• Home
  • Products
    • 111 Ways to Save
    • Thrive in Five: Take Charge of Your Finances In 5 Minutes A Day
    • Cash, Credit, and Your Finances: The Teen Years
  • Resources
  • Speaker Info
    • Adult
    • School Age
    • Speaking Engagements
  • About Jill Russo Foster
  • Press/Media Kit
    • Full Media Kit
    • Bio
    • Photos
    • TV Appearances
    • Print Appearances
    • Radio / Podcast Appearances
    • Speaking Engagements
    • Press Releases
  • Contact Jill

Jill Russo Foster

Tips for Successful Personal Finances

  • Events
  • Every Day Finances
    • Banking
    • Budget Planning
    • Family Finances
    • Personal Finance
    • Reducing Expenses
    • Shopping Tips
    • Teenagers and Money
  • Protecting Your Home
    • Disaster Preparedness
    • Energy Efficiency
  • Tax Tips
    • Charitable Giving
  • Manage Your Credit & Identity
    • Debt Management
    • Mortgage Tips
    • Get Great Credit
      • Loans
      • Credit Card Act of 2009
      • Credit Management
      • Credit Report
      • Credit Report Reminder
    • Identity Theft & Fraud
      • Identity Theft
      • Fraud Alert
  • Organization & Planning
    • Organizing Your Space
    • Organizing Your Time
    • Vacation Planning
      • Travel Tips
    • Plan for the Future
      • Financial Goals
      • Marriage and Finances
      • Retirement Planning

With Interest Rates Rising, You Might Want To Consider …..

Welcome to 2019!

I hope you had a great holiday and are looking forward to another year beginning.

2018 was a challenging year.  The Federal reserve raised interests rates four times – yikes!  The stock market lost all of it’s gains for the year.  What does that mean to you? Rising interest can mean larger monthly payments.  Stock market loses could mean less money for retirement.  Let’s talk about what rising interest rates means to your wallet.

Mortgages / Home Equity Lines

Do you have a fixed or variable interest rate on your mortgage?  If you have a variable rate, that could mean your interest rate could go up.  For an adjustable rate first mortgages, they typically change at a certain point (see you mortgage documents), but most home equity lines of credit change as interest rates change.  High interest rates means larger payment is due.  This might be the time to modify to refinance to a fixed rate.

Credit Cards

Most credit cards typically have variable interest rates.  High interest means a larger minimum payment is due.  If you carry a balance from month to month, you may want to transfer your debt to a zero or lower interest rate credit card while you are paying down your debt.

You never know what is going to happen, so you need to be prepared for whatever life throws at you.  Be proactive and your debt paid off, so that interest rate hikes won’t hurt your finances.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  • Facebook
  • LinkedIn
  • Pinterest
  • Twitter
  • YouTube

Contact Jill:

Email: Jill@JillRussoFoster.com or use this form.

Looking for something?

Follow Jill Russo Foster’s board Money on Pinterest.

Copyright © 2023 Jill Russo Foster