Question 1

What is Project Based Learning?

Accepted Answer

Education can be more interesting and effective by focusing students on work that matters. Project Based Learning focuses on involving students in projects that teach a variety of skills. Key points in this video are:

How critical thinking, collaboration and communication help everyone in the real world
How PBL helps develop these skills in students
An example of a teacher who uses PBL in the classroom to get students involved in asking questions, doing research, collaborating and communicating
The impact of learning a subject in-depth via PBL and presenting the results to others

Presentation Note: This video is courtesy of BIE.org and includes a title slide at the end of the video.

Video Transcript:

You remember what it was like in school. IT WAS BORING! You sat in class, memorized as much as you could and tried to pass a test at the end. But is that good enough? These days school can be more interesting and effective by focusing students on work that matters.

Most adults live in a world of projects. Whether it’s a job assignment, home improvement or planning a wedding, we need to actively solve problems. But unfortunately, schoolwork looks more like this than this.

Let’s take a look at this Project Based World. Meet Claire. She was recently presented with a challenge. Her company, Super Suds, makes soap and it was up to her to find the most earth-friendly way to produce it in the future. Her boss gave her a budget and a few requirements - and it was up to her to come up with a solution. She organized and managed a team who researched the options and created materials summarizing the issues. Claire’s team asked for feedback and presented their findings to the boss.

Claire came out of the project looking like a rock star and she learned a lot about green products. If you look closely, Claire’s success involved critical thinking, collaboration, and communication. Things that aren’t often taught in traditional classrooms.

The world needs more Claires. So how do we get them?

The answer is Project Based Learning or PBL. By focusing students on a project, teachers put them on a path that deepens their knowledge and builds skills they’ll need in the future.

Here’s what I mean. Mr. Simmons has always been a good science teacher and his students do well on Fridays’ tests. Unfortunately, what they learned was gone by Saturday morning. That wasn’t good enough for him. Soon he learned about Project Based Learning and decided to give it a shot.

Mr. Simmons got the idea for his first project on microorganisms when nearly half of his students were suddenly absent with the flu. He asked his students why they thought so many of their classmates got sick at the same time. That lively discussion produced a lot of good questions and a list of things the kids wanted to know. Mr. Simmons then announced their project was to help elementary schools kids understand - How can we not get sick?

After dividing the class into teams, he got them started on the project. It was up to the students to ask questions, research, collaborate, give each other feedback and figure out the best ways to make their points clear to children. One team chose to make an educational video on the connection between hand washing and avoiding the flu. Another chose to create posters to show how viruses spread.

The project teams showed off their final work to an enthusiastic audience of parents and their children at a nearby elementary school. Sitting in the front row was our good friend and local rock star Claire, who saw a bit of herself in the students. It was clear that the project was a success for the students, the audience, and Mr. Simmons.

His students practiced critical thinking, collaboration and communication. The project wasn’t about memorization, but learning in-depth about viruses and how to prevent spreading disease - A lesson they will never forget.

At the end of the presentation, Claire introduced herself to the students and told them that they were rockstars, and that the world needs more people who can think like them.

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This FAQ library was created by Eran Bucai. Eran is an online entrepreneur who is passionate about helping people find success building a profitable business online without the high ticket prices and without the marketing hype.

Eran has a tech support membership which you can learn more about here: DotComTruths.com

Eran helps people choose the best software for their business which you can find out more by visiting EranFunnels.com/software.

Question 2

What is Cloud Computing?

Accepted Answer

What it teaches:

Using a simple story of a growing florist business, this video explains the basics of cloud computing: how it works and why it makes sense for businesses and individuals.

The difference between on-site computing and cloud computing
The financial benefits of cloud computing
What makes cloud computing secure and efficient
How cloud computing impacts consumers

Video Transcript:

Computers used to work alone, inside a home or business. But thanks to the Internet, we can now use the power of computers at a completely different location - what we call "in the cloud".

