Boy does everyone get excited when the Federal Reserve starts to trim the short-term interest rates. In our debt ridden society, it is no surprise this news feels like money in the pocket to many. Still, there is a negative side most don’t immediately think of. When interest rates drop, it affects both the borrowing and the saving rates. Therefore, while your debt may get cheaper, your ability to increase your savings will get harder. Finding a savings account that will pay you more than 2.5 percent currently is difficult. At 2.5 percent, it is impossible to get ahead as … Continue reading →