The arrival of 2023 marks the beginning of new projects, goals to be met and, in this sense, the good management of finances It is decisive in order to achieve the proposed purposes.

A key aspect to start the year with a healthy financial life is to properly manage resources, taking into account that December expenses have an impact on the economy during the following months, especially if purchases exceed our budget.

(Also read: How to save money with record inflation and the new rises of 2023?)

In this, it is important to allocate the money responsibly, without exceeding necessary expenses, so that the sense of pocket is not affected by the bills that arrive starting in 2023. In view of the above, Clariana Carreño, president of DataCrédito Experian shares Five financial tips to start the year off right.

Design a budget to achieve goals

Before defining what you want to achieve in 2023, establish a monthly budget to be clear about both income and expenses. By organizing your fixed expenses for the month, you can determine how much can you save or invest to meet your goals or, conversely, how you should organize yourself to stabilize your finances. The important thing is that from the outset you organize your budget so that it is a friendly new year with your economy.

Prioritize the fulfillment of new purposes

It is very likely that with the arrival of 2023 you want to achieve several goals and, faced with this, the recommendation is to prioritize them taking into account your finances. Don’t make the mistake of acquiring new obligations, only for the desire to check everything that has been proposed for the new year. It is better to know the indebtedness capacity without incurring excessive obligations and set only the achievements that you can meet according to your financial resources.

Use your credit card well

To avoid high interest payments on future invoices, it is recommended use credit cards for what is strictly necessarymake purchases at lower rates, try not to make advances and, if possible, pay a capital to release said obligation.

(Also read: CDT: what is it and why is it a good option to save right now?)

Do not «hang» with the payment of products

To date, 93 percent of the reports in DataCrédito are positive, as a result of the good behavior of Colombians regarding their financial commitments. In this sense, it is important that people continue to pay on time, Avoiding late interest cost overruns.

Saving or having an emergency fund

If by establishing priorities and monthly payments you have the opportunity to save, or reserve a part of your money for something unforeseen, do it. The recommended thing is save at least 10 percent of income and gradually increase this percentage. In this way, when an investment opportunity or an emergency arises, this capital may arise.