As Halloween gets closer, you may experience teraphobia (a fear of monsters) at the sight of foot-dragging zombies, talking skeletons, and mumbling Frankensteins.
At other times of the year, you may have to deal with aviophobia (fear of flying), dentaphobia (a fear of dentists), or – in my case – hippopotomonstrosesquipedaliophobia (a fear of long words).
And when it comes to understanding dividends on your credit union accounts, many people come down with a bad case of arithmophobia (a fear of numbers) or its scary cousin, mathemaphobia (a fear of mathematics).
But fear not! SAFE is here to help you tackle your fears!
We recently featured a blog post that explains the difference between Annual Percentage Rate (APR), Annual Percentage Yield (APY), and Annual Percentage Yield Earned (APYE) and what that means for your money.
Now, we’re going to pull the scary mask off the dividend formula so you can see exactly how the power of dividends make your money grow:
Let SAFE help you conquer arithmophobia and mathemaphobia
Now, if your fears got the best of you and you closed your eyes through those formulas, don’t worry – the good people at SAFE Credit Union will take care of all that calculating for you.
So if you’re not already a SAFE member, consider opening a savings or checking account today to see how the power of dividends can work for you.
And if for some reason you think you have chrometophobia (a fear of money), we think watching your money make more money will take care of that fear pretty quick.
Mark Kwasny is a senior communications specialist at SAFE Credit Union. As an ink-slinging wordsmith, he loves creating words and worlds using only the twenty-six letters of the alphabet. Outside of work, he’s a banjo-player wannabe and a keen observer of all things pertaining to life.
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