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Fed leaves rates unchanged. But here are changes you can make to earn more on savings or pay less on debt

The Federal Reserve has decided to keep interest rates unchanged, but there are still several strategies individuals can employ to either increase their savings returns or reduce their debt costs. For savers, the article suggests looking into high-yield savings accounts, which currently offer rates around 5% or more, significantly higher than traditional savings accounts. Another option is to invest in certificates of deposit (CDs) or money market accounts, which also provide better yields. On the debt side, the article recommends considering balance transfer credit cards that offer 0% introductory APR periods to manage or pay down existing credit card debt without accruing additional interest. Additionally, refinancing student loans or mortgages could lead to lower interest rates, reducing monthly payments or the total interest paid over time. The article also advises on the importance of reviewing and possibly consolidating debts to simplify finances and potentially secure lower rates.

Read the Full CNN Article at:
[ https://www.msn.com/en-us/money/personalfinance/fed-leaves-rates-unchanged-but-here-are-changes-you-can-make-to-earn-more-on-savings-or-pay-less-on-debt/ar-AA1BgeXf ]