With summer winding down and fall approaching, it's time to start thinking about certain money moves, such as holiday spending, end-of-year steps and taxes. Not only does fall necessitate some general financial strategies, but this fall in particular, on the heels of high inflation, has the possibility of lower interest rates forthcoming. Considering this is an election year as well, the United States is in an unique financial environment.

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Financial advisors Jason Dall'Acqua, CFP and founder of Crest Wealth Advisors, and Timothy Hewitt, CFP and vice president of Wealth Enhancement Group, explain 11 ways to get your finances fit for fall. And if you need some extra tips on saving money, here are five unnecessary bills you should stop paying this year.

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Fall signals the beginning of numerous holidays, and Hewitt recommended that you start making sure you have enough money set aside for those related expenses.

"So that could be planning a vacation around this time, saving for some shopping around the holidays, or having family over and hosting events. Just set aside some money starting in the fall to build up enough reserve for that," he said.

If you have an employer sponsored retirement account, fall is a good time to assess whether you're on track to max your contributions out, Dall'Acqua said. While IRA contributions can be done into the following year, 401(k) and 403(b) type account contributions have to be made by December 31 of any given year.

"Get the max employer match if it's offered," he noted.

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Additionally, if you've earned a bit more or paid off debt, now is a good time to make catch up contributions, which enables anyone 50 and older to add an additional $7,500 to their 401(k) or 403(b) plans, Hewitt explained.

Another big change that often takes place in fall is a company open enrollment period for your benefits, Dall'Acqua said.

"It is an important time to review what your current benefit elections look like and see if there's been any big changes within your personal situation over the past year," the expert outlined.

If you got married, divorced, added a child to your family and so on, you may need to make sure that your health insurance and your life insurance are aligned with your needs.

Flexible spending accounts (FSA) also have limits on how much money can be rolled over into the next year, Dall'Acqua said.

"Typically FSAs are a use it or lose it benefit, with some exceptions. So if you have a large balance still sitting in an FSA, look for opportunities to use that money before the end of the year before it's lost," according to the financial planner.

Health savings accounts (HSAs) should also be maxed out, Hewitt added, and these funds do not disappear from year to year. There are newer limits, too, that allow couples to add more funds if both spouses are on the plan.

If you're converting retirement funds into a Roth IRA, this is typically done as part of a tax strategy, Dall'Acqua explained.

"That's another important thing that would need to be done before year end to be applied to the [current] tax season," he said. "When reviewing what your taxable income is looking like, [assess] how much you plan to convert this year, and then make sure that that conversion occurs before December 31st."

While everyone should get their paperwork in order for tax season, this is especially important for those who have what Dall'Acqua called "variable compensation." This can include several things, such as earned bonuses, equity compensation, commission-based employment, or other kinds of freelance work.

"See where your income stands, what you've paid into taxes thus far, and make sure that you're on track with your estimated payments," he said.

You want to make sure you've paid enough in taxes to avoid any IRS penalties. Additionally, Hewitt urged, review your tax return from last year to see how this year might compare, and prepare to save money for a tax bill if you need it.

For this particular fall, a key change that may be coming has to do with the Federal Reserve's hints that they plan to lower interest rates in the coming year, Dall'Acqua said.

"If they do reduce interest rates, the implication for individuals that have a lot of cash in high yielding accounts -- if they don't want to invest it in the market, consider locking in higher rates right now either through CDs or treasuries where you can lock in that rate for a specific term, say six to 12 months," he explained.

That ensures your cash is still earning the highest amount until you need it.

Additionally with falling interest rates going forward, Dall'Acqua suggested people be on the lookout for any refinancing opportunities for mortgage loans and other consumer based loans such as auto loans and personal loans.

Given the strong stock market over the past two years, Dall'Acqua said fall is a good time to reassess portfolio allocation.

"If you have a mix of stocks and bonds within your portfolio, and you haven't done any rebalancing, then you might find yourself taking on more risk, owning more stocks than you want," the financial planner stated.

So, you may want to rebalance your portfolio for risk management purposes and to align with your financial goals.

Should you feel that all of these changes require support, you can seek out a fee-only financial advisor through such organizations as the National Association of of Personal Financial Advisors (NAPFA) and the CFP board.

If there's one financial move you should not make this fall, with a presidential election on the horizon, it's making any major financial changes solely as a result of the election.

"History and data shows that there is very little correlation with market returns and who controls the White House," Dall'Acqua said. "So, I think the most important thing is that if you have an investment strategy in place, don't let it get derailed by anxiousness about the political environment right now or the upcoming election. Stick to your plan."

By getting ahead of these financial moves now, you can enjoy your fall and be well prepared for the New Year.

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This article originally appeared on GOBankingRates.com: Financial Advisors: 11 Money Moves You Should Make This Fall