The fed's latest interest-rate-hike is already changing the math for investors, savers and borrowers.
Getting a mortgage, a car-loan or even a credit-card is more expensive today than it was just a few days ago. Mortgage rates just had their biggest one week jump in 35 years.
Freddie Mac says as of Thursday, the average-rate on a 30 year fixed rate mortgage is at 5.78 percent.
Average monthly payments for new and used cars are now at their highest levels on record according to tracking from Edmunds.
Experts say with rising interest rates you should try to pay down debts as quickly as possible especially if they have a variable-interest-rate.
"There are some things we just can't live without, like food and with gas. If there's one area where perhaps you can have some strength or influence, it's on anything involving credit, like your credit card bills. Your credit card rates are going to be going higher," said Business Journalist, Marc Stewart "If you can take care of that now, do so. It's not something that you want to have linger, especially with the potential of more interest rate hikes to come."
Almost every major 401-k has lost 10 percent or more of its value since the start of the year. Most analysts say to look at what's available, but don't make a major decision based on panic.
"We wouldn't recommend folks look to the market with something like a 12 month time horizon. We want folks who are investing to be able to commit money to the market that they know they can commit for at least three to five years, if not longer. So if you're looking for a short-term place to park your money, definitely a savings account looks more attractive these days as rates start to go up," said Jason Moser with The Motley Fool "It is worth noting, though, that even still with those rates rising, over time that money is still losing value in the savings account because of inflation still at these high levels."
Federal leaders say the goal of the interest rate hike is to stop inflation but that won't happen immediately.
The most generous-projections say inflation might get back to the normal two percent range within the next two years.