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This year has been full of economic uncertainty for many. High inflation has affected the cost of living, making housing, food and gas more expensive. Now that we’re nearing the end of the year, people can set financial goals for 2023. Look at the current state of the economy and use it to shape your goals. This may mean being realistic about what changes you need to make and questions you need to ask yourself to make home ownership, investing, and saving possible if they are part of your 2023 goals.

It’s been quite a year. In 2022, we’ve lived through high inflation, a low stock market, a raging housing market, and the Federal Reserve continuing to raise interest rates. While we don’t have a crystal ball to predict what will happen to the economy next year, we can use this year’s events as a guide; things may continue to be rocky.

If ownership and investing are on your list of goals for 2023, here are some questions to ask yourself before you pull out your spreadsheet, money apps, or notebooks.


Whether you’re aiming to buy a new home or rent a new place next year, there’s a lot to consider. For example, 30-year fixed mortgage rates rose to 6.90% from an average of 3.45% in January, thanks to inflation and the Fed rate hike in October. The Fed has already raised interest rates by 75 basis points four times this year. That, combined with a housing shortage, pushed the national median home price above $400,000 for the first time, according to the National Association of Realtors.


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