I Asked an Economist: Should I Make Major Financial Moves Before November?
With the midterm elections approaching, you may be wondering whether now is the time to make a big financial move or whether you should wait until November passes.
Economist Wayne Winegarden of the Pacific Research Institute said trying to time your finances around an election can create more risk, not less. Instead, he recommends focusing on the financial basics you can control.
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Here are five moves to consider before November.
Build Your Savings Cushion
Start with the money you have available when something goes wrong. Financial experts commonly recommend keeping three to six months of expenses in emergency savings. But that can be a difficult target for households already stretched thin.
A CNBC and SurveyMonkey poll found 63% of Americans are living paycheck to paycheck. Among them, 71% said a single delayed payment could cause major financial hardship.
“A large difference between today and past business cycles is the low level of savings for many families,” Winegarden said.
He acknowledged that building savings may be difficult right now, but said putting aside whatever you can is still important.
Don’t Chase Investment Fads
Artificial intelligence has become one of 2026’s biggest investment themes. Morgan Stanley expects the continued expansion of AI to play an important role in how stocks perform in 2026. J.P. Morgan Private Bank also identified AI as one of the areas shaping alternative-investment opportunities in 2026.
Winegarden said investors should be careful about jumping into the latest investment trend after prices have already climbed.
“Historically the largest mistake the average investor makes is to buy into the latest investment fad late, which means they are buying when stocks are expensive,” he said.
He sees some parallels between current high valuations and the dot-com bubble of the late 1990s and 2000.
“Valuations are very high, which creates uncertainty regarding current valuations,” Winegarden said.
Don’t Time the Market
Avoiding an investment fad is one thing. Trying to decide exactly when to get into or out of the broader market is another.
Fidelity's review of past midterm election cycles shows that stocks have often been more volatile and produced softer returns during the election year, with performance tending to improve afterward.
The firm also found that long-term market results have been driven more by factors such as corporate profits, business spending and the broader economy than by election outcomes themselves.
“With respect to the election, trying to time these events is difficult and creates a great deal of risk,” Winegarden said. “If you can time things well, great, but most people can’t.”
Instead, he recommends sticking with an investment strategy appropriate for your circumstances, including regularly investing over time.
Pay Down Credit Cards
If you have revolving credit card debt, paying it down can give you a guaranteed way to reduce what high interest rates are costing you.
The average rate on credit card accounts assessed interest was 22.15% in July, according to the Federal Reserve.
Winegarden called revolving credit card balances “particularly costly.” That makes reducing expensive balances one financial move that doesn’t require predicting what will happen in November or what markets will do afterward.
Think Before New Debt
Credit cards aren’t the only place where borrowing remains expensive.
The average rate for a 30-year fixed mortgage was 7.03% as of Sept. 24, according to Freddie Mac. That was up from 6.95% the previous week and 6.30% a year earlier.
“Borrowing today is expensive,” Winegarden said.
That doesn’t mean every major purchase needs to wait until after the election. It means the cost of borrowing and whether the payment works within your budget may be more useful guides than trying to predict what changes after Election Day.
Winegarden’s larger advice is simple. Build savings when you can, be careful about expensive debt and stick with a disciplined investment strategy rather than letting November dictate your financial decisions.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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