3 debts you should watch as the Federal Reserve raises interest rates

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You could get a shock on your credit card statements after rates rise, when your annual percentage rate jumps two or three percentage points.

As such, that debt will cost you more, and you will want to adjust your monthly budget to accommodate that, Jenkin said. Or better yet, pay down those debts before rates go up.

And don’t forget to look at how these moves could affect your investments.

“Typically, as interest rates rise, your equity or stock investments will start to slow down,” Jenkin said. “You should think about this when you look at rebalancing your portfolio.”



Source : CNBC