Periodical
Smart Borrowing in an Era of Higher Interest Rates.
| Title: | Smart Borrowing in an Era of Higher Interest Rates. |
|---|---|
| Authors: | LANKFORD, KIMBERLY (AUTHOR) |
| Source: | Kiplinger Personal Finance. Feb2024, Vol. 78 Issue 2, p40-46. 6p. 4 Color Photographs. |
| Abstract: | The article discusses strategies for borrowers to lower the cost of their debts in an era of higher interest rates. The Federal Reserve has raised interest rates multiple times since March 2022, which has made debt more expensive for borrowers. However, there are still opportunities to reduce interest rates on debts, such as credit cards, car loans, and student loans. The article provides tips for paying off high-interest credit card debt, finding low-rate options for car loans, and reassessing payment options for student loans. Additionally, it suggests discussing options with lenders for variable-rate home equity lines of credit and considering alternative ways to use the funds. [Extracted from the article] |
| Subject Terms: | *Interest rates, *Student loans, *Home equity loans, *Student loan debt, *Automobile loans, *Credit cards, *Capital costs |
| Company/Entity: | Board of Governors of the Federal Reserve System (U.S.) |
| Copyright of Kiplinger Personal Finance is the property of Future Publishing Ltd. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.) | |
| ISSN: | 15289729 |
| Database: | Business Source Complete |
| Full text is not displayed to guests. | Login for full access. |
Availability