From an indulgence for avocado toast and artisan coffees to towering amounts of student loan and credit card debt, millennials do not have a stellar reputation for financial acumen and investing.

Beyond these stereotypes though, millennials are actually starting to come to terms with the tougher economic times that they are forced to deal with. Delaying home ownership and relying on ride sharing apps are just a couple of the many examples of millennials making smart decisions for themselves and their futures while still aspiring towards financial freedom.

However, investing is one of the main areas where millennials are still having a hard time coming to grips with financial realities.

Related:Living Fast & Saving Hard: The New Millennial Mindset

Saving money and learning how to make it work for you, so you don’t have to, are essential to getting ahead in the modern world, but millennials are woefully ill-informed about the world of investing.

Here are the top 3 reasons that millennials should start caring about investing and looking out for their futures today.

Time Is On Your Side

The earlier you start investing, the less you’ll need to save in the long run for the same outcomes.

There are a number of advantages that millennials have in investing as a result of their youth and the long time horizon that they will be investing over if they wise up and get started earlier.

First there is the magic of compound interest. Compound interest doesn’t add up to much over a few years, but over a few decades at a steady return, such as the US S&P 500 index, compound interest will pay off many times over, turning even small contributions into a major payday.

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