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Episode 21 - Money Diaries #1 What Are Interest Rates and How Do They Work

Welcome to our first episode of Money Diaries, a segment where we break down our listeners’ money concerns and provide you with the skills and resources to help you overcome your money problems. Today’s money diary is from one of our Listeners, Andrea. Andrea is having difficulty understanding interest rates, despite knowing it is a simple concept for some. She opened up a savings account where she is saving for her first house deposit. She thought she was getting the best rate for her savings, however her calculations were wrong and now she feels unsure, confused, and disheartened with the process. Come join Giulia and Amie as we break down the barriers and Jargon of interest rates.
 
Interest rate definition 
High Interest Savings Account Comparison Tool 
Home Loan Comparison Tool NAB’s Home Loan Repayment’s Calculator 

For more content join Amie & Giulia on Instagram, or on Tiktok, or Twitter and join us in conversation on Facebook group Equity Gals. If you have any questions for the show, please email us at hello@equitygals.com.

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