Right Now Is a Terrible Time to Spend Money

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Right Now Is a Terrible Time to Spend Money
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With prices and interest rates high, this is a moment to focus on saving

Prices remain high for much of what we buy, even as inflation has slowed. Stingily saving money, meanwhile, is a more profitable activity than it has been in recent memory.

Since the Federal Reserve raised interest rates to a two-decade high, any dollar spent today is a lost opportunity to earn. High rates also make it significantly more expensive for people to spend money they don’t have, with the annual interest rate on some credit cards pushing 30%.This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law.

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