To start, meet Lucy from Lucy's Lilies, a new florist. She is concerned about how to manage flower deliveries. Right now she's responsible for hiring drivers and keeping the vans running. But this scenario makes her nervous.

She's a florist, not a mechanic - delivery is a distraction.

Then she learned about a new kind of delivery company that has an unlimited fleet of drivers and vans that she can use on an as-needed basis - and she only pay for what she uses. Now she can depend on another company to handle the deliveries.

A few years later, her business savvy paid off. She now has a network of florists and new problems.

Then she learned about cloud computing, which works a lot like her deliveries. Instead of managing important technology on-site, she can depend on a new kind of company to help take away the pain.

They have all the computing power she needs and it's all secure, backed up at another location and accessible through the Web - what people call "in the cloud."

This means she can depend on a cloud company's computers to help her business run and focus her energy on fantastic flowers.

But that's not all. Cloud computing means computers don't have to limit her business. Because Cloud companies have nearly unlimited storage and resources, she can grow without worry. And because the servers are normally backed up in multiple locations, her information is safe.

But what she really loves is only paying for what she uses. If business is slow, her computing costs can go down too.

Cloud Computing also means she can use new kinds of services that live in the cloud and are only accessible through the web.

When she needs a new billing system, she has a choice: installing and supporting one on-site, or using a product that lives in the cloud and works using her web browser.

From email, to word processing or photo sharing - cloud computing also works for you and me. We can use products that live in the cloud, are always backed up, accessible from any Internet connection, and safe from spilled coffee.

Cloud computing means we have new choices. Businesses and individuals can spend less time worrying about technology and focus on what matters.

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This FAQ library was created by Eran Bucai. Eran is an online entrepreneur who is passionate about helping people find success building a profitable business online without the high ticket prices and without the marketing hype.

Eran has a tech support membership which you can learn more about here: DotComTruths.com

Eran helps people choose the best software for their business which you can find out more by visiting EranFunnels.com/software.

Question 3

What is Insurance?

Accepted Answer

What it teaches:

Insurance is an important part of being financially responsible. This video highlights the risks of not having insurance and how it works to aid in recovery after something bad happens.

How unpredictable events can create financial problems
How insurance aids in the recovery process
How policies work and the costs involved
Why paying for long-term protection can make sense

Video Transcript:

Bad things happen. And when they do, recovering can take time and money. Thankfully, we have help.

Let’s say you’re on a boat, when a wave comes from out of nowhere and knocks you into shark-infested waters. Events like this are difficult to predict, so the best thing you can do is have a way to recover quickly.

Now falling off of a boat is just an example. In real life, events like your home burning down can be devastating. Recovering from these events requires a lot of money. Money that most people don’t have. Thankfully, we have a way to recover from these big expenses. It’s called Insurance.

Let’s say your car gets caught in a storm. Suddenly you don’t have a car or the money to fix it. Without insurance, you might have to borrow a bike to get to work. But with insurance, you’ll have a way to get your car fixed or replaced.

It sounds too good to be true, right? Well, insurance comes with costs. To be protected, you buy it from an insurance company. When bad things happen, the company will help you recover by paying some of the expenses.

Here’s how it works. To get insurance, talk with an insurance company about the things that are important to you. These are usually things like your health, your car, your home and your family. You’ll set up a plan or policy with the company that outlines how insurance will help when something bad happens.

For instance, a policy might outline when and how much an insurance company will pay when your car is wrecked, your home id flooded, or you can’t work for a period of time. There are even policies that outline how your family will be protected if something happens to you. Insurance policies are very specific. It’s important to understand exactly what a policy covers.

To have this kind of protection, you’ll pay the insurance company over time. Even if you’re healthy and your property is safe, you’ll still pay on a regular basis. These payments are how insurance companies can afford to cover people like you.

