With interest rates on the rise, everyone’s finances are feeling the pinch. So, how do you juggle the increased cost that interest rate hikes cause?

One of the best things you can do is reduce your variable interest rate debt. Variable interest rate debt is from loans or lenders where your interest rate changes with the market. A prime example of a variable interest rate debt would be credit cards. When interest rates go up, your credit card interest rate increases as well, adding to your debt. In fact, credit card interest rates are currently at their highest since 1996. By eliminating credit card debt during this time, you can save yourself a lot of money and stress.

An effective way to pay off your credit card debt is through a personal loan with a fixed interest rate from Heights. The first thing you’ll need to do is take stock of all your credit card debt so you know exactly how much you owe. Once you’ve done that, visit Heights Finance and ask about getting a fixed rate personal loan to pay off your credit card debt. A friendly team member will walk you through the steps of applying for a personal loan. You can then use your personal loan to pay off your variable rate debt. Then, schedule your easy monthly payments through Heights. These payments will be at a new, fixed interest rate, saving you money in the long run. Knowing exactly what your payments will be every month will also make it easier for you to budget.

With a few adjustments, you can tackle the rising interest rates head-on. By converting your variable rate debt into a fixed interest loan, you avoid the cost of increased interest rates, making your payments more predictable and manageable.

At Heights, we provide quick and easy personal loans to get you the money you need fast. Plus, all of our loans are fixed rate, so you always know what your payments will be up front. So, take it easy and let Heights help you. Find your friendly, local branch or contact us today to get started.