23 Money Moves to Implement in 2023

It never ceases to amaze me how fast time goes by. The older I get; the faster time seems to move. I can only imagine how fast time moves when you have kids! In keeping with CGS tradition, I like to start each new year with a list of things people can do to ensure they’re in a better financial position.

Since 2017, I’ve been listing out ideas, moves, and strategies to implement. 2023 is no different! I’m sharing 23 money moves to implement in 2023 to make progress in your financial situation! Time will keep going, so we may as well make the most of it!

23 Money Moves to Implement in 2023

#1 Start recession-proofing your finances

I don’t think we can deny the state of the U.S. economy. Layoffs, increased interest rates, lower homebuying demand. All signs that we’re headed to (or already in) a recession. In the article, What Happens If a Recession Comes, I break down what a recession means for the everyday individual.

It’s going to impact some harder than others, but there are things all of us can do to start “recession-proofing” our finances. Set up your budget. Put more into savings. Keep unnecessary spending low. Have a game plan in place if your income situation changes.

#2 Get your savings into a high-yield savings account

Now more than ever, a high-yield savings account is so important. Rates are going up to combat inflation, that means you’re earning more on the money you have sitting in savings.

At the time of me writing this, my high-yield savings account is yielding a 3.00% interest rate! That’s a NICE chunk of change added to my account each month.

My top recommendations are Synchrony (I have them), American Express bank (I also have them), Ally and SoFi.

#3 Invest using dollar-cost averaging

When you have an automatic transfer to your investment account every pay period or month, and that money is used to purchase your investments, you’re leveraging “dollar-cost averaging”.

Dollar-cost averaging means you’re purchasing an investment on a regular cadence, regardless of the price. You purchase when the stock is high or low. Over time, this evens out to a steady return without all the stress.

#4 Leverage a budget that actually works

I’ve heard it so many times: “I never learned how to budget.” I completely understand, because I was never taught how to budget. I had to learn it on my own. But I did. And if I can do it, so can you! Leveraging a budget that actually works can do wonders for your finances.

Let me create a budget plan for you! Right now, and through 1/15/2023, we’re hosting our annual 20% off sale! Complete the Budget Form and use code 2023 at checkout!

#5 Vow to consume personal finance content

Constantly scrolling social media? Is the only TV you watch trash TV? Nothing wrong with either of those things, in moderation! To change your money situation, you have to surround yourself with content, people and things that will help. Make it a point to consume more personal finance content in 2023. Your bank account will thank you.

#6 Stop using your credit cards (unless you’re debt free)

If you’re carrying balances on your credit cards and you’re being charged interest every month, stop using them. It’s costing you, and it’s prolonging your financial freedom.

#7 Start saving for that vacation now

Dying to take a vacation?! It can happen for you! The trick is to start planning and saving as early as you can. That means less can be saved over a longer period of time, not completely destroying your budget. Listen to Vacation Planning on a Budget for my tips!

#8 Increase your retirement contribution by 1%

This is your annual reminder to increase your retirement contribution!

#9 Rollover old retirement plans (Capitalize)

I had previously shared the importance of rolling over old retirement plans. Capitalize lets you do it for free and takes the guesswork out of it!

#10 Subscribe or follow the City Girl Savings Podcast

Over 50 episodes and counting! The City Girl Savings Podcast was released last January and has been such an inspiration for so many! If consuming more inspirational, informational and encouraging finance content is your goal, you don’t want to miss this. Subscribe and follow on Apple Podcasts, Spotify, Google Podcasts and Amazon Music.

#11 Prepare and organize your tax documents

The deadline to file your taxes is in April, but why wait until the last minute? If you haven’t already, start preparing and organizing your tax documents for a smooth filing season this year.

#12 Invest in a money coach
Have you been trying to change your financial situation with no luck? Are you constantly wondering why you can’t follow a budget or control your spending? These just may be a few signs you need a money coach. Just like you’d hire a trainer for your weight, you’d hire a trainer for your finances.

Investing in yourself always brings the greatest results – especially when you’re investing time AND money! Make 2023 the year you invest in yourself by working with a money coach. I’m currently taking on new clients and we have 20% off sale happening through 1/15/2023. Schedule a free financial focus call with me and let’s chat!

#13 Start having money conversations with people close to you

Money has always been a taboo topic in our society, but that’s changing. Money is talked about online, on social media, in the news and in the workplace. It’s time to start having money conversations with people close to you. Tell them about your money goals and struggles. Encourage (but don’t push) them to share as well.

#14 Set your 2023 money goals now

If you haven’t set your 2023 money goals, do it now! It’s already 2023, but that doesn’t mean it’s too late! Seriously. Go set those goals!

#15 Check in on your accounts daily

One of the best ways to feel in control of your money is to know what’s happening with it. You may not always like what your account shows, but I promise you – it’s so much better to know than to act like it will handle itself!

#16 Create your financial filing system

Listen to episode 21 of the City Girl Savings Podcast: Setting Up Your Own Financial Filing System for a step-by-step walkthrough of the process.

#17 Identify your values and align your spending to them

Value-based spending leaves you feeling confident in your purchases without the guilt. Get clear on what your values are and what matters to you. Then, make sure those things are included in your budget, in moderation.

#18 Listen to an abundance meditation on a regular basis

I admit I want to be better with this, but whenever I start my day with an abundance meditation, I crush the day! Hearing the words without distraction allows them to sink in. You move differently because you have this surge of motivation running through you. I like this one by Bob Proctor.

#19 Get your financial date nights on the calendar

CGS Team Member Lena introduced the concept of “financial date nights” in her article 5 Ways to Practice Financial Self-Care. Start having dates with your finances! When you decide on your financial date nights, plug them in the calendar and don’t be a no-show!

#20 Try a spending fast for a week or two

Multiple times in the year, I like to go on short-term spending fasts. Sometimes I’ll do them for two weeks, other times I’ll do them for a month. Spending fasts are a great way to get back on track with your budget because you’re not spending unnecessary money during the fast.

#21 Practice intentionality with your money

One of the most underrated money management skills is being intentional. Check out 6 Easy Steps to Be More Intentional with Your Money for some guidance.

#22 Every time money enters your account, say how grateful you are

This may sound a little “woo woo” but showing appreciation for your money can help you manifest more! Every time you get paid or extra money makes its way to you, take a second to show gratitude.

#23 Join the City Girl Savings Facebook Group

Surround yourself with people who are looking to better their lives, careers and money by joining the amazing (and yes, I’m biased) City Girl Savings Facebook Group!

Related: 19 Ways to Improve Your Finances in 2019

Each and every one of the money moves listed above will leave you in a better financial position than when you started! Let’s make 2023 the year you prioritize your money and put the pieces in place to get you to your dream life. You can be debt free. You can build wealth. You can have financial security! You just have to do right by your money, and the moves above will help!

How do you plan to improve your finances this year? Have you implemented any of the money moves above? Share with the CGS community in the comments section below!

-Raya
The CGS Team

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