Do Interest Rates Matter?
In short, yes, interest rates do matter. Think about your car loan, or your home loan, or even your savings account. Interest rates have a direct impact on all of these types of loans and financial products.
The word on the street is that the Fed is going to raise the Fed Funds rate at least .25% before the end of the year. There are countless articles that are speculating about what will or won’t happen. My guess is that interest rates will go up before the end of the year, but before you begin to panic, you must know that won’t have a dramatic impact on your budget. However, depending on the types of loans you have, you might feel the interest rate rise a bit.
In this podcast episode, I’m dishing tips on how to make it through the interest rate rise and explaining why you should care.
Shannah Compton Game is a podcast host and CERTIFIED FINANCIAL PLANNER of the top-rated Millennial Money podcast. Millennial Money has over 6-million downloads in 164 countries. Shannah’s years of experience as a skilled Certified Financial Planner have set her on a mission to revolutionize how people think, act, and feel about their finances…and have some fun doing so.