Consumers National Bank’s Post

Understanding Interest Rates and Your Financial Situation When discussing bank accounts, investments, loans, and mortgages, it is important to understand the concept of interest rates. Interest is the price you pay for the temporary use of someone else’s funds; an interest rate is the percentage of a borrowed amount that is attributable to interest. Whether you are a lender, a borrower, or both, carefully consider how interest rates may affect your financial decisions. https://lnkd.in/euYB8TtF

Understanding Interest Rates and Your Financial Situation When discussing bank accounts, investments, loans, and mortgages, it is important to understand the concept of interest rates. Interest is the price you pay for the temporary use of someone else’s funds; an interest rate is the percentage of a borrowed amount that is attributable to interest. Whether you are a lender, a borrower, or both, carefully consider how interest rates may affect your financial decisions. https://lnkd.in/e4eQdNEa

Understanding Interest Rates and Your Financial Situation When discussing bank accounts, investments, loans, and mortgages, it is important to understand the concept of interest rates. Interest is the price you pay for the temporary use of someone else’s funds; an interest rate is the percentage of a borrowed amount that is attributable to interest. Whether you are a lender, a borrower, or both, carefully consider how interest rates may affect your financial decisions. https://lnkd.in/eE8MkPke

Understanding Interest Rates and Your Financial Situation When discussing bank accounts, investments, loans, and mortgages, it is important to understand the concept of interest rates. Interest is the price you pay for the temporary use of someone else’s funds; an interest rate is the percentage of a borrowed amount that is attributable to interest. Whether you are a lender, a borrower, or both, carefully consider how interest rates may affect your financial decisions. https://lnkd.in/evyYaHTs

Understanding credit is key! 💡 From personal loans to credit cards, mortgages, and everything in between—each type of credit serves a unique purpose. 📊💳🏠 Ready to boost your financial know-how? Let’s break it down! Link in the comments below👇#credit101 #financialliteracy

Understanding Interest Rates and Your Financial Situation When discussing bank accounts, investments, loans, and mortgages, it is important to understand the concept of interest rates. Interest is the price you pay for the temporary use of someone else’s funds; an interest rate is the percentage of a borrowed amount that is attributable to interest. Whether you are a lender, a borrower, or both, carefully consider how interest rates may affect your financial decisions. https://lnkd.in/eCsT-YbM

Understanding Interest Rates and Your Financial Situation When discussing bank accounts, investments, loans, and mortgages, it is important to understand the concept of interest rates. Interest is the price you pay for the temporary use of someone else’s funds; an interest rate is the percentage of a borrowed amount that is attributable to interest. Whether you are a lender, a borrower, or both, carefully consider how interest rates may affect your financial decisions. https://lnkd.in/eFs7aGSX

Understanding Interest Rates and Your Financial Situation When discussing bank accounts, investments, loans, and mortgages, it is important to understand the concept of interest rates. Interest is the price you pay for the temporary use of someone else’s funds; an interest rate is the percentage of a borrowed amount that is attributable to interest. Whether you are a lender, a borrower, or both, carefully consider how interest rates may affect your financial decisions. https://lnkd.in/e3cqFASB

APR, short for Annual Percentage Rate, is a critical financial term that every borrower should understand. It's the annual interest rate you pay on loans, whether it's for your dream home or credit card purchases. 🏡💳 By law, lenders are required to be transparent about APR, disclosing it before you sign any agreement. This empowers you to make informed choices and compare rates. Regulated by the Truth in Lending Act, APR is calculated by considering the periodic rate, compounding periods, and fees. And remember, lenders must provide this rate three days before finalizing a loan. Have questions about APR or need guidance on your financial journey? Reach out to me today - I'm happy to help! #ottenheimergroup #bairdwarner #residentialrealestate #commercialrealestate #chicagolandrealestate #glenviewrealtor #bairdwarnerglenview #chicagolandrealtor #chicagolandrealestateagent #APRExplained #FinancialWisdom #EmpowerYourself

Understanding Interest Rates and Your Financial Situation When discussing bank accounts, investments, loans, and mortgages, it is important to understand the concept of interest rates. Interest is the price you pay for the temporary use of someone else’s funds; an interest rate is the percentage of a borrowed amount that is attributable to interest. Whether you are a lender, a borrower, or both, carefully consider how interest rates may affect your financial decisions. https://lnkd.in/eWn5sNjZ