Everyone is talking about the economy these days. We’ve got an “economic stimulus package” coming our way, the Fed dropped rates, and pundits are screaming, “A recession is coming! Hide!”
I guess I’ll throw in my two cents (BTW–what are two cents really worth nowadays? Probably not worth much more than a bag of hot air. But then again…on a day when it’s -3 F, I’d say that’s worthwhile. heh.).
I like Punny Money’s awesome plan–$300 Target gift cards for everyone! Lol.
As for us, we’ll put at least $1,000 into our emergency savings account. Gotta beef it up–especially if a big long bear of a recession is heading our way. The remaining $200 or so will go toward things we’ve been planning to buy, but have been putting off. What that will be come June, who knows.
With interest rates dropping (and possibly dropping more soon), now is a great time to consider refinancing your mortgage or other loans. Hmm. We have no mortgage, but we do have a car loan. We’ll see if it drops enough to be worth refinancing.
Also, if you haven’t already called your credit card company to ask for a better interest rate, now is a great time to do that.
This article spotlights some ways the rate cuts will help certain people, and hurt others.
It’s kind of a bummer that interest rates on savings accounts are dropping.
But ya know what? It’s OK. They’ll go back up. The economy will be booming once again. And then it won’t. And then it will. And then it won’t. It’s a cyclical thing–and as long as we remember that, spend and save wisely no matter the economy–we’ll be just fine.
What do you think about all of this? What will you do with your tax rebate? Are you going to refinance anything?