How often can I check my credit score?
See the Answer »Do I really need renter’s insurance?
See the Answer »I just lost my job. What are my health care options?
See the Answer »I’ve heard about investment risk. What does this mean?
See the Answer »How many credit cards should I own?
See the Answer »How many credit cards can I cancel in a year?
See the Answer »I’m scared of identity theft. What can I do?
See the Answer »Can I reestablish good credit after identity theft?
See the Answer »What do I need to know before I take out a loan?
See the Answer »How much money should be in my emergency fund?
See the Answer »Can homeowners insurance cover things outside my home?
See the Answer »How do I lower the financial risk of unexpected situations?
See the Answer »Why should I create a will? I'm only 25...
See the Answer »What is a net worth statement?
See the Answer »How do I get started investing?
See the Answer »Why are some of my paychecks for different amounts?
See the Answer »What is a bonus, exactly?
See the Answer »How does my employer take out deductions?
See the Answer »How long will it take before I receive my first paycheck?
See the Answer »What are all the deductions on my paycheck?
See the Answer »What bank fees are reasonable to pay?
See the Answer »Do I need a checking and a savings account?
See the Answer »I’m switching jobs. Can I still get my 401(k) out?
See the Answer »What percentage of my money should I save each year?
See the Answer »Is it better for me if interest rates are up or down?
See the Answer »What's the difference between an IRA and a 401(k)?
See the Answer »Do the charge cards I get at stores count as real credit cards?
See the Answer »How do I estimate my income tax rate?
See the Answer »How many savings accounts can I have?
See the Answer »How is a credit union different from a regular bank?
See the Answer »Why should I save for retirement now?
See the Answer »What’s a good credit score?
See the Answer »What sources can I borrow money from?
See the Answer »What’s a credit score?
See the Answer »How long will missed payments affect my credit?
See the Answer »Which insurance options are important for me?
See the Answer »What’s good debt and what’s bad debt?
See the Answer »How much should I spend on housing?
See the Answer »What global impact does my spending have?
See the Answer »How do I budget for the holidays?
See the Answer »Where should I save money?
See the Answer »I hear a lot about wants vs. needs. What does this mean?
See the Answer »What does ‘live within my means’ really mean?
See the Answer »How do allowances work on a Form W-4?
See the Answer »I want to retire at 50. How do I make this happen?
See the Answer »What is a budget?
See the Answer »What is a cash flow statement?
See the Answer »How much money should I have before I can give to charity?
See the Answer »If I need to tap my retirement fund now can I do it?
See the Answer »What should I save for?
See the Answer »How do I best track my spending?
See the Answer »What's the difference between gross and net pay?
See the Answer »When should I start saving for my child's education?
See the Answer »Is it a good idea to pay off credit card bills with savings?
See the Answer »How does the Federal Reserve affect me?
See the Answer »
Save
Q: Is it better for me if interest rates are up or down?
It depends on your current goals. When interest rates are down, the interest rates on mortgages and other loans are much lower, making it a good time to buy or refinance a home or make other large purchases. However, when interest rates are low, the interest paid on savings accounts and CDs is low. If you're trying to save a lot of money or if you have CDs reaching maturity that you want to renew, lower interest rates work against you. There are positives and negatives to both high and low rates and the benefit to you depends on what your financial needs are at the current time.
About NYSE Money Sense
A credible resource for basic financial education to help people better understand and manage their personal finances.