5 Tips to Help You Feel More Financially Confident This Fall

Summer has passed and while that means no more days by the pool or enjoying a scoop of ice cream on a nice, hot day, fall is still a great time to partake in fun activities. I mean, who doesn’t love a good apple picking day or a scary movie marathon? But before you pick your next horror film to curl up to on the couch, consider how much more enjoyable it may be without the weight of your finances on your mind. Yes, fall is a great season for fall activities, but it also happens to be a great time to get your finances in check, too.

Now bear with me. Between COVID and inflation, many people’s finances have suffered. According to a new NerdWallet survey conducted by the Harris Poll, 2 in 5 Americans (40 percent) feel their overall financial health is worse now compared to before the pandemic, while just 21 percent say it’s better. You may feel as though there’s no coming back, feeling less confident financially, but I assure you that’s not the case. Your savings may have taken a hit, but that doesn’t mean you can’t get back on track. Below, read tips from NerdWallet for how you can feel more financially confident this fall. It doesn’t happen overnight, but the best thing you can do right now is to make a plan to better your financial future.

Tip #1: Consider a balance transfer credit card 

Over the next 12 months, more than 2 in 5 Americans (44 percent) plan to pay off debt, according to the NerdWallet survey. Interest rate increases will continue to raise the cost of borrowing money at a time when budgets are stretched thin. If you can, set some money aside for unexpected expenses so you can avoid additional credit card debt. If you qualify, try to lower your interest rate with a balance transfer credit card or personal loan. That can help you save hundreds of dollars while you pay down debt.

Tip #2: Consider using a cash back credit card

Additionally, with prices rising many are feeling the budget squeeze: Annual inflation is up 8.3 percent as of August 2022. You may also want to consider using a cash back credit card for your daily purchases to help mitigate the impact of inflation, but only if you won’t carry a balance from month to month.

Tip #3: Take the leap

If you’re sure you want to own a home and you find a suitable property at a price you can afford, then do it. Don’t talk yourself out of buying a home because you think home prices or mortgage rates will fall soon, because you may be wrong. And if you’re on the hunt for a good mortgage lender, NerdWallet offers options for shopping around.