Lifestyle
How the Interest Rate Hike is Impacting Personal Loan Borrowers
Last Updated on November 15, 2024 by Daily News Staff
NEW YORK (Newswire.com) – Credello: To combat inflation, the Federal Reserve (“The Fed”) has raised its benchmark interest rates to levels not seen since the Great Recession. While these hikes are great for savings accounts and CDs, those considering getting a new personal loan are experiencing sticker shock at the new rates.
I already have a personal loan, is my interest rate increasing?
It depends on the type of loan you have.
Most unsecured loans that are already active and fixed-rate will not incur any interest rate changes. This goes for personal loans, consolidation loans, signature loans, etc. However, missing payments or defaulting on a signature loan or other unsecured loan could make you incur new interest rates as a penalty for the duration of the loan or until you’re back in good standing. Check your loan’s terms and conditions for details on what you should expect if you fall behind on payments.
Secured, fixed-rate loans like mortgages also shouldn’t see any change to their interest rates. Again, this is only if you stay in good standing with the lender so it’s critical you know the terms you’ve agreed to for your loan regarding when you could expect a change in your rate.
Variable-rate loans, both secured and unsecured, are loans that have fluctuating rates based on The Fed’s benchmark rate. These are the loans that will most likely be affected by the increases made by The Fed.
How can I tell what type of loan I have?
Knowing the type of loan you have is critical for determining not only how much you’ll pay in interest but how your loan is affected by market conditions. The easiest way to determine which type of personal loan you have, or are applying for, is to check the terms. However, there are a few quick ways to determine which loan you have (or could get):
1. Do you have to put any collateral up to get the loan? These are considered secured loans. The most popular types of secured loans are auto loans and mortgages. Unsecured loans don’t require any kind of collateral and are often what you’ll see for personal loans, signature loans, etc.
However, don’t group all unsecured loans together as there are some significant differences between signature loans and personal loans you need to be aware of before applying.
2. Do you only see one interest rate listed? Typically, this means your loan is (or will be) a fixed-rate loan. However, check to see if there are any asterisks or fine print that specifies whether this could change.
3. Is it a credit card? Credit cards are unsecured, variable-rate ways to borrow money and will be affected by Fed rate hikes. There are some secured credit cards, too, and are also variable-rate.
A few tips to avoid interest rate increases
1. Look for promotional consolidation offers. Many lenders offer promotional rates that last for a limited time. Consolidating your debt into one loan can lower your interest rate, too.
2. Shop around. Rates can vary significantly from lender to lender, so compare rates before settling on a plan.
3. Make a payment plan. If you’re not able to pay off your entire balance each month, making payments on time will help keep your interest rate lower and extend the life of your loan.
4. Pay more than your minimum payment every month. Even an additional $5 payment will help you avoid getting hit with higher rates that take longer to pay off.
The bottom line
Knowing your personal loan type and interest rate is key in determining how your loan will be affected by The Fed’s interest rate hikes. Stay up to date on the terms of your loan to ensure you’re not hit with unforeseen penalties or rates.
About Credello
Credello is a financial tech company offering a personal finance tool that simplifies financial decisions through personalized, on-demand recommendations — so users can borrow, save, or invest with confidence. Credello believes that finding the right financial product should be as easy and interactive as online shopping, and we are on a mission to make that possible. For more information, please visit https://www.credello.com.
Source: Credello
Our Lifestyle section on STM Daily News is a hub of inspiration and practical information, offering a range of articles that touch on various aspects of daily life. From tips on family finances to guides for maintaining health and wellness, we strive to empower our readers with knowledge and resources to enhance their lifestyles. Whether you’re seeking outdoor activity ideas, fashion trends, or travel recommendations, our lifestyle section has got you covered. Visit us today at https://stmdailynews.com/category/lifestyle/ and embark on a journey of discovery and self-improvement.
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holidays
5 Ways to Make the Holidays Simply Wonderful
Make the Holidays Simply Wonderful: There’s no magic quite like the holidays through the eyes of a child. The season brings countless special moments and opportunities to make lifelong memories, from enjoying tasty holiday treats to exploring traditions with the family. Infuse your festive moments with some extra magic this season with these family-friendly tips.
Last Updated on December 19, 2025 by Daily News Staff
5 Ways to Make the Holidays Simply Wonderful
(Family Features) There’s no magic quite like the holidays through the eyes of a child. The season brings countless special moments and opportunities to make lifelong memories, from enjoying tasty holiday treats to exploring traditions with the family. Infuse your festive moments with some extra magic this season with these family-friendly tips from the experts at Kinder Chocolate, who aim to spark, share and celebrate simply wonderful moments of togetherness between parents and children. Decorate Together Letting your family’s creativity soar is a terrific way to bond and nurture kids’ development. Let them take an active role in bringing festive energy to the household and allow them to make some design decisions, such as stringing lights and choosing the perfect place for ornaments or seasonal decor. You can also create a personalized wreath for each member of the family to display or decorate custom stockings.
