Borrowing Money? Then You Need To Understand Interest Rates (Video)

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Most of us will borrow money at some point in our lives whether it be via a credit card, student loans or a mortgage.

But what exactly is interest? And does the rate change depending on what you’re borrowing money for?

I answer those questions and more in this 64-second video.

For all of you newcomers who are just joining us, this video is part of a series called #BrokeUniversity where we break down the most important personal finance basics in 90-second videos.

Did you miss the first six #BrokeUniversity classes? Check them out!

• Orientation
• Class #1 – The Easiest Way To Start Budgeting
• Class #2 – What To Do With The Money You Save
• Class #3 – 401(k), IRA, Traditional and Roth
• Class #4 – How The Wealthy Think About Income
• Class #5 – How Taxes Affect Your Paycheck

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