You'll be fine. This DTC is the result of the post-cat HO2S being below .400mV for a specified period of time. Usually in the 5 - 10 second window.
With this code, I would start looking at the wiring/connections/terminals/etc first. That is sometimes the issue with this code. Another trick if all wiring checks out and at least tide you over and save a few bucks in the interim, is to remove the sensor, clean it (the part that is in the exhaust stream), with something like a MAF or electronics cleaner, or even brakekleen, reinstall and see if that does it. I bet it's sooted up quite nicely which might be why. After checking the wiring, replacment of the sensor is next on the list IIRC.