2023 is already flying by! Here we are in mid-February. It is never too late to start implementing wise financial strategies. Therefore, I wanted to show you this video from Dave Ramsey on “12 Things to Do Differently with Money in 2023.” With inflation soaring, interest rates climbing, and foreclosures beginning to take off, there is no better time to act differently. So, today we will look at 12 must-dos with money.

12 Must-Dos with Money in 2023

1. Budget– You must be intentional with your money. Those that stick to their budget are inordiDately more successful than those who don’t even have one. Be a budgeting person. We cannot control so many things in the world, but we can control where we spend our money. To help, here is the EveryDollar Guide to Budgeting.
2. Budget for Inflation– Set yourself in a good position to insulate yourself from the effects of inflation. You have to take care of your needs. However, you might have to cancel subscriptions and delivery services in order to make the math work.
3. Do NOT wait on Student Loan Forgiveness– Keep paying off your debt. Nobody knows if the student loan forgiveness is going to actually happen. If it does, then you might be able to apply for reiumbursement.
4. Pay off Debts– Both financial and emotional freedom comes with not being indebted to someone or something. Then you can focus on building wealth. Here are FAQs on the Debt Snowball theory.
5. Beware of Buy Now/Pay Later– Always pay 100% of what you are buying. Don’t fall for the easy installment plans. You will pay more in the end.
6.  Pay Attention to Online Spending– Often we buy in the moment, instead of buying actual needs. It is convenient, but you typically end up spending more.
7. Fully Fund your Emergency Fund– Have $1,000 to begin and continue to add to it up to 6 months of spending. It is a safety net. If you have to get into it, then no problem. You have to continue to add to it in order to keep it fully funded.
8. Don’t Stop Investing– Manage your fear. When the market gets better, you will ride the wave up and make more money.
9. Buy a Home if You Need it– Don’t sit on the sidelines. When interest rates go down, you can always refinance. The market frenzy has cooled down, which means there is more stability. House prices have gone down, but house values are steady
10. If Married, Have Joint Checking Accounts– Work as a team toward your financial goals together. Make financial decisions together.
11. Have a “Why” for your Money– It keeps you motivated while working toward your goals. Money is a tool. So what do you want to do with it?
12. Have Hope– Don’t stay discouraged. You can do all of these steps. You are not defeated by money.

Again, follow these 12 must-dos with money in 2023 in order to be wise. These are steps you have control over unlike most of the things happening in the world. Do the work in order to be financially sound.