Economist Wayne Winegarden of the Pacific Research Institute says timing major financial moves around the midterm elections can add risk, and recommends focusing on controllable basics. Key steps include building savings, since a CNBC and SurveyMonkey poll found 63% of Americans live paycheck to paycheck, avoiding investment fads after prices have risen, and not trying to time the market. Paying down revolving credit card debt, where the average rate was 22.15% in July according to the Federal Reserve, is a guaranteed way to cut costs. With the average 30-year fixed mortgage rate at 7.03% as of Sept. 24, borrowing costs and whether payments fit your budget may matter more than election timing.
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Original headline: I Asked an Economist : Should I Make Major Financial Moves Before November ?
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