The Fed raised interest rates a quarter of a point this afternoon. Here's what it means for your money, NBC News reported.
Savings: "The 'average' saver won't see much benefit because the 'average' financial institution is unlikely to increase the measly payouts in a meaningful way," said Greg McBride, chief financial analyst for Bankrate.com.
Credit Cards: You'll pay an extra $40 in interest every year, based on the average credit card debt of $16,000 at current average of 15 percent interest.
Home Equity Line of Credit (HELOC): A $30,000 line of credit will cost you $75 more in annual interest.
New Car: Financing a $25,000 new set of wheels increases by $3 more a month.
Mortgages: If you're shopping for a new house, the mortgage could run you an additional $720 a year if all of the Fed's three expected rate hikes go through, according to Bankrate.com.