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6 Ways Interest Rate Increases May Affect Your Personal Finances

The Federal Reserve is continuing to raise interest rates to combat inflation. It’s raised rates more times already than it has in 28 years. You would think then that as inflation eases, it would make expense management a bit easier for consumers. However, as rates rise, so too does the cost of borrowing money – with everything from home loans to credit cards – continuing to go up. Here are some areas you might want to keep an eye on in your finances, according to GoBankingRates.

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