If we had things our way, the world of finance would be a simple and easy place. Unfortunately, there are a lot of things you need to research and consider before making a move with your money. One of those is your interest rate. But wait - there are different sorts of interest rates, and it’s important you get them straightened out when you’re looking for the most competitive deal.
Even if you’ve only dipped a toe into the financial world so far, you’ve probably come across the term ‘variable interest rate’. It’s one of the most popular types of home loan rates and is available on just about any banking product you can think of.
Got a nice rainy day fund built up? It might look even nicer with the effects of compound interest. If you’re wondering how much you’re earning thanks to your compounding interest payments - or how much you might be with the right savings account - then read on for a rundown of how to work it out.