European Stars And Stripes (Newspaper) - October 24, 1986, Darmstadt, Hesse                                S4s photo Liy Bab but both know How to put Money in a Hank. Conan Grimm Momper cacti disposable Pon onal in Corr in Mou Undt of John 12.5 1976 78 80 2u Quarter of Natl rat but us Mot pm instalment and rats percent of a bad be Nonal income 20% 1976 78 80 through june and. Of i a Hind on a tying pc Tilmont cwt  30 do or my in percent eve lower ranks should be Able to save a re you saving Money ii you Afen 1.10 or 20 years Down i Herod you May be kicking  you have to borrow Money to Send the kids to College failure to save when you had the Chance May Lead to painful second guessing a savings plan say most consumer experts. Should tie tha ultimate goal of personal Nonay i management the potential for saving depends on personal income and the control of expenses. The More squandered on junk or unneeded status items the Ess there is for savings financial Counselor say most military families in Europe should be Able to save 10 percent of net income once they be paid the extra costs associated with moving. Robert Carter an Independent financial Counselor in Frankfurt says everyone including the lowest ranking service members should be Able to save something. It s a lot better to save j25 a month than never to save anything Carter said. Over the Long Maui with pay hikes savings can be increased. In 10 to 20 years they will add up to quite a nest  at current interest rates Carter says . Savings Bonds Are an attractive Way to Start a savings program. Savings Bonds pay a least 7.5 percent interest which is lax deferred until they Are cashed. Carter also likes Mutual funds. It s hard to beat a Good Mutual Lund As a Long term savings device he said. They May not be As sexy or exciting As stocks but they re Saler. The trick is to get a Good  savers who place funds in military banking outlets and credit unions should remember thai As a general Rule the highest interest is paid on targe sums on Long Lerm Deposit. Before getting into savings Counselor recommend the establishment of a family emergency fund equal to Al least a month s take Homo pay of All family members drawing income. Such funds May be tapped for any emergency such As a trip Home in the event of a death in the family. As an alternate to the emergency Lund Carter suggests the establishment of a line of credit with a credit Union or Bank. This is advanced approval or a loan but in s used Only in the event of an emergency Caincr said. The advantage is that it frees the Money that would be in an emergency fund Lor a higher Pic id it s a loan that in t used till needed. And in costs nothing tilt used american express s Preaulo Horried line of credit pal allows members a line of credit from $300 to $5,000. Depending on their income and debt clients must apply in Advance for this program.  scouting for the Best interest if you re an investor it pays to scout around for the Best interest Rales  Rule of 72 shows Why. Just a few percentage Points in interest can make difference of Many thousands of dollars on a Long Lerm investment. Comparing the results of investing $1,000 at 6 percent and 9 percent demonstrates the advantages of Locking in the higher yield. Over a 24-year period the 9 percent return Wirtl expand the original $1.000 eight fold Lor a value of j8.000. The same Money invested at 6 percent Wib be Worth just Harf thai much or �4,000 at the end of 24 years. Tho Rule of 72 underscores the Geometric growth of Money Al progressive by higher interest Rales. By dividing the rate of interest into 72, it provides the approximate number of years it takes to double an investment. Nine divides into 72 eight times. This mum a9 percent investment will double in eight years and that it will double three limes in 24 years. Using the same formula at 6 percent interest shows that in takes 12 years to double the investment and 24 years for it to double twice. The principle applies or the smallest sum of Money a financial institution will accept. But larger sums invariably attract the highest interest rates. Trwruted7z Doe rat late  taxes which Are proportionately highs on larger earnings. And it ignores the volatility of interest rates undercurrent . But demonstrates the advantages of higher yielding invest meals. In Frankfurt financial Counselor. Robert Carter uses the Rule of 72 to dramatize the earnings spread Between interest rates. Counselor dealing with the military say Many of their cheats ignore interest rates particularly when making Small investments their advice if a actors including investment Security Are equal choose the highest rates Ava tote. . The stars and stripes