. >> reporter: business analyst jill schlesinger says the strong report means the federal reserve will likely raise interest rates again. the bored continues its fight against inflation. >> most economists are predicting within the next six months the u.s. economy will slip into a short and shallow recession. >> reporter: and that could take a toll on the so far resilient job market. bradley blackburn, cbs news, new york. >>> our food for bay area families drive is underway as kpix partners with the community to fight hunger, sharon chen brings you the story of a man and a promise he made as a child. >> reporter: when seth adams loads food into his car, it brings him back to his childhood in the midwest. back then, he could only hope his single mom could afford a whole cart of groceries. >> it was rough, it was waiting at the door, waiting for mymo c bank like this one in san carlos, no guarantee where he and his sister would get their next meal. >> i remember one time we had nothing in our cupboards, and we came home from church and our cup boreds were full. the church had gathered mo

. >> coming up on "cbs mornings," business analyst jill schlesinger with some tips on how to make theost of your money in the new year. i'm wendy gillette. this is the "cbs morning news." . i'm wendy gillette. this is the "cbs morning news." congestion at the source, s relieving nasal congestion and sinus pressure by reducing swelling in the sinuses. try vicks sinex. second date, wish me luck buddy. mouth to mission control. we have a denture problem. over. roger that. with polident cleanser and polident adhesive refresh and secure for any close encounter. if your mouth could talk it would ask for polident and poligrip. what's the #1 retinol brand if your mouth could talk it would ask for used most by dermatologists? it's neutrogena® rapid wrinkle repair® smooths the look of fine lines in 1-week, deep wrinkles in 4. so you can kiss wrinkles goodbye! neutrogena® >>> from cbs bay area news this is the morning edition. >>> we issued a first alert weather day as a major atmospheric river is ringing in plenty of rain. we will track the storm and have more on that in the full forcast. >>> w

jill schlesinger lays out the big three for your 2023. >> have 6-12 months of emergency savings set aside. two, pay down high interest debt to the best of your ability. i know that's hard for people, but tackle it, and it will get done. number three, put as much money as you can into a retirement plan. if you can get those big three accomplished and automate them as much as possible, you'll be far better off. >> on the topic of automation, jill says there are notable apps and resos helpyou pl. as the yewraps upease id to one of od banks. >>> this is new video in the range, showing our neighbors, serving neighbors at the san francisco-marin we can also tell you this is the exciting news, a generous donor has stepped forward. they are not double matching your contributions, they are now triple matching all your contributions that you make through now and december 31st. and you know, as part of our food for bay area families food drive, families are reaching out and helping families in need. as we get ready for new year's eve i caught up with a group of friends who call themselves the space

jill schlesinger is here to break everything down. what should we do right now to save big next spring? >> i think the best way to reduce tax liability is maximize pretax retirement plan contributions before end of the year. most employers allow you to increase contributions. be sure to adjust those after the new year or otherwise you might have a nasty surprise with cash flow. while you are at it, how about looking at the irs.gov website. there is a withholding estimator tool. it let's you understand if you are set aside enough money to pay your tax bill in april. you may want to notify payroll to increase withholding through the end of the year. if you are self employed, maybe you came from work environment a couple years ago and now you are self employed, make sure you made an estimated tax payment or if you haven't, you want to so you can reduce or potentially eliminate tax penalties in the future. >>> to do before 2023 or else they're going to face a penalty. can you tell us what that is? >> this is a scary one. i think a lot of

jill's slicing her schlesinger have a great weekend. >>> we have some rain coming up .pumped. >> i think this is a great weekend to stay inside, make hot chocolate from scratch, maybe decorate the house. it is december. there's no reason not to be decorating at this point. it's a chilly start to our day. many of us in the north bay are waking up to this freeze warning issued by the national weather service. this will stay in effect through 9:00 a.m. i showed this earlier, but this is alive look at what's going on just in our beautiful globe. this will make its debut shortly into this weekend. see this circulating behind me? saturday into sunday that will continue to push its way in from offshore bringing in a plethora of moisture. so we are seeing rain on saturday, sundays forecast and even monday, thanks to that system. it's mostly light scattered showers pushing in from offshore, but it's hit or miss showers all day long both saturday and sunday. so keep that in mind if you live in these local areas. we will see a drizzly set up into this weekend. it does impact a who