Black Friday may be synonymous with big deals and spending, but this year, you can look to put money back in your wallet with these five money-making moves.

Americans may be missing out on an opportunity to offset inflationary pressures by earning more on their savings, according to a recent Santander survey. Interest rates on savings have climbed steadily to the highest levels in decades. Yet, 66% of middle-income Americans have not moved money into higher-yielding accounts to take advantage of these rates since the beginning of 2022. Right now, earning more on savings could be as simple as moving it to a Certificate of Deposit (CD). With CDs, you agree to keep your money deposited for a fixed period, ranging from a few months to several years. In exchange for a higher interest rate when compared to regular savings accounts. 

A high-yield savings account, also known as a high-interest account, offers higher interest rates on deposits than a traditional one. The interest rate is an annual percentage yield (APY) that fluctuates. However, these accounts allow you to make deposits and withdrawals. By law, consumers can withdraw or transfer cash from a high-yield savings account up to six times per statement cycle without paying any fees.

If you're struggling with high-interest debt in a troubling economy, you could consider paying it off with a personal loan at a lower interest rate. Visit Credible to compare your options without affecting your credit score. 

MORTGAGE RATES DIP FURTHER AND COULD BE THE BREAK HOMEBUYERS NEED: FREDDIE MAC

Student loan payments resumed again last month following a long hiatus, which could be a drag on your monthly budget – if you owe money. The good news is that if you have federal student loans, you may qualify for any of several income-driven repayment plans that may significantly impact your bottom line. Take the new Saving on A Valuable Education (SAVE) income-driven repayment (IDR) plan, which can lower monthly payments to zero dollars or help borrowers making payments save at least $1,000 a year. Nearly 5.5 million borrowers have enrolled in the plan, including 2.9 million with $0 payments. 

If you are among the over 1.4 million borrowers who have private student loan debt, refinancing might be a good alternative to lower costs. By taking out a new student loan with better terms to pay back your current one, you could pay off your loans faster and reduce the amount you pay each month.

Visit Credible to check your rates and see what you qualify for without affecting your credit score.

BUYERS PAID 46% MORE FOR MORTGAGES IN 2022, CFPB REPORT SAYS

At this point of the year, you've probably noticed that what you pay for car insurance has risen even if you haven't made a claim. If you are proactive, you may be able to shave some dollars off what you are spending in this area. 

Negotiating with your insurance provider by asking about changes you can make to your policies that could lower your premiums. Many insurers offer payment plans and other unique payment date options for customers experiencing financial stress.

Alternatively, you can shop for the most competitive price offering. Compare quotes from at least four to five companies before picking a policy, and reevaluate your policy every six months to ensure it still covers your needs. Price shopping should become an annual rite of passage for price-conscious consumers looking for the best deal. 

Comparing car insurance quotes is important, but it can take time. Credible can help you simplify the process and eliminate the time-consuming part of your search.

BUY A HOME IN THESE STATES TO GET STUDENT LOAN DEBT RELIEF

Inflation and rising costs have pushed Americans to generate extra revenue creatively. One trend that has emerged from this is house hacking. This is when a buyer purchases a home intending to rent out rooms for the long or short term. 

Opening up an extra bedroom in your home for either the short or long term could create a new revenue stream. Be sure to carefully consider the arrangements and the risks that may come with them.

If you're considering becoming a homeowner, it could help you shop around to find the best mortgage rate. Visit Credible to compare options from different lenders and choose the one with the best rate for you.

MANY AMERICANS PREPARING FOR A RECESSION DESPITE SIGNS THAT SAY OTHERWISE: SURVEY

If high-interest credit card debt is blowing your budget, a balance transfer card could be one way to get it under control. This option allows you to move an existing credit card balance onto a new card that typically offers a grace period in which the card won't carry interest. These introductory 0% APR periods can last up to a year, but must last at least six months, according to a post by the Consumer Financial Protection Bureau (CFPB). This allows you to pay off your credit card balance by making monthly payments with zero interest. 

Remember that credit card companies usually charge balance transfer fees ranging from 3% to 5% of the total transferred. Cardholders also need to pay off their balances before the introductory grace period ends, or the interest could accumulate on the remaining balance. 

If you'd like to open a credit card, you can compare the benefits of your options through several lenders by visiting the Credible marketplace and see what cards you qualify for.

COLLEGE TUITION PAYMENT PLANS MAY PUT STUDENT AT RISK: CFPB

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