5 Ways to Deal with Fall Financial Stress

For many people, autumn is a pretty comfortable time. The leaves are changing, and there's a reprieve from the summer heat. But fall can also cause stress. While seasonal changes like shorter daylight hours can impact your emotions, most of what causes anxiety this time of year is based on money—like concerns about how much you may be spending on upcoming holiday shopping.

According to the American Psychological Association's 2022 Stress in America poll, 65% of those surveyed are stressed about money—the highest percentage since 2016. The current economic situation—with high levels of market volatility and inflation rates that haven't been seen in decades—isn't helping the situation. A report from PYMNTS.com and LendingClub found that 62% of Americans earning between $50,000 and $100,000 per year were living paycheck to paycheck as of May 2022, up from 53% a year earlier.

Fortunately, once you've identified what's causing you anxiety, there are ways to manage both your financial and emotional stress. Here are some strategies that may help you feel more at ease this time of year.

1 Take a morning walk

It's a simple suggestion, but getting outside during daylight hours can help fight the chemical changes that come from the days getting shorter. Less daylight leads to lower levels of hormones like serotonin and dopamine, which help control emotions. Your body responds to this by producing more cortisol, which is a hormone that can lead to anxiety. This is commonly referred to as seasonal affective disorder, which is most common in the winter.

2 Budget and prioritize expenses

If you're living paycheck to paycheck, you may want to calculate your monthly expenses to determine how much you can afford to save or put toward goals. Keeping a budget may help you feel like you have better control over your money. It can also help you identify expenses you may not need to be incurring every month or may be able to cut back on.

One way to budget is to start with your essentials—things like your mortgage or rent, utilities, groceries and minimum payments on any debt. You can compare this with your paycheck to determine what you have left as disposable income, which you can then put toward your savings or outstanding debt.

To beat anxiety related to holiday spending, start early and set a budget for the holidays. How much will you spend on travel? What about gifts? Once you have a general idea, you can see how it fits into your overall budget so you can spread the expenses out over several months to make them more manageable.

3 Take a break from social media

The fall of 2022 includes the midyear election cycle, and politics is certainly a factor that can cause stress. Results from a 2021 Pew Research survey showed that 48% of people get their news from social media at least some of the time. Other studies have shown connections between social media and anxiety and depression, as people see posts and feel like their lives don't meet the perfect ideal often shown in these images.

Consider limiting your use of social media sites to once or twice a day, and always be cognizant of the source of any articles or opinion pieces you read that may be trying to make you feel a certain way about a topic or situation.

4 Take control of your schedule

For some parents, summer may not feel like much of a break. While kids may not be in school, they may be in camp or have various summer activities that can make you feel like you've become their personal Uber driver. If that's the case, use the fall to get a quick break.

Consider setting a limit on the number of activities your children can take on so you don't end up having a commitment every night. If you have extra vacation days, consider using one on a weekday while your kids are in school to simply have time for yourself.

5 Plan for the future

If summer is a relaxing, fun-filled time for you—with vacations and a break from your hectic day-to-day life—the return of fall and a more normal schedule could have you feeling stressed. Many businesses don't have scheduled holidays between Labor Day at the start of September and Thanksgiving in late November, which is one of the longest stretches between holidays. This is another reason to use any vacation time you may have to build in a mental health day for yourself.

Another way to improve your mood may be to start thinking about your next vacation—whether it's a holiday getaway or spring break trip—and start planning. Earlier planning may give you something to look forward to, but it can also have financial benefits.

Prices for flights in particular typically rise the closer you get to a specific date. By planning in advance, you may be able to find flexibility in your travel dates that allows you to take advantage of less expensive times at your destinations. Often, fall can be a less expensive time to travel because most people tend to vacation during the summer.

If you're struggling, get help

If you're having trouble managing your emotions or your finances, professional help may be an option. If you're fighting depression-causing stress, check to see if your health plan covers mental health resources. If you're anxious about your financial situation, talk to your banker or a financial advisor. They can help you consider solutions for managing your money and planning for the future.