1. The Bite of Inflation
Prices climbed in 2021 at the quickest rate in nearly four decades, and inflation appears poised to be Americans’ top economic headache in 2023. Strong consumer demand, lingering supply-chain snags and the spread of the Omicron variant all threaten to keep prices climbing sharply this year.
Many of us are noticing the pinch at the supermarket, but there are practical ways to trim your grocery bill. One free app, Fetch Rewards, hands out gift cards just for buying everyday items — from toilet paper to more than 250 other products stocked at grocery stores.
Here’s the process: After installing the app, snap a photo of your receipt showing you purchased an eligible brand. In return for that simple action, you’ll collect points that can be redeemed for gift cards to retailers like Amazon or Walmart.
You can download the free Fetch Rewards app here to begin earning gift cards.
More than a million people have already tried it, so it’s obviously working for a lot of shoppers.
2. Climbing Rent and Housing Expenses
Rent is soaring! In some markets, rents climbed 10, 20 or even 30%, and home prices keep moving upward too.
Thinking about buying a home? Then there’s something you should start focusing on right now: your credit score. It may sound dull, but it matters a great deal if you plan to apply for a mortgage down the road.
A stronger credit score usually translates to a better interest rate on your loan. Over the life of a 30-year mortgage, a better rate can save you tens of thousands of dollars.
If you want to repair your credit or give it a lift, learn what truly affects your score and take targeted steps to improve it.
this is totally safe.”
3. A Volatile Stock Market
What will stocks do in 2023? No one can say for sure — if we had that kind of certainty, we’d all likely be wealthy already.
The market performed well through parts of 2022 even with COVID-19 still presenting challenges. For example, the S&P 500, the Dow Jones and the Nasdaq each logged double-digit gains. In plain terms, many investors saw notable returns.
We can’t predict 2023’s exact path, but most analysts aren’t forecasting a market collapse. So if you’ve been hesitating, it may be a good time to consider getting started with investing.
Whether you have $5, $100 or $800 to spare, you can begin investing with Robinhood. Both newcomers and experienced traders like it because there are no commission fees — you can buy and sell stocks without transaction charges. The platform is also very user-friendly.
Even better: when you sign up and fund your account (which only takes a few minutes), Robinhood gifts you a random share of free stock. That share could be worth anywhere from about $5 to $200 — a handy kickstart to your portfolio.
Also consider reading our tips to survive 2023 as you plan your financial moves.
4. Increasing Auto Insurance Premiums
Expect car insurance rates to rise in 2023, according to various industry sources cited in the press.
Why is this happening? The general cost of doing business is climbing for nearly every company in the U.S., and insurers are no exception. Those added expenses typically get passed on to customers in the form of higher premiums.
Make a habit of reviewing your insurance rates every six months so you’re not paying more than necessary. But you don’t need to waste time calling every carrier individually to compare quotes.
Try a marketplace like EverQuote to view multiple offers at once.
EverQuote is one of the biggest online insurance marketplaces in the U.S., letting you see top options from over 175 carriers in one place.
Spend a few minutes answering questions about yourself and your driving history. Based on that info, EverQuote will surface the best recommendations for your auto policy. In just minutes, you could potentially save up to $610 a year.
Jordan Ellis is a senior writer at Savinly.
