How Do Interest Rates Influence Your Money?

What happens to your money when interest rates go up or down? Join Mary Beth and Neela as they dive into the complex world of interest rates and the different ways they can impact your finances – from mortgages and savings accounts, to credit cards and business loans. They explore how the Federal Reserve's adjustments influence both the economy and individual financial decisions, and offer some historical context – such as the period following the 2008 financial crisis – to highlight how those lessons can still apply today.  Tune in for practical advice on how to navigate a changing interest rate environment, whether you're planning to buy a home, looking to refinance, or simply trying to manage your finances more effectively. For additional resources, information, and a full transcript of the episode, visit our website. To access our podcast disclosure information, visit this page.   What You'll Learn in this Episode: Why interest rates matter, and why you should care about them. The effects interest rate fluctuations can have on saving, borrowing, and business. How different types of debt, such as credit cards and mortgages, are impacted by interest rate changes. Strategic considerations for homebuyers and business owners.   Resources Mentioned on the Show: A Timeline of the Fed's '22–'23 Rate Hikes & What Caused Them – TheStreet.com | April 12, 2024 How the Federal Reserve Affects Mortgage Rates – Nerdwallet.com  |  March 19, 2025 What's the Average Car Payment Per Month? – Nerdwallet.com | March 7, 2025   Stay Connected: Connect with Mary Beth on Instagram and on LinkedIn  Connect with Neela on Instagram and LinkedIn Subscribe to the If Money Were Easy newsletter and on the new YouTube channel Join the Abacus community by connecting with us on Facebook, Instagram and on LinkedIn