Tagged With "rates"

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Re: The Fed just cut rates!

Moore Income ·
I just saw that! It's a bit disappointing! I just signed up for a mobile app because they were paying 2.25% interest. I just received an email informing me they are dropping it to 2% and I haven't even put any money in there yet. I probably won't be using their service as I already have other ones that are paying me 2%.
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Fed cut rates again! Anyone taking advantage?

Theodora ·
Penny Hoarders, are any of you modifying your personal finance strategies to take advantage of this additional rate cut?
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The Fed just cut rates!

Theodora ·
Anyone planning on changing their savings or borrowing strategies based on the change?
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Re: Fed cut rates again! Anyone taking advantage?

Moore Income ·
I was not aware of this until I just read this but it is interesting to see them cutting it for a third time this year. I need to do some more research to understand it better but maybe you would have a little more insight. What are some areas of our personal finances that are directly impacted by federal interest cuts?
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Re: Fed cut rates again! Anyone taking advantage?

Mexpensive ·
Well I thought that Savings accounts and other areas where you earn interest those rates are reduced. On the other hand I think that the interest rates on some loans would be lower, but not on credit cards. (sadly).
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Re: Fed cut rates again! Anyone taking advantage?

D Varma ·
Yep
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Re: Fed cut rates again! Anyone taking advantage?

Theodora ·
Good time to do home improvements with an HLOC!
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Re: Fed cut rates again! Anyone taking advantage?

E Allen ·
Credit cards usually go down with prime. We are only talking .25%. Savings are mostly back under 2% now. So, for me I think its a time for me to save less and buy assets that dont depreciate as fast as the dollar.
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Re: Fed cut rates again! Anyone taking advantage?

sthom ·
One thing I will be doing pronto is asking my credit cards to lower my interest rates in light of the latest interest cut. I read an article (maybe CNBC's website, not sure) yesterday that advised not to wait on the companies to automatically cut your rates, ask for it. So, that's on my list of things to do this week.
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Re: Fed cut rates again! Anyone taking advantage?

Moore Income ·
@sthom That is smart! I hadn't thought about that but that could really help some people out. @E Allen I have been listing to some Rich Dad podcasts lately and he is constantly saying it is basically futile to save money with the current interest rates. Because while saving money and earning a small amount of interest, you are losing more than that to inflation. I am personally considering investing in some gold and silver.
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Re: Fed cut rates again! Anyone taking advantage?

Stef Genius ·
The rate cut affects short term debt such as home equity lines of credit , credit cards , and auto loans. P.S. The rates are estimated to continue to lower throughout the next year.....
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