Of course, this means you may pay for insurance your whole life and never use it. Before you question the value, remember that insurance covers the big expenses caused by things that are out of your control. Without insurance, these things can come along and take away your hard-earned money.

Insurance is an important part of being responsible with your money and property. Talk with a company you trust about what’s important to you. Take the time to ask questions, read the fine print and compare policies. Insurance won’t keep you from falling in, but it will help you recover more easily when bad things happen.

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This FAQ library was created by Eran Bucai. Eran is an online entrepreneur who is passionate about helping people find success building a profitable business online without the high ticket prices and without the marketing hype.

Eran has a tech support membership which you can learn more about here: DotComTruths.com

Eran helps people choose the best software for their business which you can find out more by visiting EranFunnels.com/software.

Question 4

What is Web Conferencing and Webinars?

Accepted Answer

Meeting face-to-face is great, but it can be expensive and difficult to plan. That’s why web conferencing is becoming more popular. These systems allow a group to connect and share information using only an internet connection. This video explains the basics, It teaches:

Why face-to-face meetings are cumbersome and expensive
How web conferencing can be used to accomplish the same goals
How to create a web conference and invite attendees
What features are often used in web conferences
Why web conferencing can be more effective than normal meetings

Video Transcript:

These days, meetings are a time for people to watch presentations, discuss plans and more.

That’s why more people are using web conferencing systems, which open meetings to anyone with internet access. Here, a group of people anywhere in the world can meet online, watch a presentation, have a group discussion in real time, and more. Here’s how it works…

Imagine you work at a business that creates and sells software. Many of the company’s employees and customers work from locations around the world.

With the system in place, you can create a meeting using web conferencing software on a computer or via a website.

When you create the meeting, you can provide details and designate who should join and more.

A few minutes before the meeting time, you open the web conferencing system, upload the presentation you’ll share and test your microphone and audio. You’re ready to lead the meeting!

When showtime arrives, the attendees use the link they received in email to join the meeting.

During the meeting, you have control of what the attendees see and hear as changes happen in real time. Along with the presentation, you may be able to share links, conduct polls and more. The attendees may just watch and learn.

You may also be able to invite other attendees to become the “presenter”, which gives them control of the presentation.

Most web conferencing tools include the ability to record the presentation for future replays.

And this system can work for everyone in the company. Engineers can explain new features, salespeople can educate their clients and HR can share new policies.

Face-to-face meetings are great, and today we have more affordable options that open meetings to anyone with an internet connection.

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This FAQ library was created by Eran Bucai. Eran is an online entrepreneur who is passionate about helping people find success building a profitable business online without the high ticket prices and without the marketing hype.

Eran has a tech support membership which you can learn more about here: DotComTruths.com

Eran helps people choose the best software for their business which you can find out more by visiting EranFunnels.com/software.

Question 5

What is the Benefit of Preparing an Emergency Plan?

Accepted Answer

Emergencies happen when we least expect them and few understand the benefits of having a plan for how to react. This video uses three scenarios to introduce what should be in your emergency plan, including:

Why a plan is important
What to do if your family is separated in an emergency
What to do if you must evacuate or stay home
What to remember for those with special needs

Video Transcript:

By definition, emergencies happen when we don't expect them and often when families are not together. Suddenly, you need to think about your kids at school or elderly parents across town. If phones don't work or some neighborhoods aren't accessible, what will you do?

The best way to help ensure your family’s safety is to have an emergency plan. Having a plan and discussing it with loved ones will save time and make real situations less stressful.

To get started, let's look at one of three scenarios. In our first scenario, you and your family are separated. In an emergency, you'll need a simple way to contact and meet one another if going home isn't possible. Decide, in advance, on a safe place to meet like a community center, library or school.

The phone can help too. Long distance calls may work better than local ones, so select a couple of out-of-town contacts who can help your family communicate and find each other. Let them know about your plan and how they can help.

