Rising interest rates are making it more difficult to borrow money. With a mortgage and other types of loans becoming more expensive, consumers need to stretch their dollars and learn ways to adjust to the changing economy. But rising rates can also help consumers achieve their debt-free goals sooner. By using rising rates to their advantage, it may be possible to reach those budget and financial goals sooner.

Don’t let this holiday season take you off track from your financial goals. With the talk of an upcoming recession taking hold in all financial sectors, it’s easy to become anxious about your future. Take these steps to help you stay on top of this shopping season and continue to meet your debt-free goals. Don’t forget to reach out to your financial advisor or debt consolidation company if you need guidance.

Today’s ability to compare banks, whether brick and mortar or virtual, allows the consumer to better take advantage of incentives and bonuses being offered. By utilizing these advances you can now move your funds into multiple savings accounts and avoid placing “all your eggs in one basket.” This allows the consumer to better manage savings goals, control spending, and avoid unnecessary banking fees to help them reach financial goals more quickly.