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Posts Tagged ‘Saving’

The Impact of Rising Interest Rates on Finances

The following is a guest blog post:

 

three ways rising interest rates are impacting your personal finances

Over the last year, there has been quite a bit of chatter about the Fed and its intent to raise the interest rate. The current state of the economy seems to the catalyst for the change, but not everyone is convinced an interest rate increase is in their personal best interest.

 

Many consumers are worried that an interest rate hike could negatively impact their financial situation – a natural response to what the media makes out to be a fairly big move away from low, relatively affordable rates. But there’s good news mixed among the gloom and doom of the Fed’s decision.

 

Here’s what you need to know about an interest rate hike.

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Small Savings, Big Impact

Spongebob Patrick,, I have $3 Dollars MemeWe hear sayings all the time. For instance, an apple a day keeps the doctor away. Which implies if you eat healthy, you will keep yourself and body healthy. That is solid childhood advice. However, we can use that same lesson in our finances. So I propose a new saying, “A dollar a day helps our investments pay.” Let me explain.

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