2023 Review - Finance

One of the greatest improvements I made in my finances was not about having a big income, but rather taking my financial planning to the next level. This realization came out of nowhere as I began planning for my children’s education. I realized that I had not planned my finances well, such as keeping my money in a savings account that offered low interest rates. Therefore, I decided to take a closer look at everything related to finance, conducted some tests on my own, and made various improvements, including:

• I split half of my USD income into Wise to earn high interest and later into stock interest since Wise released this feature in the current year.
• The other half of my USD income goes into MooMoo to earn fund interest and invest in some USD stock.
• I opened a new bank account that can hold USD to lower all the fees and currency lost.
• I opened another bank account that yields better interest than my current bank and transferred my family’s entire savings to it.
• I began monitoring the cryptocurrency market and earned back my original fund.

It took a considerable amount of my focus, but the results were quite rewarding. I am now more sensitive to market news and am always looking for better ways to earn higher interest rates. This is one of the biggest rewards I have gained in 2023.