Inflation and unemployment continues Plan now for the second half of 2023
Inflation and unemployment continues. Plan now for the second half of 2023. As 2023 continues, there is no doubt that the economic outlook is uncertain. With the FED tightening their policies and unemployment rates on the rise, it is important to take a proactive approach to managing your finances. Here are 10 money moves to consider in 2023:
Though inflation continues to cool, projections still point to elevated consumer prices in the year ahead. What's more, unemployment may rise. Here are the 10 things money pros say you need to do to prepare for a potential economic downturn:
1.Make sure you earn at least 3% on your savings account.
2.Build an emergency fund.
3.Retirement contribution limits went up, so maximize contributions.
4.Reassess your investment goals and rebalance if necessary.
5.Stick to your long-term goals.
6.Look for low-cost stock and bond buying opportunities.
7.Watch your spending.
8.Take stock of your monthly subscriptions.
9Consider meeting with a financial advisor if you feel you need additional financial help.
Update your resume.
10.The contraction of the job market is just starting, and layoffs have been announced for 2023. 11.It is never a bad idea to update your resume and consider some prospective changes in a thriving job market.
If you are struggling with debt and need to reduce or eliminate debt entirely, you may be considering filing for bankruptcy. For a free consultation, call us at 626-