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Simply put, higher interest rates mean that it'll cost more to borrow.
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When we first began our journey we paid off all high interest debt FIRST to save money. This is known as the Avalanche Method and you can swipe right for the description of it.
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Many of our cards and personal loan had interest rates exceeding 25% so THEY HAD TO GO!
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Have you seen an increase in your payments yet?
You're invited! Open house with FREE tacos at 15280 Weeks Dr in La Mirada, CA. Tacos served at Saturday's Open House. Ask for Rana!
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#interestrates - Last week the United States Federal Reserve continued their incremental increase of the interest rate by a quarter of a percent, bumping the rate up to 2.25 percent. While not featured on the below chart, Indonesia hiked their interest rate by a quarter of a percent Friday as well. Over the course of the past month central banks around the globe have steadily raised interest rates.
The European Union and China’s interest rate has remained unchanged for all of 2018, while Turkey’s interest rate has jumped by over 6 percent to combat rising inflation and international repercussions from a dip in U.S.-Turkish diplomatic relations.
“Money and women are the most sought after and the least known about of any two things we have.”
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