diff --git a/src/components/Attachments/AttachmentCarousel/index.js b/src/components/Attachments/AttachmentCarousel/index.js
index 00b603cdd7d95..131c57d4c3452 100644
--- a/src/components/Attachments/AttachmentCarousel/index.js
+++ b/src/components/Attachments/AttachmentCarousel/index.js
@@ -78,7 +78,7 @@ function AttachmentCarousel({report, reportActions, source, onNavigate, setDownl
      * @param {Object} item
      * @param {number} index
      */
-    const updatePage = useRef(
+    const updatePage = useCallback(
         ({viewableItems}) => {
             Keyboard.dismiss();
 
@@ -207,7 +207,7 @@ function AttachmentCarousel({report, reportActions, source, onNavigate, setDownl
                             getItemLayout={getItemLayout}
                             keyExtractor={(item) => item.source}
                             viewabilityConfig={viewabilityConfig}
-                            onViewableItemsChanged={updatePage.current}
+                            onViewableItemsChanged={updatePage}
                         />
                     )}
 
diff --git a/src/hooks/useInitialValue.ts b/src/hooks/useInitialValue.ts
new file mode 100644
index 0000000000000..e42ea044e27a1
--- /dev/null
+++ b/src/hooks/useInitialValue.ts
@@ -0,0 +1,9 @@
+import {useState} from 'react';
+
+// In some places we set initial value on first render, but we don't want to re-run the function
+// This hook will memoize the initial value and return that without setter, so it's never changed
+// https://github.com/Expensify/App/pull/29643#issuecomment-1765894078
+export default function useInitialValue<T>(initialStateFunc: () => T) {
+    const [initialValue] = useState(initialStateFunc);
+    return initialValue;
+}
diff --git a/src/pages/home/report/ContextMenu/PopoverReportActionContextMenu.js b/src/pages/home/report/ContextMenu/PopoverReportActionContextMenu.js
index e987eff4c7e8e..d342fc225d63a 100644
--- a/src/pages/home/report/ContextMenu/PopoverReportActionContextMenu.js
+++ b/src/pages/home/report/ContextMenu/PopoverReportActionContextMenu.js
@@ -238,7 +238,7 @@ function PopoverReportActionContextMenu(_props, ref) {
             Report.deleteReportComment(reportIDRef.current, reportActionRef.current);
         }
         setIsDeleteCommentConfirmModalVisible(false);
-    }, [reportActionRef]);
+    }, []);
 
     const hideDeleteModal = () => {
         callbackWhenDeleteModalHide.current = () => (onCancelDeleteModal.current = runAndResetCallback(onCancelDeleteModal.current));
diff --git a/src/pages/home/report/ReportActionsView.js b/src/pages/home/report/ReportActionsView.js
index 8111cfa4b6443..108e750516960 100755
--- a/src/pages/home/report/ReportActionsView.js
+++ b/src/pages/home/report/ReportActionsView.js
@@ -20,6 +20,7 @@ import reportPropTypes from '../../reportPropTypes';
 import PopoverReactionList from './ReactionList/PopoverReactionList';
 import getIsReportFullyVisible from '../../../libs/getIsReportFullyVisible';
 import {ReactionListContext} from '../ReportScreenContext';
+import useInitialValue from '../../../hooks/useInitialValue';
 
 const propTypes = {
     /** The report currently being looked at */
@@ -71,9 +72,9 @@ function ReportActionsView(props) {
     const didLayout = useRef(false);
     const didSubscribeToReportTypingEvents = useRef(false);
     const isFirstRender = useRef(true);
-    const hasCachedActions = useRef(_.size(props.reportActions) > 0);
+    const hasCachedActions = useInitialValue(() => _.size(props.reportActions) > 0);
+    const mostRecentIOUReportActionID = useInitialValue(() => ReportActionsUtils.getMostRecentIOURequestActionID(props.reportActions));
 
-    const mostRecentIOUReportActionID = useRef(ReportActionsUtils.getMostRecentIOURequestActionID(props.reportActions));
     const prevNetworkRef = useRef(props.network);
     const prevIsSmallScreenWidthRef = useRef(props.isSmallScreenWidth);
 
@@ -204,7 +205,7 @@ function ReportActionsView(props) {
         }
 
         didLayout.current = true;
-        Timing.end(CONST.TIMING.SWITCH_REPORT, hasCachedActions.current ? CONST.TIMING.WARM : CONST.TIMING.COLD);
+        Timing.end(CONST.TIMING.SWITCH_REPORT, hasCachedActions ? CONST.TIMING.WARM : CONST.TIMING.COLD);
 
