Author Katrina Shanks, CEO Financial Advice NZ Article originally published in Stuff.co.nz.
OPINION: All the predictions are the same: 2023 is going to be a tough year for everyone as high inflation and higher mortgage rates put the squeeze on the cost of living.
Nothing will be immune, though the effects will be greater or lesser depending on individual circumstances and how prepared we are.
Unfortunately, there’s nothing individuals can do about this, but there are several steps you can take to help you get through and come out the other side in reasonable shape.
I wrote here earlier about three ways to help you survive 2023, including tips on budgeting to help you live within your means, setting goals to help manage your money, and making sure you protect what you have by being insured and having an emergency fund.