2023 is here and that means getting ready for whatever is to come. Being financially mindful is important for starting a new year. Starting a new job at the beginning of the year may force you to get your finances in order. Or if you’re moving into a new home, you need to know how to budget. There are many resources to use for preparing for your next 12 months. Lee Journals lists how to budget for the New Year.
Cut unnecessary expenses
If 2022 taught you anything, it’s to cut down on unnecessary expenses. Don’t buy what you’re not going to use. Balance out what you owe in your account. This is especially important when buying groceries. Sometimes entertainment can be a big expense. If you’re paying too much for cable, settle for a bundle package. Hulu and Disney+ offer bundle packages for your selected needs. SlingTV and Youtube Premium are great for sports. Or Netflix and chill on the weekends.
Write down valuable goals (short and long-term)
Write confident goals down in your planner. Sometimes we write goals that are mindless, but not mindful. In this unsure time, it’s best to write goals that you can accomplish within a month. Ever heard of working smarter, not harder? Think of your financial burdens this year and make a note of them. If you want to pay off your credit card bills, make that a primary goal for January. Or if you have medical bills, make that a first primary. Complete goals that will eventually lead to long-term goals. After you complete your short-term goals, prepare for the end result. For example: saving up for a new car.
Check out trends this year
Trends change every year. 2023 will be the year we learn how to live with inflation. Be prepared to make budget changes with shopping. Prices may continue to increase in recent years. Start saving enough money for whatever you have to spend. That means saving more for groceries and gas. If you want to skip time for gas, invest in an electric car. Learn to buy food that is going to last you for some time. For example, instead of just buying cereal, buy a large container of oatmeal. Consider buying in bulk if it’s necessary. A Costco membership can come in handy. Remember to stay up-to-date with financial news.
Buy and Sell Items
A new year also means buying and selling. Do an early winter cleaning by selling clothes you don’t need. That way, you can bring new items to your closet. There are several apps besides eBay to help you sell the right items. Meta Marketplace is great for free listings. Nextdoor is for local sales and OfferUp is good for buyers. For selling designer items, choose Poshmark. Make sure your items are in good quality shape, before selling them. Also, shop wisely wherever you go out. Clearance sales are sometimes your best friend. For more information, look at The Best 6 Apps for Selling Stuff.
Final Thoughts
Managing money isn’t for the faint at hard. Budgeting takes self-control and determination. Staying strict with your goals will give you great results. Never forget that. Once you apply these ideas, your budget will fall into place. Trust the process with each goal you complete. Remember that 2023 can be unpredictable. So, be prepared for setbacks. Find ways to keep your finances in mind with calendars and notifications. Don’t get too stressed, and have fun!
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