Personal Finance Strategy for 2023

Budget for all your expenses and cashflows at start of the year.
Cut down on discretionary spend
Avoid investing in ultra risk assets like crypto
True up up to 5% of your total portfolio in Gold ,Gold ETF, or from long term perspective invest in sovereign Gold bonds. As risk of global economic recession and geopolitical situation, investment on this traditional assets class is recommended.
Create Emergency fund for any medical contingencies considering the recent Covid impact in some of the countries.
Increase Medical Insurance coverage, if you think the same is not sufficient. Considering the current inflation, its time to reconsider Medical Insurance coverage.
Some of the US Stock are trading at 25% to 50% discount, tap the opportunity and go for some long term investments in these stock if you understand US stock market.
Have some surplus cash to invest, as markets are expected to be volatile in 2023, we may encounter the opportunities to buy some good stocks at discounted rates.
Use excess cash for part payment of home loan as interest rate are showing increasing trend. At the same time be mindful that you do not use substantial portion of your surplus cash for home loan part payment.
Invest your emergency fund in some of the high yield debt funds.