As of this writing mortgage rates are over 8% for a 30-year fixed, and over 7% for a 15 year.
Auto loans range from over 5% to over 14% based on credit scores.
Money market rates from major banks range in the 4.3% range.
So, I am thrilled that I was able to lock in a 5,5% on a money market, even if for only 6 months. I am expecting inflation to continue, and I can continue with this type of rate for a while. Granted it is nowhere near the 12% rates under Carter with Hyperinflation. But far better than they were paying two years ago.
I miss the days of GE Interest Plus, it was a proper place to sock away funds at a better than market average, until they went bust.
But watch your rates and do what you can to make your money work for you as you work for it.
Interest earnings are not only for the rich, but there are also always ways to cut spending and nudge up savings even slightly.