October 2022

Fall is in full swing — and with that comes autumn sports like college football and the NFL, not to mention children's athletic activities. But whether you're a sports fan or a parent of a kid with athletic aspirations, you know it doesn't come cheap. In fact, LendingTree surveyed Americans about how much they will spend on sports this season. The average? A whopping $664 for the fall alone.

If you're spending cash on extracurricular activities, travel or simply trying to keep up with rising costs due to inflation, you know it's easy to get into debt. This month, we offer some strategies on how to keep your debt in check.

—Ismat Mangla, Editor

Take back control of your debt with zero-interest balance transfers

With inflation and interest rates on the rise, debt can be an even bigger worry than ever before. One of the best tools to fight debt? Balance transfer credit cards with 0% intro APR offers.

The good news? A LendingTree study finds that these balance transfer cards, which can come with a 0% intro APR for up to 21 months, are more widely available than at the start of 2022. And their issuers are also increasingly likely to offer no interest on new purchases.

The not-so-good news: Fees on some of these cards are starting to rise slightly, and there may be a chance issuers pull back on offers as the Federal Reserve continues to increase interest rates. So get a 0% balance transfer credit card while the getting is good.

Pro Tip

"If you've got credit card debt, consider getting a 0% balance transfer credit card. They're one of the best weapons you have in the battle against debt because they let you avoid accruing interest for up to 21 months. That's a really big deal. You'll need good credit to get one, but if you can, getting a 0% balance transfer credit is definitely one of the best moves you can make for your finances."

—Matt Schulz, chief credit analyst at LendingTree

Consolidate your debt with a personal loan — even if your credit is not in good shape

Worried your credit score isn't strong enough to qualify for a balance transfer card? You still have options to whittle down your debt by applying for a bad credit loan. These loans typically come with fixed rates and are offered by lenders willing to loan you funds despite your limited credit rating. In fact, these types of loans can even help you build credit so you can eventually qualify for better loan terms and other financial opportunities in the future.

Check out LendingTree's best bad credit loan options here.

October is tops for home-buying

As the weather cools, so can the housing market. And that can mean big savings for house hunters — especially those planning to buy in October. In fact, according to a 2021 ATTOM report, October is the best month to buy a home since it offers the lowest premiums (2.9%).

You can save even more by following a few tips to maximize your home search.

Ways to save:

Boost your financial profile. As you're saving money for your down payment, try to increase your credit score. The higher your score, the more likely you are to snag a lower interest rate on your mortgage. Not sure what your score is? Get it from LendingTree for free — and checking it won't impact your score.

Be ready to negotiate. There's usually less competition in the fall, but don't let that deter you from negotiating with a seller over things like price or who pays closing costs.

Stay in the know. The housing market moves fast, and things can change in an instant. In addition to signing up for alerts on listings, check out the Department of Housing and Urban Development (HUD) listings that are often cheaper that properties you might find elsewhere.

Shop around for the best mortgage. We found that comparison shopping can save borrowers an average of $63,151 over the life of a loan.

From the experts

"People may not realize it, but different lenders can offer different rates to the exact same borrowers. As a result, shopping around for a mortgage can potentially help you find a lower rate and save tens of thousands of dollars over the lifetime of your loan."

—Jacob Channel, senior economist at LendingTree