Enjoy Magical Treats From candy canes to gingerbread houses and beyond, candy and other edible goodies are integral to the holiday season. This year, make treat time extra special with an option like limited-edition Kinder Chocolate bar x The Elf on the Shelf packs. These special packs feature the beloved Scout Elf character in single, share and mini sizes. Each pack also includes one of eight collectible cards with a special QR code that unlocks “Let’s Story!” – a unique, co-created digital storytelling experience via Ferrero’s free Applaydu app that lets parents and kids build personalized adventures together. Partake in Holiday Traditions ’Tis the season for traditions and creating your own makes celebrating together each year even sweeter. You might make trimming the tree a family affair, encouraging kids to try their hand at decorating or involving everyone to help clean up before a cozy family meal. Many families also make volunteering together an important part of their holiday experience, reinforcing messages about kindness and caring for all ages. Look at Holiday Lights Bringing the family together for special holiday experiences doesn’t have to be grand. In fact, a simple road trip through your hometown to find the most awe-inspiring light displays can bring plenty of fun. You may even find local light shows that synchronize to radio music in your car. Make it an extra exciting family outing by bringing along some hot cocoa and treats like Kinder Chocolate for the car ride. Organize a Family Movie Night Bring the vibrance of the big screen to your living room with an at-home family movie night. For a special touch, consider investing in a low-cost projector that creates a theater-like experience on any wall in your house. Choose a favorite family-friendly holiday movie (or two), some popcorn and treats then settle in for an entertaining evening together. Pick up the limited-edition packs at local retailers, and discover more free, family-friendly ideas to last all season long at elfontheshelf.com/blog. Photo courtesy of Shutterstock (mother and daughter hanging ornaments) Our Lifestyle section on STM Daily News is a hub of inspiration and practical information, offering a range of articles that touch on various aspects of daily life. From tips on family finances to guides for maintaining health and wellness, we strive to empower our readers with knowledge and resources to enhance their lifestyles. Whether you’re seeking outdoor activity ideas, fashion trends, or travel recommendations, our lifestyle section has got you covered. Visit us today at https://stmdailynews.com/category/lifestyle/ and embark on a journey of discovery and self-improvement
STM Daily News is a multifaceted podcast that explores a wide range of topics, from life and consumer issues to the latest in food and beverage trends. Our discussions dive into the realms of science, covering everything from space and Earth to nature, artificial intelligence, and astronomy. We also celebrate the amateur sports scene, highlighting local athletes and events, including our special segment on senior Pickleball, where we report on the latest happenings in this exciting community. With our diverse content, STM Daily News aims to inform, entertain, and engage listeners, providing a comprehensive look at the issues that matter most in our daily lives. https://stories-this-moment.castos.com/
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Stories of Change
The Holiday Spirit Matters But So Does What Happens After
The Holiday Spirit: Holiday generosity is powerful, but community needs don’t end when the decorations come down. Learn practical ways to give back year round—volunteering, donating, sharing skills, and supporting causes you believe in—with help from United Way.
The Holiday Spirit Matters — Why Giving Back Should Last All Year
(Family Features) During the holiday season, many people feel a renewed sense of generosity. It’s a time when communities come alive with food drives, toy collections, volunteer events and donation campaigns – all fueled by the spirit of giving. While this seasonal energy can be powerful, the need it responds to doesn’t fade when the decorations come down. Giving back is not only essential during the holidays; it’s also the foundation of stronger, more resilient communities year round. People in nearly every community face challenges – whether it’s affording holiday presents or meeting basic needs like food, rent and utilities. For many families, current economic strains are forcing them to make tough decisions like sacrificing necessities or depleting savings to create moments of holiday joy.
