Rising interest rates, shaky markets, and higher borrowing costs could all follow Moody's historic downgrade of the U.S. credit rating. Here is what it might mean for your money.

The dip in the U.S. credit rating indicates that ratings agencies believe the government is at a higher risk of default on its debt. While the U.S. rating still remains relatively high, the decrease may make investors more hesitant to lend to the government, and demand higher compensation for lending in the form of higher interest rates.