As June comes to a close and July draws near, you may be considering ways to improve your finances. That's especially true if you're dealing with high interest debts like credit cards and personal loans. After all, the federal funds rate has remained at a 23-year high since late July 2023. And that means those with variable-rate debts may have been dealing with elevated minimum payments for almost a full year. But, this July, it may be time to act.
In fact, some financial institutions have already begun bringing consumer rates down. As a result, you may have access to loans you can use to consolidate your current high interest rate debts at a lower rate. And, doing so could lead to a meaningful reduction in the cost of your debts.
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