         // Capture the init measurement only once not per each chat switch as the value gets overwritten
         if (!ReportActionsView.initMeasured) {
@@ -226,7 +227,7 @@ function ReportActionsView(props) {
                 report={props.report}
                 onLayout={recordTimeToMeasureItemLayout}
                 sortedReportActions={props.reportActions}
-                mostRecentIOUReportActionID={mostRecentIOUReportActionID.current}
+                mostRecentIOUReportActionID={mostRecentIOUReportActionID}
                 loadOlderChats={loadOlderChats}
                 loadNewerChats={loadNewerChats}
                 isLoadingInitialReportActions={props.isLoadingInitialReportActions}
diff --git a/src/pages/iou/steps/MoneyRequestConfirmPage.js b/src/pages/iou/steps/MoneyRequestConfirmPage.js
index 8b697cde4880d..479f7824afd59 100644
--- a/src/pages/iou/steps/MoneyRequestConfirmPage.js
+++ b/src/pages/iou/steps/MoneyRequestConfirmPage.js
@@ -27,6 +27,7 @@ import useNetwork from '../../../hooks/useNetwork';
 import useWindowDimensions from '../../../hooks/useWindowDimensions';
 import {iouPropTypes, iouDefaultProps} from '../propTypes';
 import * as Expensicons from '../../../components/Icon/Expensicons';
+import useInitialValue from '../../../hooks/useInitialValue';
 
 const propTypes = {
     /** React Navigation route */
@@ -63,10 +64,10 @@ function MoneyRequestConfirmPage(props) {
     const {isOffline} = useNetwork();
     const {windowWidth} = useWindowDimensions();
     const prevMoneyRequestId = useRef(props.iou.id);
-    const iouType = useRef(lodashGet(props.route, 'params.iouType', ''));
-    const isDistanceRequest = MoneyRequestUtils.isDistanceRequest(iouType.current, props.selectedTab);
+    const iouType = useInitialValue(() => lodashGet(props.route, 'params.iouType', ''));
+    const reportID = useInitialValue(() => lodashGet(props.route, 'params.reportID', ''));
+    const isDistanceRequest = MoneyRequestUtils.isDistanceRequest(iouType, props.selectedTab);
     const isScanRequest = MoneyRequestUtils.isScanRequest(props.selectedTab);
-    const reportID = useRef(lodashGet(props.route, 'params.reportID', ''));
     const [receiptFile, setReceiptFile] = useState();
     const participants = useMemo(
         () =>
@@ -77,7 +78,7 @@ function MoneyRequestConfirmPage(props) {
         [props.iou.participants, props.personalDetails],
     );
     const isPolicyExpenseChat = useMemo(() => ReportUtils.isPolicyExpenseChat(ReportUtils.getRootParentReport(props.report)), [props.report]);
-    const isManualRequestDM = props.selectedTab === CONST.TAB.MANUAL && iouType.current === CONST.IOU.TYPE.REQUEST;
+    const isManualRequestDM = props.selectedTab === CONST.TAB.MANUAL && iouType === CONST.IOU.TYPE.REQUEST;
 
     useEffect(() => {
         IOU.resetMoneyRequestCategory();
@@ -101,47 +102,47 @@ function MoneyRequestConfirmPage(props) {
         }
         FileUtils.readFileAsync(props.iou.receiptPath, props.iou.receiptFilename).then((file) => {
             if (!file) {
-                Navigation.goBack(ROUTES.MONEY_REQUEST.getRoute(iouType.current, reportID.current));
+                Navigation.goBack(ROUTES.MONEY_REQUEST.getRoute(iouType, reportID));
             } else {
                 const receipt = file;
                 receipt.state = file && isManualRequestDM ? CONST.IOU.RECEIPT_STATE.OPEN : CONST.IOU.RECEIPT_STATE.SCANREADY;
                 setReceiptFile(receipt);
             }
         });
-    }, [props.iou.receiptPath, props.iou.receiptFilename, isManualRequestDM]);
+    }, [props.iou.receiptPath, props.iou.receiptFilename, isManualRequestDM, iouType, reportID]);
 
     useEffect(() => {
         // ID in Onyx could change by initiating a new request in a separate browser tab or completing a request
         if (!isDistanceRequest && prevMoneyRequestId.current !== props.iou.id) {
             // The ID is cleared on completing a request. In that case, we will do nothing.
             if (props.iou.id) {
-                Navigation.goBack(ROUTES.MONEY_REQUEST.getRoute(iouType.current, reportID.current), true);
+                Navigation.goBack(ROUTES.MONEY_REQUEST.getRoute(iouType, reportID), true);
             }
             return;
         }
 
