Financial experts suggest using cash as a way to save money after the Fed hikes rates again Wednesday which impacts credit card interest rates.
As the Fed hiked rates for a third straight time, financial experts say switching to cash purchases can help keep credit cards under control.There was a third interest rate hike Wednesday, the Federal Reserve raised rates by .75 %.said you may want to start turning to cash, especially when you start thinking about holiday shopping.
Cash allows you to avoid interest on credit cards, which is now at a high of almost 20% for new cards and about 15% for existing accounts. Add to that the fees you could face if you have a late payment.Experts say using cash for gifts also helps you set a better budget. Once there is no more cash, there are not more gifts to be purchased.
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