No one likes seeing their credit rating drop, as it’s indicative of a number of issues (poor budgeting, overspending, borrowing more than one can pay) and it increases one’s financial consequences (it’s harder to be approved for things like apartment rentals,

Moody’s downgrade could push up borrowing costs for consumers. From credit cards to mortgage rates and auto loans, here’s a look at how your wallet is impacted.Moody's decision to downgrade the U.S. credit rating may have consequences for your money,

The Moody’s announcement sent the yield on a 30-year Treasury bond to a high of 5.01% at one point on Monday. Bond yields rise as bond prices fall. When a selloff hits and demand for bonds dries up, it sends bond prices lower. In turn, bond yields move higher.