The Fed has been raising interest rates, and they’re threatening to do it again. That’s good news for people with money in the bond market, but bad news for stock investors and one other group that’s benefited from the low interest rates. We’re talking about folks with credit cards. Interest rates on those accounts will likely be going up in the coming months. Today, Rob West and Steve Moore will share four rules for avoiding high credit card interest rates. Next, they answer your questions at (800) 525-7000 and questions@moneywise.org about the following:
- If you have plenty of money saved up and a pension coming in and are debating whether you should rent or pay repairs on a possible new house, how do you decide?
- With as unreliable as the markets seem to be, how much you be contributing to your 401(k)?
- If your boyfriend just graduated from college, still lives with his mom who paid his tuition and thinks he should pay a more rent than his siblings, is she right in asking this?
- If you're debt free except for the mortgage on a rental property and looking at long-term options for paying off the house and saving for college for my children, is a 529 plan a good idea?
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