Rising prices due to tariffs may leave you feeling uneasy. Consider re-evaluating your budget and finding ways to increase income. Personal loans could be an option to help beat price hikes on the horizon. Lowering interest rates through debt consolidation could save you thousands over time.

The average credit card interest rate is around 20%, while personal loans average as low as 12%. Even a 1% difference could result in significant savings. Debt consolidation involves taking out a personal loan to pay off credit card balances at a lower interest rate.

Consolidating debt could free up money to build an emergency fund. A larger emergency fund can provide a safety net in case of increased expenses or job loss. Stockpiling goods due to potential price hikes may not be advisable, but using a personal loan for essential items could save you money.

While personal loans offer benefits, assess your financial situation first. If your credit score is low, you may not qualify for significantly lower interest rates. Be realistic about your financial habits and assess whether a personal loan will truly benefit you before proceeding.

Read more at Yahoo Finance: 3 Ways To Use a Personal Loan To Beat Tariff-Driven Price Hikes in 2025