How is the situation on Wall Street going to effect you?

Friday, August 12, 2011 - 4:17pm

NATIONAL (FOX44) - The volatility continues on Wall Street, and though it's big news for investors, are you still impacted if you don't have a 401K?

Patrick Coogan is the President of Champion Wealth Strategies, and he says if you don't invest, you shouldn't see any big impact, but if use credit cards, Coogan says you could still be hit with higher interest rates.

According to Coogan, banks argue they're taking bigger chances with any credit transaction, and that's why you may end up paying more.
He says once the roller coaster on Wall Street settles down, so will the banks and the interest rates.


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