         // Reset the money request Onyx if the ID in Onyx does not match the ID from params
-        const moneyRequestId = `${iouType.current}${reportID.current}`;
+        const moneyRequestId = `${iouType}${reportID}`;
         const shouldReset = !isDistanceRequest && props.iou.id !== moneyRequestId;
         if (shouldReset) {
             IOU.resetMoneyRequestInfo(moneyRequestId);
         }
 
         if (_.isEmpty(props.iou.participants) || (props.iou.amount === 0 && !props.iou.receiptPath && !isDistanceRequest) || shouldReset || ReportUtils.isArchivedRoom(props.report)) {
-            Navigation.goBack(ROUTES.MONEY_REQUEST.getRoute(iouType.current, reportID.current), true);
+            Navigation.goBack(ROUTES.MONEY_REQUEST.getRoute(iouType, reportID), true);
         }
 
         return () => {
             prevMoneyRequestId.current = props.iou.id;
         };
-    }, [props.iou.participants, props.iou.amount, props.iou.id, props.iou.receiptPath, isDistanceRequest, props.report]);
+    }, [props.iou.participants, props.iou.amount, props.iou.id, props.iou.receiptPath, isDistanceRequest, props.report, iouType, reportID]);
 
     const navigateBack = () => {
         let fallback;
-        if (reportID.current) {
-            fallback = ROUTES.MONEY_REQUEST.getRoute(iouType.current, reportID.current);
+        if (reportID) {
+            fallback = ROUTES.MONEY_REQUEST.getRoute(iouType, reportID);
         } else {
-            fallback = ROUTES.MONEY_REQUEST_PARTICIPANTS.getRoute(iouType.current);
+            fallback = ROUTES.MONEY_REQUEST_PARTICIPANTS.getRoute(iouType);
         }
         Navigation.goBack(fallback);
     };
@@ -211,8 +212,8 @@ function MoneyRequestConfirmPage(props) {
             const trimmedComment = props.iou.comment.trim();
 
             // If we have a receipt let's start the split bill by creating only the action, the transaction, and the group DM if needed
-            if (iouType.current === CONST.IOU.TYPE.SPLIT && props.iou.receiptPath) {
-                const existingSplitChatReportID = CONST.REGEX.NUMBER.test(reportID.current) ? reportID.current : '';
+            if (iouType === CONST.IOU.TYPE.SPLIT && props.iou.receiptPath) {
+                const existingSplitChatReportID = CONST.REGEX.NUMBER.test(reportID) ? reportID : '';
                 FileUtils.readFileAsync(props.iou.receiptPath, props.iou.receiptFilename).then((receipt) => {
                     IOU.startSplitBill(
                         selectedParticipants,
@@ -228,7 +229,7 @@ function MoneyRequestConfirmPage(props) {
 
             // IOUs created from a group report will have a reportID param in the route.
             // Since the user is already viewing the report, we don't need to navigate them to the report
-            if (iouType.current === CONST.IOU.TYPE.SPLIT && CONST.REGEX.NUMBER.test(reportID.current)) {
+            if (iouType === CONST.IOU.TYPE.SPLIT && CONST.REGEX.NUMBER.test(reportID)) {
                 IOU.splitBill(
                     selectedParticipants,
                     props.currentUserPersonalDetails.login,
@@ -237,13 +238,13 @@ function MoneyRequestConfirmPage(props) {
                     trimmedComment,
                     props.iou.currency,
                     props.iou.category,
-                    reportID.current,
+                    reportID,
                 );
                 return;
             }
 
             // If the request is created from the global create menu, we also navigate the user to the group report
-            if (iouType.current === CONST.IOU.TYPE.SPLIT) {
+            if (iouType === CONST.IOU.TYPE.SPLIT) {
                 IOU.splitBillAndOpenReport(
                     selectedParticipants,
                     props.currentUserPersonalDetails.login,
@@ -281,6 +282,8 @@ function MoneyRequestConfirmPage(props) {
             requestMoney,
             createDistanceRequest,
             receiptFile,
+            iouType,
+            reportID,
         ],
     );
 
@@ -312,11 +315,11 @@ function MoneyRequestConfirmPage(props) {
             return props.translate('common.distance');
         }
 
-        if (iouType.current === CONST.IOU.TYPE.SPLIT) {
+        if (iouType === CONST.IOU.TYPE.SPLIT) {
             return props.translate('iou.split');
         }
 
-        if (iouType.current === CONST.IOU.TYPE.SEND) {
+        if (iouType === CONST.IOU.TYPE.SEND) {
             return props.translate('common.send');
         }
 
