An adjustable-rate mortgage, or ARM for short, is a home loan where the interest rate can change over time. This means that your monthly payment can go up or down depending on what happens to interest rates. That may be tempting with interest rates going up... but the problem with ARMs is that it can be hard to predict what your payment will be in the future. If interest rates increase, your payment will increase too, which can be tough to afford. Plus, you might end up paying more in interest overall than a regular mortgage. Let's break down these mortgage rates so you can decide if it's right for you... or not. What you'll hear in this episode: [0:50] Road trips [2:44] Controlling your lifestyle payments [7:55] Money Tip: ARM Related Episodes Episode 52: Quick Money Tip #14: Real Estate Rant & How Much House Should You Buy?? Episode 50: Quick Money Tip #13: Burnout and Lifestyle Inflation Episode 31: Buying a House in Cash?! Episode 29: Is real estate investing worth it from a tax perspective? Clo Bare Blog: clobare.com Find me on social media at @clobaremoneycoach Please rate and subscribe to support this channel! Free Money Guide: moneyrightguide.com Free Investing Class: lazyinvestingclass.com Produced by Elevate Media - Want to start your show? Reach out! This podcast is not intended as financial advice. Always do your own research and talk to your financial professional to discuss your situation. To read our full terms and conditions, head here: TERMS AND CONDITIONS