Many of us wish our savings accounts saw the same high interest rates that helped our grandparents’ accounts thrive.
While interest rates may remain low for the forseeable future, thankfully, with the current low interest rates there are financial avenues where your money can achieve a better rate of return.
If you’re working on paying down debt, most creditors will allow you to add money to your payment, which makes the rates work in your favor. Lower interest rates can also increase a bank’s capacity to lend. If you’re a small business owner, lower interest rates can make financing capital purchases for businesses more affordable!