Art Rainer

7 Smart Money Moves to Make in January

Welcome to 2023! At the start of most years, we find ourselves motivated to make some big strides in our finances. While some may downplay this sense of excited, let me encourage you to take full advantage of it. Don’t waste your desire to do something different this year. If you are looking for a few ideas, here are some smart money moves to consider:

1. Set 12-week goals.

Most people focus on annual goals, only to watch them fade away. In the book, 12 Week Year, authors Brian Morgan and Michael Lenington suggest setting 12-week goals instead of annual goals. Personally, I like this concept and am trying it for 2023. Join me.

2. Determine where you want to give.

Consider where you sense God leading you to give. I recommend starting with your local church. Then, consider what organizations are doing Kingdom work about which you are passionate. Of course, there are probably several. You could narrow down the organizations even further by determining what specific geographic area or country has God placed on your heart, and who is doing Kingdom work about which you are passionate in that area.

3. Automate your finances.

Eliminate as many “I forgot” financial moments as you can. Automate every financial move possible. I certainly do. You can automate your generosity, bill payments, additional debt payments, sinking funds, other savings, and retirement savings.

4. Pay off any Christmas debt.

If you went into debt this Christmas season, put it in your debt snowball and pay it off as soon as possible. Avoid those significant interest charges.

5. Audit recurring charges.

Go through your past few months’ expenses. Identify any recurring charges that relate to services you no longer use. According to recent studies, American spend significant dollars on subscription services and often underestimate the amount spent each month. Cancel all subscription services you no longer use.

6. Read a book on money.

Start the new year by increasing your financial literacy. Financial literacy is extremely low in the United States. Consider increasing your financial understanding so you can better steward the resources God has entrusted to you.