Of course, children are a big concern. If they're in school or day care, they will need to be picked-up. Know their emergency policies and if you can’t pick up the kids, designate someone who can. And talk to your kids about your Plan. Teach them basic personal information so they can identify themselves and who to call, like 9-1-1 to get help.

In our second scenario, you're together at home. In this case, listen to the radio or television for information from local authorities and follow their instructions. They may advise to turn utilities off or on so it’s important to know the location of your home’s water valve, electrical panel, gas valve and floor drain. Make sure everyone also knows the location of your family emergency kit and fire extinguisher.

In our third scenario, you have to evacuate. Everyone should know your home’s safe exits and best places to go. And remember your pets, who may not be allowed in shelters or hotels. Identify kennels or friends' homes where they can go in an emergency.

Elderly family members or those with special needs should also be a part of your plan. List the medications, supplies and info care-givers will need in an evacuation. If they live alone, ask a neighbor to help them evacuate.

Documents will also help. Make copies of birth certificates, passports, wills, and insurance info. These documents, along with photos of family members, should be kept at safe locations like your workplace.

Having a plan is also a part of being a responsible community member. Local authorities will react swiftly, but they can't reach everyone at once. Being prepared allows these responders to help those in urgent need first.

So, do your part! Learn about the emergencies that can happen where you live and plan for situations that are more likely to occur. Take 20 minutes today and prepare your emergency plan.

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This FAQ library was created by Eran Bucai. Eran is an online entrepreneur who is passionate about helping people find success building a profitable business online without the high ticket prices and without the marketing hype.

Eran has a tech support membership which you can learn more about here: DotComTruths.com

Eran helps people choose the best software for their business which you can find out more by visiting EranFunnels.com/software.

Question 6

How do I host videos professionally? (not YouTube)

Accepted Answer

To start with, I want to answer the question of why would you even want professional video hosting?

Typically professional video hosting is applicable when you are setting up a membership site or an online course.

There are software tools that help you with course hosting or membership sites, and some of those provide video hosting along with the service. Example of this is a company like Podia that I personally use, and they provide unlimited video hosting, unlimited courses, and so on, for $39/month.

Another example of this is Kartra, which is an all in one platform for your website, sales funnels, membership site, email marketing and so on. However, this is a classic example of limitations in video hosting. Their cheapest plan is $99/month, but they have a limit of 50 videos total. Their next plan is $199/month, and allows you to have unlimited videos. So it is important to know the pricing and features of whatever software you end up choosing and list out what you actually need.

If you are going to go with a software product like Kartra or Podia, you probably don't need video hosting.

But let's assume you want to set up your website on WordPress or ClickFunnels or EranFunnels. You may want to consider having professional video hosting for your landing page, sales page, webinar page, etc. These services are all great, but the video hosting is simply not included (with the exception of EranFunnels, there's a solution I set up for this exact problem, more on that later).

Professional hosting has hard costs, i.e. the companies who provide this service pay for storage. YouTube is free become it monetizes from advertising, but other companies require paying a subscription. There are a number of companies that provide this service. To name a few along with small input from me about having used them:

Vimeo = Great choice is you want basic video hosting. There are not special features like branding colours for your video play. If you want to see what vimeo looks like, ClickFunnels uses that for their sales pages. Here is an example from the Dot Com Secrets sales page - the video you see there, that's vimeo video hosting.

Wistia = the best choice, but also the most expensive one, a completely over-priced option in fact. It costs $99/month on their smallest plan. It's simply not worth the price in my opinion. Wistia is in fact the company that Podia partnered with. If you pay to Wistia directly, $99/month you get 10 videos limit. If you pay Podia $39/month, you get Wistia video hosting quality for unlimited videos. Makes no sense, but that's why I'm saying there's no point paying Wistia directly. To see an example of Wistia quality video hosting, you can check out a preview of one of my courses.

