The pandemic forced us to do a lot of things differently (don’t ask me about what I did in Juarez), and taking care of our personal finances was part of that for many of us. But are you doing the right things? What are the best strategies to help your personal finances in 2023? Don’t worry: I’ve got you covered.
Here’s Five Fast Personal Finance Facts you need to know for 2023:
- 🤖 Automate! - Most accounts of any kind allow auto payments. It’s a smart way to pay your bills on time. Many banks have a similar option with transferring a set amount to your savings or retirement account. Just make sure you’re supervising your accounts instead of, ahem, setting and forgetting.
- 🤕 Disabled Enabled - If your employer offers it, get disability insurance, ASAP. If you can’t work, it can help pay the bills that don’t stop coming.
- 📊 50/30/20 - Experts say to apply the 50/30/20 rule to your finances. In short: put 50% of your income into necessities of living, 30% in discretionary costs and 20% to go toward savings.
- 💰 Matchy Matchy - If your employer offers a contribution to your 401K, try to match it, even if it’s just the minimum amount. It adds up quicker than you realize!
- 💯 Score? - If you were asked, right now, about your credit score, would you be able to answer? Most credit card companies now allow you to check your credit score at any time without it hurting that score. Check your report annually, too!
🔥Bottom line: If you’re not doing any of these things, don’t worry! You’re not alone. A few of these can be fixed with just a few clicks of a mouse or even a few taps on your phone’s screen. So don’t wait. Take care of one while you’re still thinking about it.
Are you already taking any of these steps?
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