If you thought that getting out of debt was something that you could put off until tomorrow or never, it may be time to rethink that strategy. It is anticipated that the Fed will raise interest rates today and that will mean higher rates on credit for a lot of people and especially on credit cards.
The last time that the Fed raised rates back in Dec 2016 that added about $18 to payments and if they do the same today that could mean a total of a $36 in increases on each debt in about six months and this is probably not the last increase this year.
I say all this to say that credit and debt is not getting any cheaper. How many hits can you afford to take and stay on course? Just as I was getting ready to record this episode a couple of friends, after hearing about the proposed increase, asked me to put together a credit and debt webinar because they are finally ready to admit that they need help. I told them I would be willing to do that if at least 10 people signed up. I would do a free webinar with fast track strategies to help them get out of debt. Now I haven’t had time to set anything up but if this is something you would be interested in shoot me an email at email@example.com and also include any specific questions you have. If I get the 10 people, I will schedule it around July 1st and I will record it if you can’t attend.
Debt is taking over and it’s time to fight back. Don’t forget if you are ready to tackle this head-on send me an email at firstname.lastname@example.org and include your top questions and I’ll answer them during the webinar.
And, that’s the minute for today.
Thanks for listening and as always remember that minding your money really is the path to a richer life!