VooPlayer / Spotlightr = this is a new player in the market but having used their service, it is a good option and a budget option. It was previously called VooPlayer and they either rebranded as Spotlightr or another company bought them - I'm not sure which. Either way, I personally did not like their pricing complexity, there are a lot of variables, and I found the admin office a bit difficult to navigate. However, this is a great option especially if you only want up to 5 videos hosted for example, as at the time of writing this, they have a free plan for up to 5 videos and 1GB limit total. If you want to just host a few videos, it's a good option. Like I said, I'm not a huge fan of their player, but it's a good budget option for professional video hosting.

Vidello = I saved the best for last. This is the one that I personally use. I pay $297/year. Their affiliate program is set up so that buy using an affiliate link, you actually get it cheaper ($22/month). I have a full video tutorial showing the software and the inside.

Since the paid plan let's you have 200 videos, you may not need that much. Because of that, I set up a solution with EranFunnels, so users of EranFunnels can buy video hosting from me directly (hosted by Vidello) for $12/year per video. Usually this makes sense if you only need 1-5 videos. Anything beyond that, you might as well go with the full Vidello plan yourself.

To summarize:

Option 1: Set up your entire tech set up with a company like Podia or Kartra and not have to worry about buying video hosting separately.

If you want to discuss your personal circumstances, feel free to email me directly to support@eranbucai.com

Question 7

What is Phishing Scams?

Accepted Answer

This video is designed to increase awareness of phishing scams and help viewers recognize and avoid phishing emails when they see them. The video includes:

An example of how the scam typically works
How to recognize and report a phishing email
What to do when you receive a phishing email
What to do if you mistakenly divulge information

Video Transcript:

You've probably seen it. You receive an email from your bank or trusted company and it's asking you for information. It looks real, but it's designed to fool you into handing over important information. This is a scam called Phishing, and you need to avoid it.

Most of us have gotten used to doing business online. We buy and sell things. We have accounts with sensitive information. The risk of doing business online is low, as long as you deal directly with organizations you trust. Problems occur when criminals impersonate these organizations, and fool you into handing over sensitive information, like account numbers, passwords, and PIN numbers.

The key to avoiding this scam is awareness. Here's one example. You receive an email that looks like a trustworthy message from a bank. It asks you to click a link to verify information. You assume it's legit. So you click the link and log in to what appears to be your bank's website. At this point, the scam is complete.

They were able to fool you by impersonating the bank's website. There are a few keys to detecting phishing emails. They often try to scare you by saying "your account has been accessed" or "security has been compromised." They also insist that you click a link to verify information or fill out a form.

Do NOT click links or fill out forms in suspicious emails. The email may also have misspellings and call you something like "Valued Customer." The crooks don't know your name! Remember, phishing emails may use the exact same logos, phone numbers, and addresses that appear on your statements or bills.

Always be suspicious of an email that asks for your information. No exceptions! If you receive a phishing email, stay calm. There's no risk in receiving it. Just delete it. You can also safely report it by forwarding it to:

If an email does lead you to a suspicious website, remember to look at the web address. The address in your browser should look familiar. If you suspect that criminals have your information, immediately contact organizations where you have accounts.

To protect yourself in the long run, you might also consider anti-phishing software. Further, check your online accounts and credit reports regularly, and quickly report anything that is out of place.

Phishing scams are a growing threat on the Internet. By being aware of the scam, you can feel confident in working with companies online. Yaay!

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This FAQ library was created by Eran Bucai. Eran is an online entrepreneur who is passionate about helping people find success in building a profitable business online without the high ticket prices and without the marketing hype.

Eran has a tech support membership which you can learn more about here: DotComTruths.com

Eran helps people choose the best software for their business which you can find out more by visiting EranFunnels.com/software.

Question 8

How do you use a domain name?

Accepted Answer

There are 3 things you can use a domain name: (a) create a professional email; (b) create a website; (c) forward to another page, like a social media account. Watch this video to learn more (and transcription provided below too).

