The good and the not so good

If you didn't know, this week the Federal Reserve cut interest rates for the second time this year. If you did know this bit of news, but you're not entirely sure why it matters, we've got you.

The Federal Reserve meets at least eight times a year to discuss economic conditions and whether interest rates should go up, down or stay the same. It raises rates with the goal of curbing consumer spending (typically when inflation is high), and it lowers them to stimulate it (typically when unemployment is high).

So how will the lower rate make itself known in your everyday life? We explain that, plus what rising rates would do, so you know how to decipher headlines and adjust your budget accordingly.

Find Out More

chart of federal funds effective rate over the years

IN THIS ISSUE

Dear Penny: My Dad Says I Owe Him $400/Month When He Retires

Best Debt Consolidation Loans

Companies That Give You Money When You Ask Nicely

50 Simple Ways to Make Extra Money this Month

The Best Mystery Shopping Companies to Work For

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Dear Penny: My Dad Says I Owe Him $400/Month When He Retires

In this installment of Dear Penny, we tackle an age-old question: How much do we financially owe our parents for raising us?

What Penny Says →

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Best Debt Consolidation Loans

The Fed's decision likely means lower interest rates on consolidation loans, which could help you rein in your debt faster. These are worth checking out.

Pay Off Debt →

Companies That Give You Money When You Ask Nicely

Not all companies are mean — these ones can be generous, especially if you're interested in cutting costs and pulling in extra money.

Just Ask →

50 Simple Ways to Make Extra Money this Month

Find extra cash fast using our mega list of 50 side gigs. There's gotta be at least one money move on this list that will work for you!

Pick Your Gig →

The Best Mystery Shopping Companies to Work For

Many companies rely on mystery shoppers to provide feedback to improve their customer service operations. Why shouldn't it be you?

Ready to Shop →

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