Housing Cost Analysis Part 1: Mortgages and Interest

There are many articles describing rent vs buy comparison, as well as calculators that give you “rent is better” vs “buy is better” given certain inputs. However, in my opinion, the best way to analyze anything, is to first understand the basics, then analyze it without using calculators and tools you don’t understand. I will …

What’s the difference between APR and APY?

Savings accounts, loans, and various financial products will often express interest rate as APR or APY. They are very similar but describe subtly different things. APR APR stands for Annual Percentage Rate. This is the interest rate that is applied directly to the money. How often the interest is calculated, daily, weekly, monthly, or whatever …