As interest rates fall due to recent rate cuts, borrowers should take advantage of lower payments on variable-rate debt such as credit cards and adjustable-rate mortgages. Homeowners with ARMs may see their rates drop over time, while private student loan interest rates will also decrease. Those with savings should consider locking in high rates on online savings accounts and CDs before they decline. Large purchases like homes or cars should be postponed to take advantage of potential cost savings from lower interest rates in the future. Overall, borrowers should act now to refinance or consolidate debt, while savers should secure high-interest accounts to maximize returns before rates decrease further. Timing major purchases to coincide with lower rates can save money in the long run.