Affect is a verb (Housing bubbles affect so much of the economy), and effect is a noun (The effect of the housing bubbles is so much). My poor formula to remember that effect is a noun: Remember the term "after-effect"
Actually, the noun one can be a verb, roughly meaning "cause" or "produce". Thus the XKCD grammar-nazi trap "Did this effect (cause) the situation?"
Unfortunately, I can never remember which one is usually a noun. I just think "affect starts with an 'a', which is a noun, but I'm always wrong so it must be a verb".
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Off topic, but I think you'll appreciate this:
Affect is a verb (Housing bubbles affect so much of the economy), and effect is a noun (The effect of the housing bubbles is so much). My poor formula to remember that effect is a noun: Remember the term "after-effect"
Actually, either word is both a noun and a verb.
Actually, the noun one can be a verb, roughly meaning "cause" or "produce". Thus the XKCD grammar-nazi trap "Did this effect (cause) the situation?"
Unfortunately, I can never remember which one is usually a noun. I just think "affect starts with an 'a', which is a noun, but I'm always wrong so it must be a verb".