GREENSBORO, N.C. — While many people start the new year at the gym, it’s important to make sure your finances are in order, too. 

Jeff Jackman, a wealth management adviser in Greensboro for Northwestern Mutual Planning, is helping people stay on the right track in 2023. 

What You Need To Know

  • Save more money as inflation and interest rates are still on the rise

  • If you have student loans, put more money into your savings while there is still a pause

  • Scheduling an initial meeting with Jeff Jackman at Northwestern Mutual Planning is free

When it comes to inflation and the increase of prices, Jackman recommends prioritizing your savings account before spending.

With major purchases like buying a house, “be really cognizant if you're making big purchases and borrowing money right now, and that puts more of a premium on needing to save for those things and put a larger down payment,” Jackman said.

Those with student loans have an extended pause on paying them back.

“If you have credit card debt and no emergency fund and you're making payments on your student loans, you should probably stop. You should probably pay off your credit card debt and build up your emergency fund while you have this nice little six-month extra breathing room,” Jackman said.