borrow more than you save, it will catch up with you.

Too much debt will completely kill your savings and investing plans. So your $2,000 vacation could end up costing $3,000 (or more) when it's finally paid off – a complete waste of a thousand dollars!

And believe us Dolans – thanks to compounding interest, if you had invested that $1,000 instead, you could have built a healthy nest egg over time.

See the huge power of compounding interest at work– plug in your own savings numbers into our Compound Interest Calculator and see how much your money will be worth in just a few years!

Next: You Spend Like There's No Tomorrow