On March 16, money became more expensive. Any time you buy something on credit, you are essentially “buying” money. You agree to pay that money back over time, but often pay interest on that borrowed money. The interest rate for that borrowing is determined using the federal reserve benchmark rate as a starting point. From there, interest rates climb based on the market and the type of credit you have received. Since the Great Recession, the federal interest rate has gone from near zero, inching up over time to 2.25 percent by the end of 2018, then dropping back down to near zero in response to the economic impact of the pandemic. But, now, with the economy improving and commerce returning to something akin to normal, interest rates are going to begin to climb. And you will likely pay a price for that. What Happened on March 16 To battle …