@@ -339,13 +342,13 @@ function MoneyRequestConfirmPage(props) {
                             {
                                 icon: Expensicons.Receipt,
                                 text: props.translate('receipt.addReceipt'),
-                                onSelected: () => Navigation.navigate(ROUTES.MONEY_REQUEST_RECEIPT.getRoute(iouType.current, reportID.current)),
+                                onSelected: () => Navigation.navigate(ROUTES.MONEY_REQUEST_RECEIPT.getRoute(iouType, reportID)),
                             },
                         ]}
                     />
                     <MoneyRequestConfirmationList
                         transactionID={props.iou.transactionID}
-                        hasMultipleParticipants={iouType.current === CONST.IOU.TYPE.SPLIT}
+                        hasMultipleParticipants={iouType === CONST.IOU.TYPE.SPLIT}
                         selectedParticipants={participants}
                         iouAmount={props.iou.amount}
                         iouComment={props.iou.comment}
@@ -367,15 +370,15 @@ function MoneyRequestConfirmPage(props) {
                         }}
                         receiptPath={props.iou.receiptPath}
                         receiptFilename={props.iou.receiptFilename}
-                        iouType={iouType.current}
-                        reportID={reportID.current}
+                        iouType={iouType}
+                        reportID={reportID}
                         isPolicyExpenseChat={isPolicyExpenseChat}
                         // The participants can only be modified when the action is initiated from directly within a group chat and not the floating-action-button.
                         // This is because when there is a group of people, say they are on a trip, and you have some shared expenses with some of the people,
                         // but not all of them (maybe someone skipped out on dinner). Then it's nice to be able to select/deselect people from the group chat bill
                         // split rather than forcing the user to create a new group, just for that expense. The reportID is empty, when the action was initiated from
                         // the floating-action-button (since it is something that exists outside the context of a report).
-                        canModifyParticipants={!_.isEmpty(reportID.current)}
+                        canModifyParticipants={!_.isEmpty(reportID)}
                         policyID={props.report.policyID}
                         bankAccountRoute={ReportUtils.getBankAccountRoute(props.report)}
                         iouMerchant={props.iou.merchant}
diff --git a/src/pages/iou/steps/MoneyRequstParticipantsPage/MoneyRequestParticipantsPage.js b/src/pages/iou/steps/MoneyRequstParticipantsPage/MoneyRequestParticipantsPage.js
index 4fff1cd310a3e..2d969040725d1 100644
--- a/src/pages/iou/steps/MoneyRequstParticipantsPage/MoneyRequestParticipantsPage.js
+++ b/src/pages/iou/steps/MoneyRequstParticipantsPage/MoneyRequestParticipantsPage.js
@@ -1,4 +1,4 @@
-import React, {useEffect, useRef, useState} from 'react';
+import React, {useEffect, useRef, useState, useCallback} from 'react';
 import {View} from 'react-native';
 import PropTypes from 'prop-types';
 import {withOnyx} from 'react-native-onyx';
@@ -17,6 +17,7 @@ import * as IOU from '../../../../libs/actions/IOU';
 import * as MoneyRequestUtils from '../../../../libs/MoneyRequestUtils';
 import {iouPropTypes, iouDefaultProps} from '../../propTypes';
 import useLocalize from '../../../../hooks/useLocalize';
+import useInitialValue from '../../../../hooks/useInitialValue';
 
 const propTypes = {
     /** React Navigation route */
@@ -47,10 +48,10 @@ function MoneyRequestParticipantsPage({iou, selectedTab, route}) {
     const {translate} = useLocalize();
     const prevMoneyRequestId = useRef(iou.id);
     const optionsSelectorRef = useRef();
-    const iouType = useRef(lodashGet(route, 'params.iouType', ''));
-    const reportID = useRef(lodashGet(route, 'params.reportID', ''));
-    const isDistanceRequest = MoneyRequestUtils.isDistanceRequest(iouType.current, selectedTab);
-    const isSendRequest = iouType.current === CONST.IOU.TYPE.SEND;
+    const iouType = useInitialValue(() => lodashGet(route, 'params.iouType', ''));
+    const reportID = useInitialValue(() => lodashGet(route, 'params.reportID', ''));
+    const isDistanceRequest = MoneyRequestUtils.isDistanceRequest(iouType, selectedTab);
+    const isSendRequest = iouType === CONST.IOU.TYPE.SEND;
     const isScanRequest = MoneyRequestUtils.isScanRequest(selectedTab);
     const isSplitRequest = iou.id === CONST.IOU.TYPE.SPLIT;
     const [headerTitle, setHeaderTitle] = useState();
@@ -71,12 +72,13 @@ function MoneyRequestParticipantsPage({iou, selectedTab, route}) {
 
     const navigateToConfirmationStep = (moneyRequestType) => {
         IOU.setMoneyRequestId(moneyRequestType);
-        Navigation.navigate(ROUTES.MONEY_REQUEST_CONFIRMATION.getRoute(moneyRequestType, reportID.current));
+        Navigation.navigate(ROUTES.MONEY_REQUEST_CONFIRMATION.getRoute(moneyRequestType, reportID));
     };
 
