The Star: Managing Cash in 2023

StarBiz reached out to Kimberly to find out how she plans to manage her finances in 2023 and the tips she offers her clients. 

Kimberly talks about where she places her own money based on the current market conditions and to her clients she advises against investing in gold or gold funds as it is “best stored in its physical form for its cultural value”. 

She also cautions against investing in cash trusts from trust companies as it is unregulated as an investment. Cryptocurrency is also not advisable as the third party and unlicensed trading platforms are not reliable and could expose the user to potential scams. 

In terms of money management, the 2 options are to either increase income or reduce expenses. For those who are managing their personal finances well, Kimberly advises to invest aggressively in equities as the current market is weak at this time.