The year 2022 is coming to an end, and now is the time to plan for whatever 2023 will bring. According to economist.com, much of the world will be in a recession next year. The prediction may sound terrifying but it doesn’t have to be if you can make some simple changes now.

Forbes has compiled the top three financial to-dos that will set you up for success in 2023.

The first to-do on the list is to evaluate your credit cards. Recently the Feds raises interest rates. This means keeping a balance on your credit card is now more expensive. Experts say to check your interest rates to see which ones will be more expensive to use if you don’t pay them off in full each month. Try asking for a lower interest rate and ditch cards you do not use. Just remember, canceling a credit card can negatively impact your score.

Second on the financial to-do list is to dive deep into your budget. Look at your finances to see where you can improve. The financial evaluation should include cutting down on expenses. For example, you can reduce your monthly subscriptions. Go through your bank statements to see how many you have and discontinue the ones you barely use. Afterwards, check your emergency fund. If its running low, start putting back a little more. Start small so you can stay calm.

Last on the to-do list, review your investments. Take a look at your 401k contribution limit. According to Forbes, if you have yet to reach the contribution limit of $20,500, you should make an additional contribution before the year ends. Experts also advise to consider alternative investments reconsider investing in cryptocurrency.

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