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