Jan 11th, 2009
Low Interest Rates: Taking Advantage
Interest rates being low is the bane of savers who like to put dollars away into money market, certificate of deposit, or high yield savings accounts. With the low interest rate environment we currently have, there’s not a lot of places for folks who like safe investments to make more than (or even equal to) the rate of inflation.
There are, however, some times when a low interest rate environment is favorable. When? Mostly when you have debt. I’ve blogged a couple of times about my quest to get the mortgage refinanced at 4.25% (which is not yet completed but work continues). Interestingly, however, I would be perfectly okay with the mortgage staying at 5.875% where it currently is; it’s a decent rate historically.
If a debt, however, is at higher levels and unlike a mortgage or student loans does not have tax deductible interest (think auto loans, personal loans, and credit cards), it’s really time to think about how to take advantage of the low interest rate environment and make it work to your advantage.
Low interest rates have their advantages; if you’re in a position where you can use them to your advantage, go for it! It’ll make your financial life much easier.
Carnival of Debt Reduction- We’re Hosting Again This Week…!…
Carnival of Debt Reduction- BankruptcyAccess.com is guest hosting again today!
This is the 2nd of 2 carnivals we are hosting today.
See the other carnival for more links.
Regardless, Enjoy these links:
1st..this HILARIOUS video from Christian Financial…
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