Surviving Rising Interest Rates

Interest rates are on the rise. We’ve been in an environment of rising rates since 2004 and all indicators are that the Federal Reserve is ready to boost them again. The current environment of rising rates can play havoc with the average family’s budget. Here are some suggestions for keeping the impact to a minimum: 1. Take stock of any debt you have that has a variable interest rate. A variable interest rate is any rate that isn’t fixed, and therefore fluctuates over time. Examples include variable rate mortgages, home equity lines of credit, and credit cards. The interest rates … Continue reading

Look Around: How is the Economy Doing?

Sometimes, in order to gauge the state of the economy, you just have to look around. I check the news reports often, and am intrigued by reports about trends that will affect how my family spends and saves. For example, when there were problems with the peanut crop, I made sure to stock up on peanut butter, a staple in my household. I also like to look around at what is happening locally, in my neighborhood and community. Houses seem to be selling better than they have in a long time, and this is good. Fewer abandoned properties and homes … Continue reading