Smart Borrowing in an Era of Higher Interest Rates.

The article discusses strategies for borrowers to lower the cost of their debts in an era of higher interest rates. The Federal Reserve has raised interest rates multiple times since March 2022, which has made debt more expensive for borrowers. However, there are still opportunities to reduce interest rates on debts, such as credit cards, car loans, and student loans. The article provides tips for paying off high-interest credit card debt, finding low-rate options for car loans, and reassessing payment options for student loans. Additionally, it suggests discussing options with lenders for variable-rate home equity lines of credit and considering alternative ways to use the funds. [Extracted from the article]