When it comes to interest rates, not all percentages are created equal. In this episode, we break down the difference between APR (Annual Percentage Rate) and APY (Annual Percentage Yield)—two terms that may sound similar but can drastically affect how much you pay (or earn) over time.

We’ll explore:

• Why lenders advertise APR while banks flaunt APY
• How compounding frequency changes your bottom line
• Real examples from high-yield savings accounts and credit cards
• How daily vs monthly compounding adds up over time
• What’s actually included in APR (hint: it’s more than just the interest)
• Why understanding these terms is key to smarter borrowing and investing

Whether you're saving, borrowing, or just trying to get the most from your money, knowing the true cost or benefit of interest can help you make better financial decisions.

Tune in to learn how a few percentage points—and a little compounding—can make a big difference!

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Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .

You can learn more about Elisa at her website or follow her on social media.

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