This is a time to rally support and help neighbors in need. Right now, many community members who didn’t previously need help are seeking support. Acts of generosity large and small help close gaps and strengthen communities. When individuals and businesses give their time, resources and talent, they can help ensure everyone has a fair chance to not only survive but thrive. Communities rely on nonprofit organizations like United Way – one of the oldest and largest organizations committed to tackling local challenges and mobilizing communities to improve lives. With a presence in nearly 99% of communities across the U.S., the organization recognizes the power of giving and relies on seasonal and year-round generosity to deliver food and housing assistance, youth programs, mental health support, disaster recovery and more. This holiday season and beyond, to assist your community consider taking actions such as: Volunteering Offering your time is one way to make a real change in your community while helping build a more resilient future for all. What’s more, research shows the personal benefits of volunteering, such as reduced feelings of isolation, loneliness and risk of depression. Whether it’s a community event, ongoing support or in-person activities, making a difference for others feels good. Donating Sharing your financial resources can play a vital role in helping communities thrive. Your donation can help put food on the table for families in need, support kids who are struggling or provide mental health services to the most vulnerable individuals. Remember, your gift of any size combines with the gifts of others and builds stronger, more resilient communities. Sharing Expertise or Talent Generosity can take many forms. Making a difference isn’t just about time and money; it can also mean sharing skills or knowledge, and even social networks to bolster charitable efforts. Giving back builds a shared sense of responsibility. It reminds people that strong communities don’t happen by accident – they’re created through connection, compassion and collective action. Supporting Causes You Believe In Every community faces their own unique, pressing challenges and almost everyone has a cause that’s close to their hearts. Identify organizations working to advance those causes and make a plan to support them. Find opportunities to support your community this holiday season and make generosity a year-round tradition at unitedway.org/local. Nourishing Our Heroes: Eight Years of Impact at Phoenix VA’s Veggies for VeteransLink: https://stmdailynews.com/nourishing-our-heroes-eight-years-of-impact-at-phoenix-vas-veggies-for-veterans/
Stories of Change: People Making a Difference
Discover inspiring stories of changemakers making a positive impact. Explore videos and articles of people tackling today’s biggest challenges with action and hope. Visit: https://stmdailynews.com/stories-of-change/
STM Daily News is a multifaceted podcast that explores a wide range of topics, from life and consumer issues to the latest in food and beverage trends. Our discussions dive into the realms of science, covering everything from space and Earth to nature, artificial intelligence, and astronomy. We also celebrate the amateur sports scene, highlighting local athletes and events, including our special segment on senior Pickleball, where we report on the latest happenings in this exciting community. With our diverse content, STM Daily News aims to inform, entertain, and engage listeners, providing a comprehensive look at the issues that matter most in our daily lives. https://stories-this-moment.castos.com/
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Last Updated on December 18, 2025 by Daily News Staff
Keeping Pets Safe This Holiday Season: 5 Festive Safety Tips for Pet Owners
(Family Features) The holiday season brings sparkling lights, cherished traditions and joyful gatherings with the people and pets you love most. As you deck the halls and prepare for cozy celebrations, it’s important to remember some of the magic of the season can also pose risks for curious cats and dogs. To provide pet owners added peace of mind, consider these tips from the experts at VCA Animal Hospitals, a leader in veterinary care with more than 1,000 locations dedicated to positively impacting pets, people and the communities they serve, to keep the holidays merry – and safe – for everyone. Decorations and Festive Outfits From family photos to holiday cards, many pet owners love including their companions in the festivities. If you dress your pet for pictures, choose outfits that are comfortable, allow easy movement and don’t interfere with breathing or vision. Pets are naturally drawn to shiny and dangling decor, so opt for shatterproof ornaments and avoid using tinsel, which can cause serious internal issues if swallowed. Hang small or salt-dough ornaments high on the tree, out of paws’ reach, to help prevent choking. After opening gifts, promptly discard wrapping paper, string and ribbon; items that may seem fun to play with but can be dangerous if ingested.
Food and Drinks Holiday tables overflow with delicious treats, but many seasonal foods can be harmful to pets. Chocolate, grapes, raisins, xylitol-sweetened candies and leftover meat scraps may lead to serious illness. Politely remind guests not to slip your pet any treats, no matter how festive the occasion feels. Quickly pack away food when meals end to help reduce temptation. Alcoholic beverages should also be kept well out of reach. Pets absorb alcohol much faster than humans, and even small amounts can cause alcohol poisoning. Candles and Burns The glow of candles and warm fireplaces add comfort and charm this time of year, but open flames pose fire risks and burn hazards for pets. Keep pets at a safe distance from fireplaces, wood stoves and space heaters, as curiosity can bring them too close. Consider using battery-operated candles in place of traditional ones. If you use real candles, ensure they’re placed out of reach and never left unattended; even stepping away for a moment can increase the risk of accidents. Plants and Trees Holiday greenery brings beauty to your home, but some plants require extra caution around pets. While Christmas trees themselves are generally non-toxic, the water in the tree stand may contain mold, bacteria or fertilizers. Use a tree skirt or cover to prevent pets from drinking from it. Decorative plants like poinsettias, mistletoe, lilies, holly and amaryllis can cause gastrointestinal upset if nibbled on. Keep these seasonal favorites well out of reach, especially if you live with adventurous or plant-curious pets. Cold Weather Walking Winter walks can be refreshing for you and your dog, but shorter days and colder weather mean extra care is needed. Use a non-retractable leash during early morning or evening walks, and ensure both you and your pet wear high-visibility gear so drivers and others can easily spot you.
If you live in an area with snow or ice, monitor conditions closely and watch the wind chill. Dressing your dog in a warm sweater or jacket and offering booties for paw protection can help them stay comfortable and safe on frosty outings. By taking a few thoughtful precautions, you can help ensure your pets enjoy a safe, joyful holiday season right alongside the rest of the family. If you have questions about winter safety or your pet’s health, consult your veterinarian. For more tips to keep your pet safe this holiday season, and to find a location near you, visit vcaholiday.com. Photos courtesy of Shutterstock Keeping Pets Safe This Holiday Season: 5 Festive Safety Tips for Pet Owners
SOURCE: VCA Animal HospitalsThe fate of Lucky Supermarkets in SoCalLink: https://stmdailynews.com/the-fate-of-lucky-supermarkets-in-socal/
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