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    An interest rate cut is coming. Here’s what to do with your money beforehand.

    • August 11, 2024
    • admin
    1. Pay Off High-Interest Debt: If you find that you have more disposable income with the lowered costs of borrowing, take this opportunity to pay down high-interest debt, such as credit cards or personal loans. 2. Refinance Your Mortgage: With interest rates decreasing, you could save money by refinancing your mortgage. You may be able to get a lower interest rate on your loan, lower your monthly payment, or switch rate structures. 3. Open a High-Yield Savings Account: While the returns will decrease slightly once the cut is effective, high-yield savings accounts will still give you much more than a traditional savings account. 4. Look Into CDs and Bonds: Fixed-rate savings assets like CDs (Certificates of Deposit) or bonds could be a good move right before a rate cut. They will lock in the current rate for the term of the asset, thus allowing you to enjoy the higher rate for longer. 5. Invest In The Stock Market: Lower interest rates can make shares and equity-based funds more appealing, since businesses will have lower costs and potentially higher profits. But remember, the stock market is always a risk. 6. Rebalance Your Portfolio: Check in with your financial advisor to make sure your investment portfolio is balanced and aligns with your financial objectives. 7. Strengthen Your Emergency Fund: If you currently have extra cash and low debt, adding to your emergency fund could be a smart move. Having a safety net can help in the future if times get
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