The Weekly 101 - by Money Crashers (12/29/22)

Welcome to this week's edition of your Money Crasher Minute [MoneyCrashers Logo] Having trouble viewing this email? [Click here]( [Weekly Hero Image](#) Each week, we give you a quick lesson on a financial topic, share some of our favorite tips and insights, and sum up the latest articles on Money Crashers. [Kelly Ernst headshot] Kelly Ernst Managing Editor Mini-Lesson: APR vs. APY If you’ve ever applied for a credit card, taken out a loan, or used any number of other financial products, you’ve likely come across the terms APR and APY. Both acronyms are ways to understand interest rates. Which one you use depends on the product. Annual percentage rate (APR) tells you how much interest you’ll pay on a loan or credit card. The lower the APR, the less you’ll pay for the money you borrow. Annual percentage yield (APY) tells you how much interest you’ll earn on an investment in a year, including [compounding](. The higher the APY, the better your rate of return. Learn more about the [difference between APR and APY here](. ---------------------------------------------------------------  Living Like a Money Crasher The new year is right around the corner! Here are the money resolutions our team is making for 2023. [Andrew headshot.jpeg]I want to save and invest more in [interest-bearing accounts]( than in past years. Taking advantage of the power of compound interest will be more important than ever in an inflationary economic environment. — Andrew Schrage, CEO & Co-Founder [Gyutae headshot.jpeg]In the new year, I’d like to start using up more of my [credit card points]( stockpile, especially for travel rewards. Sometimes, it can be more fun to earn than to redeem! — Gyutae Park, CTO & Co-Founder  [Michael headshot.jpeg]Unfortunately, now that my young children have proven to be college-worthy, I've opened two 529 accounts — $5,000 tax-deductible contributions per child per year (in Connecticut) eases the pain of paying for college. — Michael Pruser, COO [Sean pic.jpeg]I want to do a better job comparison-shopping for some of my fixed monthly expenses — making sure I'm paying the best possible price for things like my homeowners and car insurance as well as negotiating the price of my cellphone and cable services. — Sean Bryant, VP, Affiliate Marketing [Kelly Ernst headshot]One of my biggest budget downfalls is eating out — I’m a sucker for a quick pad thai when I’m feeling too lazy to cook dinner. I want to be better about keeping my pantry stocked and meal-prepping on the weekends to avoid giving Grubhub so much of my money. — Kelly Ernst, Managing Editor [Brian headshot.jpeg]I'll finally get a handle on which content streaming services I actively subscribe to and their monthly cost. That'll help me fine-tune our budget — and save a couple of dollars per month by setting up autopay with a [credit card that rewards streaming purchases]( — Brian Martucci, Finance Editor [Heather headshot.jpeg]The bank I'm with has been embroiled in scandal after scandal, but it's a lot of work to change all your payment info with various utilities and services, so I've been putting it off. And with the holidays, I haven’t had time. But in 2023, that's going to change. — Heather Barnett, Editor [Jonathon headshot.jpeg]I'm going to contribute to a Roth IRA this year. It's an account that allows me to save money for retirement and pay no taxes on my capital gains, as the income I put in is already after-tax. I plan to make the maximum contribution of $6,000 this year. — Jonathan Watterson, Head of SEO & Analytics  ---------------------------------------------------------------  10 Most Popular Articles of 2022 These are the articles you clicked on the most this year. You're clearly looking for the best products to manage your money! Which ones can you take advantage of in 2023? - [25 Best New Bank Account Promotions & Offers for December 2022]( - [16 Best Paycheck Advance Apps to Help You Make It to Payday]( - [15 Best Bank Accounts for Kids Under 18 (Checking & Savings) – Rates for 2022]( - [10 Best Banks With the Highest-Interest CD Rates in 2022]( - [8 Financial Accounts to Open for Your Child to Create Lifelong Wealth]( - [10 Best Free Checking Accounts in December 2022]( - [13 Best Cash-Back Credit Cards of December 2022]( - [5 Best Business Bank Account Promotions & Offers of December 2022]( - [12 Best Small-Business Credit Cards – Reviews & Comparison]( - [Is Your Money Safe in a Bank During a Recession?](  ---------------------------------------------------------------  We Want to Hear From You! This newsletter is for you. We’d love to hear your thoughts, questions, and feedback on how we can make it better. Just reply to this email. We won’t be able to answer everyone individually, but you could help shape the content of future newsletters.  < [Twitter Logo]( [Facebook Logo]( [Instagram Logo]( [Pinterest Logo]( Sent to: {EMAIL} [Unsubscribe]( Money Crashers, LLC, 1887 Whitney Mesa Dr #3030, Henderson, NV 89014, United States