Interest rates have been in the news a lot recently. How does a change in interest rates you? From students to homeowners, everyone can feel an impact. Gene covers the basics in this short episode about interest rates and debt!
0:48– What interest rate headlines really mean
0:57– Total debt in the US just crossed $30 Trillion
1:22– Feds are THINKING of raising interest rates 4x in 2022
2:46– Interest is an earning tool, not just an outgoing liability
3:25– You are legally obligated to repay the money you borrow
3:36– 4 money choices make up 96% of household debt in America
6:35– How Interest Rates Impact YOU
7:50– There is no MAXIMUM payment
8:15– 4 interest rate increases do not mean a 4% increase.
8:40– Interest rate increases affect 1 year from now
9:30– Understand what will trigger increases
9:55–Debt is a tool . . .If used correctly.
Members of the Troutwood team are fact checking and asking questions behind the scenes in every episode.
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ABOUT Troutwood 👇
Troutwood provides investment and financial content that helps to remove the fear of finance and replace it with knowledge and confidence. Retirement in America is changing from employer directed to employee directed. Our objective is to help prepare individuals for this change. To help people learn to invest with understanding.
This channel allows us to share our passion for personal finance, the stock market, financial literacy, education, investing, and financial planning.
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