While I greatly appreciate the wonderful explainer video created by GoDaddy, I do not recommend them as a company to buy products from. The company I presently recommend to buy domain names and hosting from is called SiteGround.

Transcript from the video (italicized):

*We’re gonna show you three ways that you can use your new domain name.

Did you go with the classic .com, or claim a sly new extension like .guru, either way, your domain name is a powerful little piece of text.

You’ve purchased the perfect domain name ready to put it to work for you. The first way you can use your domain name is to create an email account. Already have an email account?

Most people do. Chances are sometime in past you signed up for a free email account - it was enough for keeping in touch with friends and creating your online dating profile.

But now you’re a grown-up; and you do grown-up stuff, like running your small business. Isn’t time to up your email game? You can use your domain name for a custom email address.

Think about it; if you want your business to stand out from the crowd, which email address is going to get it noticed: the free one you’ve had since college, or the customized one that uses the name of your business.

Using your domain name for your email address not only looks more professional, it’s a great way to promote your business!

Customized email is great, but like most people, you probably got your domain name to create a website for it, which is the second thing you can do with your domain name.

Using your domain name for a website gives you a dedicated, branded space to introduce your business to anyone, anywhere, who can connect to the Internet.

Even better, your website will give your business almost boundless marketing reach. People from Arizona to Zimbabwe will be able to can find you online with just a click of the mouse.

But what happens if you’re so busy running your business that you just can’t find the time to build your website, or even find someone to do it for you.

You might consider forwarding your domain name to somewhere else on the Web, until you get site up and running. This is the third thing you can do with your domain name. Confused? Let me explain.

It’s not uncommon for small businesses just starting out to create a Facebook business page.

If you have a Facebook business page or another social media account on the Internet, you can use your domain name to forward visitors to that page, until your website is up and running.

With forwarding in place, anyone who navigates to your domain name in their browser, will be automatically forwarded to a web page you currently have – like a Facebook business page.

Clever, right?

And there you have it.

With all the power and potential your domain name has, why would you ever let it just sit there and collect dust.

Use it for your email address, a new website, or to forward visitors to an existing website, but put it to work for you now!*

Question 9

What are the benefits of Protecting Reputations Online?

Accepted Answer

This video discusses the long-term risks of sharing inappropriate information on the Web. It encourages viewers to “think before you click” and offers tips for being responsible with photos, video and stories. Points include:

Why photos are permanent on the web
Future consequences of sharing inappropriate info
Tips for protecting reputations (personal and friends)
What to do when inappropriate info is shared

Video Transcript:

In the past, doing something embarrassing wasn't a big deal. It happened, and then people moved on. But now that things can be shared on the Web immediately, those embarrassing moments can last forever and impact your reputation and those of your friends.

Let's talk about what happens on the Web. Search engines are constantly scanning it. Their goal is to take a snapshot of every word, picture and video on the web and save it for search results. This means that once a page has been scanned, it may be there forever. Even if the image is deleted from a site, it may still be found in the future - which is when problems can occur.

Think about it this way. If you share videos of yourself or others doing illegal things, or photos that make people look bad, it could seriously harm their reputations. And sometimes it's hard to tell. What seems like a funny photo today, Yaaay! may look very different to someone who finds it the future - Boooo! By understanding a few things now, you can help avoid problems later.

It starts with what you choose to put on websites. Sharing on the Web can be fun and productive. But it could also cause problems. So, it's up to you to think about the people in the photo or story, including yourself, before you share it. Would you want your grandfather to see this photo? Or a future boss? Once you click, you lose control of who can see the photo on the Web. This means your friends have to depend on you to take responsibility for the images, stories, and videos you share on the Web.

Luckily, you don't have to share everything publicly. Find ways to share your life privately without having it scanned by search engines. And be careful using people's names - names are easy for search engines to scan.

Another step is asking your friends to think about what they share on the Web. Let them know that, from now on, you're going to take responsibility. Talk about the risks and what photos could do in the future. Agree to think before you click. This way, you can act goofy today and still have the respect you deserve tomorrow.

