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Texas A&M Lecturer gives tips how you can be money smart for 2023

As January marks 'Financial Wellness Month' it's never too late to improve financially.
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COLLEGE STATION, Texas — January is ‘Financial Wellness Month’, as we begin 2023, it’s important to take this month to prepare your finances for the year ahead.

According to consumerfinance.gov, a study of 39% of Americans feel less financially confident heading into 2023 compared 2022.

They blamed inflation, economic uncertainty, and credit card debt.

Nick Kilmer is a lecturer for Texas A&M’s Financial Planning Program in the department of Agriculture Economics and says being financially stable starts with budgeting.

“The cornerstone to financial wellness is budgeting. It’s just knowing where is your money coming from? And where is it going? Starting this new year, I think it’s best to take a look at your finances, look at your bank statements, and look at your credit card statements.” Suggests Kilmer.

Kilmer says one way to make sure you are maximizing saving the most money is by paying yourself first.

“Auto-transfer 20,30,40, or 50 dollars each month from whatever account you get your check direct deposited in, typically it’s your checking account and have that auto transferred into a savings account,

so, the money is moving without you doing a thing.” Explains Kilmer.