What’s your interest rate? We all have them, be it from a car loan, a home loan, and the dreaded, absolutely insane….CREDIT card. We have school loans, rates of deposit….in my case, I had a loan from my mother, and yes, whenever my brother or I borrowed from her, it was at the rate of her local bank branch (yes, my mother passed away as a very wealthy woman, this was just another reason why, haha)….

I know many people are drowning under debt right now, and it may seem overwhelming. In fact, it may BE overwhelming. (Sorry, but it’s my son Nathen’s new word of choice….”don’t be overwhelmed Dad…”). Like everything else I have been writing about——take a deep breath, relax, and take a slow, deliberate look at each piece of credit or debt you are holding, and just see if there is anything you can do about it. Believe me, if you are at all qualified, lenders are DYING for your business right now….there is NOTHING wrong with saying, “can we do a little better on that rate” to a credit card company, a home loan, or a car loan. I even heard from one reader who had her student loan fixed by CALLING THE COMPANY……

These are times for people to be smart. And as amazing as that may seem to some, that might take 5 minutes of your time to actually take care of stuff. My personal home loan refinance is going down to 3.1 percent…that’s basically free money——buying a tax-free bond at 4 percent with the money I owe on my house gets me 1)the tax deduction for my interest, and 2)extra income from it to pay the house taxes. Is it a hassle? Well, it’s more of a hassle than doing NOTHING…it’s also saving me 700 DOLLARS A MONTH…..ummm, that’s worth a few minutes of my time for sure. 

And please please please, if you are in any sort of trouble…..PAY DOWN THAT 19 PERCENT CREDIT CARD FIRST. And then, if you have to ——- RIP THAT DIRTY LITTLE THING UP——tell yourself and your friends (let’s call them “enablers’, haha) that you don’t have one anymore……..

I worry about people. That’s why I’m doing this. TAKE CARE OF YOUR INTEREST RATES. Simple as that……Interesting, huh?

WG