What the Fed Rate cut means for your house, car, and credit cards

In this episode of Financial Advisors Say The Darndest Things, A.B. Ridgeway breaks down the financial quicksand that is credit card debt and shares strategies to regain control of your financial future. With interest rates climbing to as high as 23%, getting out of credit card debt seems harder than ever. But with the right approach, such as leveraging personal loans, improving credit scores, and negotiating with creditors, you can begin to make real progress.

Here’s how to approach it:

3 Key Takeaways:

1. Use a Personal Loan to Escape High-Interest Debt Credit cards can carry overwhelming interest rates, but personal loans often offer much lower rates. Use the loan to pay off your credit cards, then focus on chipping away at the loan itself. This can help avoid paying upwards of 23% in interest fees ...