Here we are again, fretting about a possible increase in interest rates by the Federal Reserve and what a bump would mean for our personal finances.

When it comes to your money, you have to prepare for the worst and hope for the best. There is no use worrying about what the Fed is going to do because it’s out of your control.

I know you are probably busy shopping and planning for the holiday and don’t need the extra anxiety of a potential interest rate increase. So here are just two steps you’ll need to take when an increase finally comes:

● Set a savings goal. Americans’ savings rate is improving, but it’s still too low.

The average personal savings rate as a percentage of disposable income was 5.6 percent in October, according to the Bureau of Economic Analysis. That’s better than its lowest point of 1.9 percent in July 2005 but nowhere near the peak of 17 percent in May 1975.

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