Make Friend with Time: Compound Effect

Albert Einstein once said Compound Rate was the eighth wonder of the world. Then how can we take advantage of the exponential curve and the compound effect?

One important application is in investment. S&P 500 stock index fund is the most recommended investment by Warren Buffett. The compounded return of the S&P 500 Index is 10% for the last 50 years, and 8% for the last 10 years.

But someone might ask what if I am not interested in investment. Can I utilize the compound effect in other areas? I say, Anything and Everything.