How the debt ceiling debate could affect you - WSFA.com Montgomery Alabama news.

How the debt ceiling debate could affect you

Yvonne Messer reviews information on the debt debate's impact on financial markets. Yvonne Messer reviews information on the debt debate's impact on financial markets.
MONTGOMERY, AL (WSFA) -

No matter what happens in Congress, one thing is for sure, people are watching how the economy reacts.

But even with Congress' instability, financial advisors believe the market will adjust.

Montgomery Financial Advisor Yvonne Messer isn't overly worried about the economy right now.

"You can't let fear control you. You can't let the markets control you."

That's because she and others are confident "Congress will get their act together."

She says because Congress routinely waits until the last minute to make large financial decisions, the market isn't surprised by it anymore.

However, "there will be some time where it doesn't work out like that and you will see a violent reaction," she says.

Messer believes if Congress doesn't come to an agreement "interest rates would go up which means the cost of borrowing for you and me would go up."

Not only that, retirement savings for older individuals could take a hit.

"It takes a while to get that money back," she says.

Messer suggests everyone should keep cash in savings accounts--something they can access immediately, if need be.

"You want to try and have emergency money so that in case something like this were to happen you can go on."

Messer believes many families are simply focusing on themselves right now--to put food on the table and pay bills.  That means they're less concerned with Congress and aren't reacting to the political instability.

Copyright 2013  WSFA 12 News.  All rights reserved.

  • Trending StoriesTrending StoriesMore>>

  • 'The Phantom' serial killer of children out of prison, living in Tucson

    'The Phantom' serial killer of children out of prison, living in Tucson

    Thursday, April 27 2017 12:17 AM EDT2017-04-27 04:17:43 GMT
    Friday, April 28 2017 11:32 PM EDT2017-04-29 03:32:02 GMT
    Convicted killer William Huff was spotted riding his bicycle through a Tucson neighborhood. (Source: 3TV/CBS 5)Convicted killer William Huff was spotted riding his bicycle through a Tucson neighborhood. (Source: 3TV/CBS 5)

    William Huff terrorized Sierra Vista during the spring and summer of 1967. Despite a sentence of 40 years to life, the Arizona Board of Executive Clemency voted to release him from prison into home arrest. Family members of the victims are concerned for the safety of the community, as are new members of the Clemency Board. CBS 5 Investigates videotaped Huff riding a bike through his Tucson neighborhood. There are no restrictions placed on his proximity to children.

    More >>

    William Huff terrorized Sierra Vista during the spring and summer of 1967. Despite a sentence of 40 years to life, the Arizona Board of Executive Clemency voted to release him from prison into home arrest. Family members of the victims are concerned for the safety of the community, as are new members of the Clemency Board. CBS 5 Investigates videotaped Huff riding a bike through his Tucson neighborhood. There are no restrictions placed on his proximity to children. 

    More >>
  • Severe reaction to new sandals leads woman on a painful path

    Severe reaction to new sandals leads woman on a painful path

        One woman wants to warn people about her painful path, the result of a severe and debilitating allergic reaction.  She had no idea what she was allergic to until she visited a fourth emergency room in two weeks.    

    More >>

    One woman wants to warn people about her painful path, the result of a severe and debilitating allergic reaction. She had no idea what she was allergic to until she visited a fourth emergency room in two weeks.    

    More >>
  • BREAKING

    Officials: 5 dead during weekend storms, casualties may increase

    Officials: 5 dead during weekend storms, casualties may increase

    Sunday, April 30 2017 12:31 AM EDT2017-04-30 04:31:34 GMT

    Severe thunderstorm warnings were issued Saturday for multiple East Texas counties.

    More >>

    Severe thunderstorm warnings were issued Saturday for multiple East Texas counties.

    More >>
Powered by Frankly