{"id":3558,"date":"2022-12-08T16:15:00","date_gmt":"2022-12-08T16:15:00","guid":{"rendered":"https:\/\/www.beyondfinance.com\/blog\/?p=3558"},"modified":"2022-12-08T16:15:00","modified_gmt":"2022-12-08T16:15:00","slug":"six-budget-hacks-you-should-know-for-2023","status":"publish","type":"post","link":"https:\/\/www.beyondfinance.com\/blog\/six-budget-hacks-you-should-know-for-2023\/","title":{"rendered":"Six Budget Hacks You Should Know for 2023"},"content":{"rendered":"\n

You may read that headline about budget hacks and think you’re good heading into 2023. Hold that thought. What do they say: “Another year; another dollar?” <\/p>\n\n\n\n

If 2022 is any forewarning, each day was worth several more dollars because of rising interest rates and inflation bloating prices to maximum density. Since COVID-19 began, we have adjusted to the “new normal.” U.S. household debt skyrocketed to $15.2 trillion<\/strong><\/a> during the height of the pandemic. That’s measured against $12.7 trillion<\/strong> before it all began. <\/p>\n\n\n\n

Americans have never had more debt or struggled to pay it off. Wouldn’t you agree we need all the budget hacks we can get? Good thing you’re here because the brilliant minds at Beyond Finance<\/a> have put their heads together for a must-bookmark blog post. <\/p>\n\n\n\n

Here are the six budget hacks you should know for 2023<\/h2>\n\n\n\n
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Fair warning<\/strong>: Some of these will sound familiar. Others may catch you by surprise. One thing is for sure. They wouldn’t be budget hacks if they didn’t work. It took you time to get into these financial straits. Consider taking some time to get out too. <\/p>\n\n\n\n

1. Shop Off-Season<\/h2>\n\n\n\n
\"shop<\/figure><\/div>\n\n\n\n

Let’s start with something fun. Most people love shopping. And those who don’t love the gifts they get when someone else does. But why do you have to shop at the last minute or in the heart of the rush at the mall? <\/p>\n\n\n\n

Consider holiday shopping in September to get your savings to take off. Get that birthday present a few months earlier. (It’s not like you didn’t know it was coming.) You know that swimsuit you want? Buy it now, like during the winter. Your clothing will be on sale, and hardly anyone is buying it, so you have more selection. <\/p>\n\n\n\n

2. Redefine Needs and Wants<\/h2>\n\n\n\n
\"Money<\/figure><\/div>\n\n\n\n

Yes, everyone “needs” a fancy coffee at that place down the street. But be honest with yourself, do you really “need” it or “want” it? If you can separate needs from wants, you would be stunned at how much money you could save in one year. You need<\/em> a roof over your head and clothes on your back. <\/p>\n\n\n\n

Because of convenience and impulse, you only want that coffee or to go out to eat for the fifth time this week. Create some discipline and make a game out of it. Every time you fight purchasing a “want,” put that amount in savings. Again, be prepared for a shock in the best way possible. <\/p>\n\n\n\n

3. Practice the Pause<\/h2>\n\n\n\n
\"2023<\/figure><\/div>\n\n\n\n

This is a mental game, and you can do it! The next time you see a “want” and know you have money in the bank, practice the pause. If it’s frivolous stuff, carry it around the store and think about it. <\/p>\n\n\n\n

For items below $100, give it a day or two. For anything under $1,000, wait a week. What you will see happen is the things you believe that you must have at that moment aren’t as important as you thought. Be kind to your money and watch the returns come in. (Or, better yet, stay where they are.) <\/p>\n\n\n\n

4. Become Eco-Savvy <\/h2>\n\n\n\n
\"Save<\/figure><\/div>\n\n\n\n

Before you think anything is wrong with these budget hacks, here’s one you should consider–and it’s simple. Energy efficiency is a money saver. <\/p>\n\n\n\n

The U.S. Department of Energy estimates the average household can save 25% on all utility bills <\/a><\/strong>with a couple of easy fixes. Those include: <\/p>\n\n\n\n