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Opening mail from your credit card company is never fun. If it isn’t a bill or marketing letter, it’s often an update to the terms of the credit card agreement, including changes to the annual percentage rate, or APR, that determines the interest rate paid on revolving balances.

Credit card interest rates are tied to the benchmark rate set by the Federal Reserve, so if you’re paying attention to what the Fed does then you might get an idea of upcoming increases. Or if you wait to receive a letter from your credit card company, the notification will usually come 45 days in advance, giving you at least one billing cycle to pay down your balance or find a better credit card.

When You Won’t Be Notified
However, you may not get such explicit notice if you incur a penalty APR for missing payments. The APR increase is immediate and is explained in the terms and conditions you originally received with the card. The contract will also list how you can get back to the original interest rate. Promotional rates are for a fixed period and you likely won’t get notified of when they’ll end.

If your APR is variable and tied to interest rates set by the Fed, then you may also not be notified early. Your credit card company may notify you anyway, but it isn’t required.

What to do About a Rate Hike
If you receive a credit card rate increase notice, your best solution is to ask the bank to lower your rate. It just takes a phone call and can often get you a reduction if you have good credit history and always make payments on time. You can also shop around for a better credit card elsewhere”be sure to let your bank know of better offers that it should at least match.

If you have a large balance, a balance transfer card can help you avoid the higher interest rate that’s coming soon. Balance transfer cards often offer 0-percent interest for a year or so, giving you time to pay it off before having to pay interest.

The best solution is to pay your credit card balance in full each month to avoid paying interest. Not carrying a balance is one of the best things you can do to raise your credit score.

Published with permission from RISMedia.

Some kitchen tools and gadgets are splurges”an ice cream maker is probably rarely used by most”and others are essentials that you’ll likely use daily.

If you’re just starting out in the kitchen and don’t own much more than a pot and a spoon, here are some essential items that are worth the money and will get you ready for cooking.

Chef’s Knife
A full set of knives is great, but the one you’ll use most often is a chef’s knife”a big blade that can do many cutting tasks. A good knife will make cooking easier, faster and a lot more fun than working with a poor one. Be sure to have it sharpened professionally at least once a year. Don’t let it sit with food on it, and wash and dry it after each use.

Large Non-Stick Skillet
A 12-inch non-stick skillet will be used almost daily for cooking, from eggs in the morning to a stir-fry for dinner.

To make it last, don’t use metal utensils, let it soak for hours or put it in the dishwasher (even if it says it’s dishwasher safe). Gently wash and dry it after using it, and don’t scrub it with an abrasive cleaner or sponge.

Big Sauce Pot
Like a big skillet, a 3- or 4-quart sauce pot will be used again and again in your kitchen. Get a big one to make large batches of soup or grains.

The cleaning process is the same for many kitchen items you want to keep in good shape for a long time: Don’t use metal utensils, don’t put it in the dishwasher, wash thoroughly with a gentle sponge and lightly coat it with oil after cleaning.

Blender
A good high-speed blender can do all the work of a regular blender, food processor, juicer and immersion blender. You can use it to blend ingredients for soups, marinades, drinks and all kinds of things that you’ll come up with as you gain experience as a cook.

Parchment Paper
Lining your baking sheets and pans with parchment paper is an inexpensive way to preserve the life of these items. It will also make your life easier by not requiring you, or whoever does the dishes in your house, from having to scrub baked-on food off of pans.

Published with permission from RISMedia.

Sometimes people take out a mortgage and are forced to accept less-than-favorable terms because of a low credit score or a high debt-to-income ratio. In other cases, homebuyers choose a mortgage that has a fixed rate for a specific number of years and then convert to an adjustable rate. That can save money in the short term, but when the interest rate is recalculated, monthly payments can skyrocket, causing homeowners to struggle to meet their obligations.

If you’ve been having trouble covering your monthly mortgage payments, refinancing the loan could be the solution. Refinancing could allow you to lock in a lower interest rate and significantly reduce your monthly payments.

Lower Costs
If your interest rate is higher than you’d like, refinancing your mortgage might lower it. A decrease of one or two percentage points could shave hundreds of dollars off your monthly payment. You can even use that extra money for credit card bills, home repairs, a new car, or savings for retirement or your childrens education.

Access to Equity
If you need cash to cover an unanticipated expense or to pay off high-interest credit cards, tapping into your homes equity is an option. You could refinance your home for more than the amount of principal you currently owe and use the extra money for other needs. While this could help you out if you’re strapped for cash, be aware that it would increase the size of the mortgage and might raise your monthly payments if your interest rate stays the same. If you are unable to cover your new monthly payments, your house could wind up in foreclosure.

Refinancing Process
If you want to refinance your mortgage, you’ll need to fill out paperwork and go through an approval process. The fact that you currently have a mortgage is no guarantee that you’ll be approved for refinancing. If your income has gone down, you have accumulated a lot of debt, or your credit score does not meet the lenders guidelines, your application could be denied, or you might not get the low interest rate you want.

If you decide to refinance, be prepared to pay for an appraisal, application fee, loan origination fee, closing costs and other expenses. In some cases, the lender will roll these fees into the loan balance, but other companies require refinancers to pay these costs out of pocket at the time of closing.

Explore Refinancing Options
If you’ve been struggling to pay your mortgage, you might be able to ease the burden by refinancing. This could allow you to reduce your interest rate and lower your monthly payments significantly, which would relieve stress and give you more money each month to devote to other priorities. Talk to your lender about your options.

Published with permission from RISMedia.

Whether you like a rustic, industrial or mod look in your space, the next time you’re considering an interior redesign, don’t miss out on decorating with wood.

Floors
If you can, wood flooring is one of the loveliest ways to use wood in your space. Choose a stain that compliments your space”like a light blonde wood for smaller rooms or a darker variety to make wide open spaces seem intimate.

Furniture
If you do have a wood floor, choose a different wood tone for your furniture to avoid your pieces getting lost. Blonde wood furniture atop a darker, mahogany floor can be gorgeous.

Walls
Don’t let wood paneling taint your impression of wood walls. Choose a natural, grainy wood and apply it to one wall for a chic, rustic pop of color.

Art
Look for wood pieces so gorgeous you’d like to hang them on your wall. Turn to farmer’s markets, craft fairs and even Etsy for seriously gorgeous wooden art pieces.

Accessories
Wood coasters, wood coat racks by the door, wood crates as end tables and even staining your wooden window frames can all add a little extra wow factor to your space.

Published with permission from RISMedia.

Between your desk job, your social media accounts and your nightly Netflix-a-thon, those hours in front of a screen really stack up. Too much time in front of a screen can seriously damage your vision and hinder your mental health. Below are a few tips for stepping away:

Host a weekly game night. Skip the TV time for a weekly game night with family or friends. Pick out your fav, old-school board game and get some healthy competition flowing, away from your phone.

Set a rule”no phones in bed. Leave your phone charging in another room when you head to bed. This will keep you from staying up late checking social media and checking your messages as soon as your eyes are open. You may need to revert to an old-school alarm clock, but the time away from your screen will be worth it.

Skip the video chat. While video chatting with friends and family can be a great way to see their faces, it does mean more screen time. Once in a while, opt for a regular phone call and let your eyes rest as you catch up.

Leave your phone at home. Once a month or, if you can swing it, once a week, go on an outing and leave your phone at home. For safety precautions, let your family know where you’ll be and that you’ll be out of reach. Head to a museum, park, movie or restaurant and let your mind wander, phone-free.

Published with permission from RISMedia.