Worried about rising interest rates? Here are 5 things to do today
However, the prospect of what happens after that is troubling. The higher costs will eat into my monthly savings buffer, either delaying my retirement or meaning I retire with less. At some point, it also meant that I had to reduce my standard of living – a position many borrowers have experienced recently. The degree of fear of what is to come is, in fact, the emotional response Lowe expects to elicit in borrowers. But Lowe doesn’t just want us to wallow in fear. He also wants us to take action, reduce non-discretionary spending and tighten our belts as best we can. Collectively, these actions will remove demand from the economy, which will help to curb price pressures. So, here are five things you can do today to help you navigate what’s to come. Remind yourself that it could be worse The good news is that interest rates are only rising because of the underlying forces of our economy. Unemployment is at its lowest in nearly half a century and, as long as you keep your j...