Glossary
Short definitions for subscription billing and deposit-account terms.
Recurring charge
A recurring charge is a fee that bills again on a schedule, such as every month or every year, until you cancel. The calculator adds the monthly size of each charge you enter.
Billing cycle
A billing cycle is the period between two charges. A monthly cycle bills about every 30 days. A yearly cycle bills once and covers twelve months. Cancelling in the middle of a cycle usually stops the next charge, not the one that already posted.
Free trial
A free trial is a period with no charge, or a reduced charge, that switches to the regular price unless you cancel first. Write the end date down the day you start. A reminder helps only if it arrives before the renewal.
High-yield savings account
A high-yield savings account is a deposit account that usually pays more interest than a standard savings account. Rates change and differ by bank. This definition does not recommend a bank.
APY
APY is the annual percentage yield: the interest a deposit account would pay over a year if the stated rate stayed the same and interest compounded. It is not a promise. The rate you receive can change.
For general information only. This is not financial, investment, insurance, tax or legal advice. Please check official sources or a qualified professional for your situation.