A fuller guide to this term is on the way. In the meantime, the related terms below explain the ideas around it.
Related Brickyard terms
- InterestThe money a bank pays you for keeping deposits, or the money you pay a lender for borrowing, calculated as a percentage of the balance.
- Savings AccountA bank account meant for storing money you don't need right away, usually paying a small amount of interest on the balance.
- High-Yield Savings AccountA savings account that pays a much higher interest rate than a standard one, often offered by online banks with lower overhead.
- Certificate of Deposit (CD)A savings product where you lock money away for a fixed term in exchange for a set interest rate, paying a penalty if you withdraw early.
- Compound InterestInterest that earns interest — the engine behind long-term growth.
- APR (Annual Percentage Rate)The yearly cost of borrowing money on a loan or credit card, stated as a percentage that includes interest and certain fees.
Turn this into a brick
Knowing what APY (Annual Percentage Yield) means is knowledge — the first half. A brick gets placed when you act on it.
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Plain-English education — not personalized legal, tax, or investment advice.