In this sad state of affairs that we now see ourselves in because of Coronavirus, we will not comment on the health concerns except to say, please be safe and careful.

But while our Government tries to find ways to safeguard our US Economy, The Federal Reserve has lowered short term interest rates to nearly 0 percent.

This will no doubt have a trickle down effect on long term interest rates as well.

So, how do you dare save money in Banking accounts? At 0 percent interest?

What should you do to make your money healthier,  while yourself quarantined?

Mortgages
Mortgages normally follow 30 year bonds. One year ago , they were 25% higher . Thus, refinancing your home now can save you at least 25%

Student Loans
Student Loans normally follow 10 year bonds.  One year ago,the interest rate was down 70%. So now would be best time to go back to school

Credit Card Debt
While credit card companies have their own interest rate ceiling, normally at 18% or better, consolidating your debt, even at say a 6% plan , for example could save you over 65%.

Investing
Think your favorite pair of shoes or sneakers at $75. If they were at $50, would you buy another pair at 33% off? Would you buy two pairs? Exactly!

Well , stocks normally work the same way, so , make sure you get credentialed advice, but seriously consider moving into the market now, especially at 0 percent bank rate interest!.

Professor Anthony Rivieccio, MBA PFA, is the founder and CEO of The Financial Advisors Group, celebrating its 24th year as a fee-only financial planning firm specializing in solving one’s financial problems. Mr. Rivieccio, a recognized financial expert since 1986, has been featured by many national and local media including: Kiplinger’s Personal Finance, The New York Post, News 12 The Bronx, Bloomberg News Radio, BronxNet Television, the Norwood News, The West Side Manhattan Gazette, Labor Press Magazine, Financial Planning Magazine, WINS 1010 Radio, The Co-Op City News, The Bronx News, thisisthebronX.info and The Bronx Chronicle. Mr.  Rivieccio also pens a financial article called “Money Talk”. Anthony is also currently an Adjunct Professor of Business, Finance & Accounting for both, City University of New York & Monroe College, a Private University. You can reach Anthony at 347.575.5045.