The leaves are falling, school is back in session, and the year is winding down. But autumn isn’t just about crisp air and cozy bonfires—it’s also the perfect season to reset your finances before 2025 comes to a close. Whether you’re just starting your financial journey or preparing for retirement, now is a great time to take practical steps that will help your money work harder for you.
Open a High-Yield Savings Account
It’s easy to open a savings account when setting up a checking account, but convenience shouldn’t be the only factor. Many traditional accounts pay next to nothing in interest, while plenty of banks and credit unions offer high-yield savings accounts with rates of 4% or more.
Some institutions may require minimum deposits, while others let you save at your own pace. The real magic comes from compound interest—watching your balance grow can be motivating, inspiring you to save more regularly. Over time, those deposits add up to a surprisingly large financial cushion for your future needs and wants.
Tackle Your Smallest Debt First
Financial expert Dave Ramsey popularized the “debt snowball” method—starting with your smallest bill, then working your way up. The psychology behind it is simple: paying off even a small debt creates momentum. Once you see progress, you’ll be motivated to keep going until all those balances disappear.
Whether you adopt Ramsey’s full system or create your own plan, eliminating small debts frees up extra money. You can then redirect those funds toward bigger debts, retirement savings, or boosting that new high-yield savings account.
Set Up Alerts to Avoid Fees
Most of us have paid an avoidable fee at some point—overdrafts, late fees, or over-limit charges. These mistakes usually happen when we’re busy or distracted. Thankfully, there’s an easy solution: account alerts.
Banks and credit card issuers allow you to set up notifications for low balances, upcoming due dates, or unusual spending. A quick text or email reminder can save you from costly fees and help you stay on top of your money with little effort.
Protect Yourself from Fraud
Alerts aren’t just useful for bills—they’re also a frontline defense against fraud. If suspicious activity shows up on your account, you’ll be notified immediately and can confirm or deny the charges with a quick response.
Beyond alerts, it’s wise to monitor your credit regularly. Once a year, you’re entitled to a free credit report from each of the three major bureaus—Equifax, TransUnion, and Experian—via AnnualCreditReport.com
