You don't have to tailor your finances to the Fed — here are 3 money moves that work any time

The Federal Reserve meets for the last time this year on December 10, and, again, the big question centers around what will happen with interest rates.

The federal funds rate certainly influences our everyday lives: It determines how expensive it is for Americans to borrow money, how rewarding it is to save, and, in more macro terms, it plays a part in major economic factors like inflation and employment.

Even so, you don’t need to wait for the Fed to act before taking control of your finances. The goal is to build a financial plan that isn’t dependent on guessing what the Fed or any other government agency might do. “I always try to help my clients build something that works no matter what the Fed does,” Don Grant, a CFP at Sabre Wealth, tells CNBC Select.

“The bottom line is the importance of planning — having a financial life that isn’t based on what the Fed might or might not do, but one that’s designed to weather the storm,” Grant adds.

No matter what happens with interest rates, here are three financial choices that consistently pay off.

There’s no scenario where paying off high-interest debt shouldn’t be a top priority. Regardless of whether the Fed raises its benchmark rate, cuts it or keeps it the same, paying off high-interest debt is a smart move.

A big culprit of this is credit card debt, where interest rates are already so high that even a small decrease in interest rates wouldn’t make a big difference. You should get rid of this costly debt no matter what.

One way to do this is through balance transfer cards, which offer an introductory 0% APR period for paying off your credit card balance. For example, the Citi Simplicity® Card lets you pay off your debt interest-free for 21 months — nearly two years. Its balance transfer fee is also lower than competitors’.

Like with any balance transfer card, we suggest having a plan for how much you need to pay off each month to ensure the total balance is paid by the time the intro period is up (otherwise, you’ll pay interest after the 0% APR period). You must make at least the minimum monthly payment on a balance transfer card.

The Chase Freedom Unlimited® (see rates and fees) offers a bit shorter intro APR window of 15 months on balance transfers, but it offers cash-back rewards on your everyday spending, plus a welcome bonus.

If you have multiple high-interest credit card balances, you’re better off consolidating your debt through a personal loan. This means you’ll move these multiple credit card debts into a single new loan, with one monthly payment and potentially a lower interest rate.

Achieve is one lender that accepts those with bad credit, or borrowers with a FICO Score of 620, also offering several rate discounts and flexible terms and payment dates. Loan amounts range from $5,000 to $50,000 and loan terms are two to five years.

It’s (painfully) true that when the Fed lowers its benchmark rate, you’ll likely see the return on your savings account go down, too.

But if you have your money in a high-yield savings account — which is just as safe and secure as a traditional, brick-and-mortar savings account — at least you’re still earning an above-average interest rate.

Currently, the best high-yield savings accounts offer an APY hovering around 4% APY. Even if that rate were to drop, though, it would still outpace the national average savings rate of 0.40%, a few times over. The lesson is: If you’re going to have any money in a savings account, it should be where it’s earning the most interest possible. It’s always a good idea to maximize your savings, no matter the rate environment.

Plus, these days you can easily find a free savings account, with zero monthly fees and no minimums required.

Compare savings accounts

In an uncertain economy where signals may be mixed, it’s easier to plan your finances when you have predictability each month of what you have to pay.

If you need to borrow money or are looking to refinance, opting for a fixed-rate loan over a variable-rate loan can give you one less unknown; no matter what happens with interest rates, that loan payment each month will be the same and you can budget better knowing that.

Even if it means being locked into a slightly higher rate today than tomorrow (if the Fed were to lower rates), it gives you peace of mind of not having to worry what the Fed does. In a year, rates could go back up again and you’ll be happy you chose a fixed-rate loan that is less vulnerable to those fluctuations.

Looking to refinance your car loan? These offers include fixed APRs

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