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high. they raised the benchmark interest rate for the fourth time. that means higher payments on your mortgage, credit card, cars, student loan. on the plus side, in theory, your cd or money market account might start paying actual interest if, if you shop around. markets across the world. big losses in the u.s. swiss central banks raising rates again to tackle inflation. on wall street, stock index futures right now looking like they re going to have another down day after a dramatic selloff on revised recession fears. the dow lost 765 points. s&p 500 down 2.5%. the tech heavy nasdaq, bad day down more than 3%. central banks on both sides of the atlantic warning the inflation fight is far from over. u.s. retail sales fell sharply at the start of the holiday shopping season. mortgage rates fell for the fifth week in a row.
condition is to spend more money, right? we get more, we want to spend more. what we re saying is hey, you need to be saving money right now. there is a little incentive because of the interest rates. make a little more in the money market account. we want you to prepare for a storm. so we want to cut, cut, cut. we see part-time jobs at an all-time high where people can go out and add 15 hours a week if they have to to make up for the inflationary costs, gas and groceries. energy costs expected to be really high this winter. we tell people batten down the hatches and prepare for a storm. everybody is saying 2023 might bring a recession. no credit cards. outside spending. let s get control of our spending habits and here is what we know. you heard dave talk about financial things for years. when we see people show up in our studio and do a debt-free screen, i can tell you they aren t worried about inflation.