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Money do's and don'ts: How to stay financially fit in 2023

Money experts say most people fall short by not setting attainable goals.

GREENSBORO, N.C. — A new year means new goals or resolutions. Maybe for you, it’s exercising more or spending less time on social media. For many, it’s saving more money. WFMY spoke with a financial advisor about the best ways to stay financially fit this year.

Money expert Ja’Net Adams is the owner of Debt Sucks University. She helps people tackle debt for a living.

“People just want to be in a better financial position than they were the year before or the years before,” Adams said.

She said folks fall short when they don’t set attainable goals.

“Say you want to save $200 in a month, so then you can go bigger and bigger from there,” Adams said. “Take it one step at a time instead of trying to get it all at one time because that’s just not going to work.”

With tax season right around the corner, Adams recommends holding on to that refund check.

“Take whatever money you’re getting to start what I call the In Case You Are Breathing Fund or emergency fund of at least $1500,” Adams said. “If you can’t do $1500 then do $500. Whatever that tax refund is, use it to build your financial future not to buy more things.”

If you’re looking to gain more income, Adams suggests picking up extra hours at work or finding ways to turn your passion into profit.

“I’m going to say a hobby,” Adams said. “Something that you do for free already but figure out how you can monetize that. You’d be surprised when you start to monetize that hobby it may become a side business or a full-time entrepreneurship venture in the future.”

Lastly, don’t give up. If you fall off, rest, and try again. Make it a goal to not have the same resolutions year after year. 

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