We all know go-go lending is partially to blame for our current state of economy – on the flip side, many smart people advise us that taking advantage of today’s incredible interest rates and borrowing may in fact help ease the country of it’s state. So why lend? Well, unless you’ve been hiding under a rock, you’ve probably heard that interest rates are at an all time low. And many experts suggest those of us with good-to-excellent credit scores and not a lot of debt (and obviously in the position to buy) in fact should.
Let’s say you’re ready to spend, what should you consider? Marcia Passos Duffy from Bankrate.com provides her list on a blog from earlier this year: buy a home or rental property, refinance your current home, buy a car, review your investments, and of course pay off your credit card debt. These are all goals many of our savers try to achieve each and every day. Perhaps you’ve been socking away money for months and months now with SmartyPig. Does it feel like a good time to buy? The interest rates say it might be.
While this isn’t the plan for everyone, it may be a great suggestion for you and your hard earned SmartyPig goals!
Wishing you successful saving.
Sarah Foss, SmartyPig’s Media Mad Woman