#24: Interest: Why am I paying so much in interest?
In this episode, we are going to walk you through what interest is and how (more importantly) it impacts you.
We discuss:
- Simple Interest
- Compound Interest
- Variable Interest
- Fixed Interest
and what the Annual Interest Rate (APR) is.
Interest can cost us thousands of dollars, and is very sneaky. It is not advertised in lights or BOLD print. It is buried in the fine print because if you knew how much you would be paying, that would be the biggest deterrent for the purchase!
Listen in on this lesson. I hope it will save you thousands of dollars!
Links mentioned:
https://www.calculator.net/credit-card-calculator.html
https://myratecompass.ca/credit-cards/
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