[header] How to deal with rising interest rates [title] Increase your cash holdings. [step] A very conservative move, when you know that interest rates will be rising, is to sell off some of your bonds or stock investments for cash. That cash can then be deposited into savings or money market accounts, with interest rates that will presumably be rising along with all the other rates. 
You will have ready access to cash when you need it, and the money will be in a relatively " safe " place that is guaranteed to grow. [substeps] While this is a safe and conservative step, you are not likely to gain much return on your money.