Hello,
As expected, the Feds increased rates again by .75%, so let's relook at what that means to you and how to protect your family moving forward.
So far, the Fed's four hikes in 2022 have increased rates by a combined 2.25 percentage points — which means consumers are now paying an extra $225 in interest on every $10,000 in debt.
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What Moved -
Feds move " short term " rates, which would be your credit cards and equity lines of credit. What most think they moved is long-term debt, which are mortgages, which they can't directly unless they buy or sell mortgage-back securities.
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Why They Moved Them -
They need to do this to slow down inflation, which means they need to slow down the speed at which the economy is growing.
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How Long Do They Plan To Increase -
They will do it as long as inflation in our economy, which I think into Fall or Q3.
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How to protect yourself -
This is where we need to think things out and create a plan for you and your family. Because, until now, most consumers have not felt those rate hikes, but with back-to-back .75% rate hikes, your 10k in credit debt increased 150.00 per month in the last 30 days, and that's about to become a problem.
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The videos I have added show you a Two-Step Plan for turning bad debt into good debt. Plus, the second step is to prepare you if we move into a recession.