Ways You Can Take Advantage of Higher Interest Rates

By Rachel Puryear

With interest rates rising in order to cool inflation, many people are feeling the pinch. It’s harder and more expensive to get loans, and the economy may also be slowing.

However, the good news is that it’s not all doom and gloom – rising interest rates can also present good financial opportunities that aren’t as good when interest rates are lower.

Here are a few ways you can make higher interest rates work a little in your favor:

Hands stacking wooden blocks in order to symbolize rising interest rates.

It’s a Great Time to Be a Saver

If you’ve got money in a savings account/emergency fund, this is an opportunity to start earning more interest on that account. You might want to shop around to different banks for better rates – and of course, don’t forget to look at great offerings from your local credit unions, too!

Invest in Bonds

Bonds can give you a higher payout when interest rates are higher. Investing in bonds can be a great way to help diversify your portfolio.

It May Be a Good Time to Invest in Stocks, Too

If you’re in a position to invest money in the stock market and leave it there for the long term, doing so while economic conditions are slower and stock prices are down is a great time to do that. Buying low, leaving it there a while, and then selling high later on is a great way to build long term wealth.

Vanguard is an investor-owned company that makes it easy to invest in a diversified portfolio, even for beginners with no background whatsoever in finances. Plus, your hard-earned investments won’t be eaten up with fees and costs here.

Calling Cash Home Buyers

If you have the savings and the desire to purchase a home in cash and have been waiting for cooler market conditions to do so, now could be a great opportunity.

With mortgage interest rates increasing, buyer pools for homes are shrinking. But if you want to buy in cash, that’s not a problem for you.

Therefore, it could be a good time to make a cash offer on a house, as you won’t be competing with nearly as many prospective buyers are you were several months ago.

It Might Be a Good Time to Refinance, Depending on Your Circumstances

Ideally, people want to take out loans and refinance them during periods of low interest rates, not higher ones.

Recent years saw lots of historically low interest rates.

But if you missed that boat and still want to refinance debt that carries high interest rates, now might be a good time to do so, before interest rates go over higher than they are now.


Love this blog, and want to help support it? Please check out the following products to help keep you warm and comfortable as the weather cools down – these adorable outfits are also very easy to move and walk in during all your outdoor activities:

Feel warm, and look hot in these comfortable, stylish, tracksuit outfits with just the right about of stretch – and with lots of pockets! Carry all your stuff without needing to lug a heavy bag along! Suitable for many occasions.


This one comes in sizes up to 3X, has plenty of great colors, and has five pockets – two kangaroo pockets on the hoodie, two side pockets on the pants, and one back pocket on the pants:

Velour tracksuit, with long sleeve hoodie and pants, in olive green.


This one comes in sizes up to 3X, has many bright colors, and has six pockets! Two kangaroo pockets on the hoodie, two side pants pockets, and two back pants pockets:

Velour tracksuit, with long sleeve hoodie and pants, in deep purple with starlight white side stripes.


Want a bolder look, while still feeling comfortable? This one comes in sizes up to 5X! With several amazing colors, with kangaroo pockets on the hoodie as well as side pockets on the pants:

Velour tracksuit, high waisted and empire style, with long sleeve hoodie and pants, in emerald green.


This one comes in sizes up to 24 plus, has several awesome colors, and has four pockets – two kangaroo pockets on the hoodie, and two side pants pockets:

Velour tracksuit, with long sleeve hoodie and pants, in dusty pink.


Love clothes with pockets, and want more suggestions brought to you, so you don’t have to scour the internet yourself? Follow the Facebook page Deep Pockets for more!


Thank you, dear readers, for reading, following, and sharing. Here’s to making the most of the situation.

Got a question you want answered through this blog? Submit your question to me here – and if you don’t already, please request to subscribe to the Free Range Life newsletter while you’re there!

Check out my other blog, too – World Class Hugs, at https://worldclasshugs.com. It’s about better navigating relationships and life as a highly empathic person, and traveling and nature photos.

Note: We are a participant in the Amazon Services LLC Associates Program. As an Amazon associate, we earn from qualifying purchases.

Uncategorized

%d bloggers like this: