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Federal Reserve Raises Interest Rates

Remember how a few months ago I explained on this blog the joys that come from the Federal Reserve? They pretty much regulate the country’s economy and set interest rates on mortgages, credit cards, student loans, insurance policies…

Well, ladies and gentlemen, on June 15, 2017, the Fed decided to regale us with raised interest rates… for the second time, in three months.

There are very few things we can do when Washington makes unilateral decisions that affect our pockets. However, we do have some control over how much we choose to pay for certain life necessities.

How can you save money?

For example, did you know that you aren’t always required to have flood insurance? I know, I know, we live in Florida. Considering we’re surrounded by water, you could make the argument that not having such insurance would be irresponsible. But the reality is that it’s only practical to have it if you live in a high-risk flood zone, as designated by FEMA’s rate maps. If you don’t live in such a zone (or if FEMA incorrectly zoned you, or the zone is outdated), you can opt out of having to pay for flood insurance under certain circumstances.

How can you find out for sure? National Flood Experts (NFE) will come to your house and conduct a free (yes, free) evaluation. If you do reside in a high-risk flood zone, then review your policies to ensure that you are properly covered (especially now that we’re on hurricane season). But if you’re one of the lucky ones who lives in a low-risk area, you can get rezoned (NFE can do that for you) and even get some of the monies you’ve already paid during the past year refunded. Contact us to find out how we can help you. You’ll be glad you did.

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