6 New Year’s resolutions to stay financially healthy in 2023

6 New Year’s resolutions to stay financially healthy in 2023

The year 2022 is just about to end, and it’s time to make resolutions to make life better in the coming year.

The pressures of soaring inflation, coupled with rising interest rates and concerns about the repercussions of the Russia-Ukraine conflict, have already forced a lot of people to rethink their finances.

In a recent poll conducted by Dubai-based consultancy Insight Discovery, UAE consumers confirmed they plan to adjust their lifestyle as living costs soar. They intend to cut their household and miscellaneous expenses over the next few months, with eating out, weekend activities and luxury spending among the areas to see major spending cuts.

If you also intend to improve your finances in the coming year, Zawya has turned to financial experts for advice on how to start 2023 right, to ensure you won’t encounter any money-related problems. Here’s a list of New Year’s financial resolutions to keep for 2023:

1. Review your household budget

Before anything else, take a look at your budget, including where your money goes each month. This includes reviewing your fixed and regular expenses, how much money you bring home each month and what your priorities are.

“Assess your average monthly income, as well as your fixed and variable expenses,