interest explained

What Is Compound Interest: Why I Wish I Learned This at 18

by
compound interest growth

The very first time I truly understood what compound interest was was at 28 years old. Only at 28 was I able to calculate what impact time in the market had on money in the market. If I had started investing at 18, I would have $187,000 more to play with in retirement. Here’s why … Read more

What is APR: Didn’t Understand It and Paid $1,847 in Interest

by
apr interest rate explanation illustration

I got my first credit card at age 22 and had absolutely no idea what “24.99% APR” meant. I didn’t care either; I just wanted the card so I could shop and build credit history. Interest rates seemed like something I would worry about later. Spoiler alert: “later” came quickly, and it turned out to … Read more