Here’s how small business owners can manage their finances as interest rates go up | Gene Marks

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How can small business owners manage their finances as interest rates rise? genemarks shares advice from experts.

, where — thanks to the 2021 American Rescue Plan Act — more than half a billion dollars is being made available over the coming months to businesses in Pennsylvania, New Jersey and Delaware by the federal government through local lenders and community organizations.Interest rate increases will drive up your cost of borrowing. But there is a silver lining: the potential to increase your income if you manage your money wisely. Savings account rates aren’t significantly rising just yet,.

“The 3-month U.S. Treasury ended the week at 3.35% — levels we haven’t seen in nearly 15 years,” says Haugen. “With inflation well above those levels, those are still negative real returns. However, with banks and money market funds paying, effectively, 0%, the ability to buy a short-term Treasury ladder and hold the bonds to maturity is looking pretty attractive.”

market may reach “new lows this year” and investors ought to be “slow to purchase many stocks except the best of the best.”we should all be doing our best to manage it better. receiving on our money. I’m advising my clients to try and take advantage of any supplier discounts for early payment, as oftentimes these discounts may earn more than the interest a bank is paying.

 

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