Extremely low-interest rates are on their way out. The U.S. Federal Reserve decided to raise interest rates for the first time 2016 and the second time in a decade.The rate will change from 0.50 to 0.75 percent. Feds figure since jobs have increased, people are spending money and the last time rates were increased it helped the economy, this is a good bet. In, fact rates will increase three more times in 2017. So how’s it going to affect you? Any new loan is going to pricier. It’s a smart idea to pay that credit card bill much sooner than later since interest can compound and that means less shoe money.