Of course, you can't control everything on the Web. If you feel your reputation is at risk, you can take action. Contact the person who posted it and ask them to remove it - they should understand. Taking action today can make it harder to find in the future.

Sharing your life online can be fun and productive, but it can also mean losing some control. You have a responsibility to help protect your reputation and the reputations of those around you. Think before you click.

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This FAQ library was created by Eran Bucai. Eran is an online entrepreneur who is passionate about helping people find success building a profitable business online without the high ticket prices and without the marketing hype.

Eran has a tech support membership which you can learn more about here: DotComTruths.com

Eran helps people choose the best software for their business which you can find out more by visiting [EranFunnels.com/software.](https://eranfunnels.com/software)

Question 10

What is Saving Money (Compound Interest)?

Accepted Answer

This video introduces the basics of using a bank or credit union to earn money from compound interest. It tells the story of Jasmine, who saves money to buy a home. It teaches:

How money earns interest in banks
Interest rates
How compound interest works over time
Saving for a future goal

Video Transcript:

Take just a minute, and think about the future you'd like to have. To get there, you need to be responsible and save your money so that it grows over time.

Meet Jasmine. She's 20 years old, and her goal is to buy a home in the future. Jasmine is already saving for that future home purchase and recently learned how to save responsibly.

When she was younger, she had a piggy bank and often added money to it. The problem with a piggy bank was that her money just sat there. She got out the same amount she put in.

Instead of using a piggy bank, Jasmine found a way to help her money grow over time by saving it in a bank or credit union, where she can easily get it back when she needs it.

While it's there, the bank uses her money to help other customers who need to borrow money. It's like Jasmine is loaning her money to the bank. Because she's helping the bank, they add a little extra money to her account automatically.

It's these payments from the bank that help her money grow over time. This extra money is called "interest", and it's paid to Jasmine over the course of a year. The amount of interest she earns is based on two things: The amount she has in the bank, and the Annual Percentage Yield or APY, which is a rate set by the bank. Here's how they work together.

Let's say you deposit $100 in a savings account with a 3% APY. That $100 will earn $3 in interest over the course of a year. Now, you could take that $3 in interest and buy a latte. But you decide to leave it in the bank.

This way you have more money in the bank, and earn interest on $103 instead of https://www.dotcomtruths.com/$100. As long as you leave it alone, your money will grow even faster because the interest adds up year after year. It's called "compound interest" and this simple idea will help Jasmine buy a home. Here's how.

In her piggy bank, Jasmine has saved $5,000. But for the home she wants, she knows she'll need more, and realizes that smart saving is all about thinking long term. If she deposits this in a bank, and earn 3% APY, that $5,000 would become $9,000 in 20 years. That's $4,000 more thanks to compound interest. $9,000 is good, but it may not be enough.

To help her money grow even faster, Jasmine decides that she can add $100 to her savings each month. That's $1,200 a year - even more money to earn interest! This will be a huge help. Jasmine can see she's getting close.

With the $5,000 she has saved, plus the money she adds monthly, she can save $29,000 over 20 years, if she saved it in a piggy bank. But with compound interest from her bank, that $29,000 could become over $42,000 in 20 years. A nice start on buying her dream home! All she had to do was add money to her savings regularly, and watch it grow! Yay!

If you're ready to save responsibly, visit a bank or credit union and talk with a financial professional about APYs and savings.

The keys to smart saving are to start today, add money regularly, and watch how compound interest can help your money grow and grow.

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This FAQ library was created by Eran Bucai. Eran is an online entrepreneur who is passionate about helping people find success building a profitable business online without the high ticket prices and without the marketing hype.

Eran has a tech support membership which you can learn more about here: DotComTruths.com

Eran helps people choose the best software for their business which you can find out more by visitingEranFunnels.com/software.