Expect the unexpected in 2023

When you’ve gone through year after year of unexpected events, what else can you do but expect the unexpected?

The cost-of-living crisis, an energy crisis, a major European war, political tumult, wild weather, nation-halting strikes and the loss of a monarch.

It’s fair to say that 2022 was a year of the unexpected. But a golden thread ties much of what has happened in the past 12 months together.

That thread is economic, financial, money based. It has hit us all in the wallets, whether that be through higher bills, struggling investments or unexpected costs.

Despite many years of stable (if lacklustre) financial stability 2022 was the year that a whole host of major issues crescendoed together.

This doesn’t look like it’s going to improve in 2023. As they say, history doesn’t repeat itself, but it often rhymes

Unfortunately, if you’ve come to the column expecting some predictions, I’m going to disappoint you. There is no way of knowing what the next 12 months will bring, but what is key is to be prepared for those unexpected twists and turns, whether that be with your finances or with keeping pace with current events.

Fortunately, one thing we can do is prepare for what is in the diary already. And that is exactly what this column is actually supposed to do!

So, what have we got coming in January 2023?

The month began on 1 January with a new £2 cap on bus fares in England. 5 January is High Pay Day – the day by which most CEOs have earned the entire salary of a median UK earner.

There’s no rate decisions in January, from Fed or Bank of England, but we will get GDP, earnings and inflation updates on 13, 17 and 18 January respectively.

As for political comings and goings, nothing major is pencilled in. We’ll have to wait till March for a fresh Spring Statement from Jeremy Hunt. That being said, it remains key to expect the unexpected!

Wishing you a happy new year from all of us at MRM and Mouthy Money.