-    const navigateBack = (forceFallback = false) => {
-        Navigation.goBack(ROUTES.MONEY_REQUEST.getRoute(iouType.current, reportID.current), forceFallback);
-    };
+    const navigateBack = useCallback((forceFallback = false) => {
+        Navigation.goBack(ROUTES.MONEY_REQUEST.getRoute(iouType, reportID), forceFallback);
+        // eslint-disable-next-line react-hooks/exhaustive-deps -- no deps as we use only initial values
+    }, []);
 
     useEffect(() => {
         // ID in Onyx could change by initiating a new request in a separate browser tab or completing a request
@@ -89,7 +91,7 @@ function MoneyRequestParticipantsPage({iou, selectedTab, route}) {
         }
 
         // Reset the money request Onyx if the ID in Onyx does not match the ID from params
-        const moneyRequestId = `${iouType.current}${reportID.current}`;
+        const moneyRequestId = `${iouType}${reportID}`;
         const shouldReset = iou.id !== moneyRequestId;
         if (shouldReset) {
             IOU.resetMoneyRequestInfo(moneyRequestId);
@@ -101,7 +103,7 @@ function MoneyRequestParticipantsPage({iou, selectedTab, route}) {
         return () => {
             prevMoneyRequestId.current = iou.id;
         };
-    }, [iou.amount, iou.id, iou.receiptPath, isDistanceRequest, isSplitRequest]);
+    }, [iou.amount, iou.id, iou.receiptPath, isDistanceRequest, isSplitRequest, iouType, reportID, navigateBack]);
 
     return (
         <ScreenWrapper
@@ -120,10 +122,10 @@ function MoneyRequestParticipantsPage({iou, selectedTab, route}) {
                         ref={(el) => (optionsSelectorRef.current = el)}
                         participants={iou.participants}
                         onAddParticipants={IOU.setMoneyRequestParticipants}
-                        navigateToRequest={() => navigateToConfirmationStep(iouType.current)}
+                        navigateToRequest={() => navigateToConfirmationStep(iouType)}
                         navigateToSplit={() => navigateToConfirmationStep(CONST.IOU.TYPE.SPLIT)}
                         safeAreaPaddingBottomStyle={safeAreaPaddingBottomStyle}
-                        iouType={iouType.current}
+                        iouType={iouType}
                         isDistanceRequest={isDistanceRequest}
                         isScanRequest={isScanRequest}
                     />
diff --git a/src/pages/settings/Profile/TimezoneSelectPage.js b/src/pages/settings/Profile/TimezoneSelectPage.js
index 2c47acd58daa6..6bf0c2e974a44 100644
--- a/src/pages/settings/Profile/TimezoneSelectPage.js
+++ b/src/pages/settings/Profile/TimezoneSelectPage.js
@@ -1,5 +1,5 @@
 import lodashGet from 'lodash/get';
-import React, {useState, useRef} from 'react';
+import React, {useState} from 'react';
 import _ from 'underscore';
 import withCurrentUserPersonalDetails, {withCurrentUserPersonalDetailsPropTypes, withCurrentUserPersonalDetailsDefaultProps} from '../../../components/withCurrentUserPersonalDetails';
 import ScreenWrapper from '../../../components/ScreenWrapper';
@@ -11,6 +11,7 @@ import Navigation from '../../../libs/Navigation/Navigation';
 import ROUTES from '../../../ROUTES';
 import SelectionList from '../../../components/SelectionList';
 import useLocalize from '../../../hooks/useLocalize';
+import useInitialValue from '../../../hooks/useInitialValue';
 
 const propTypes = {
     ...withCurrentUserPersonalDetailsPropTypes,
@@ -36,7 +37,7 @@ const getUserTimezone = (currentUserPersonalDetails) => lodashGet(currentUserPer
 function TimezoneSelectPage(props) {
     const {translate} = useLocalize();
     const timezone = getUserTimezone(props.currentUserPersonalDetails);
-    const allTimezones = useRef(
+    const allTimezones = useInitialValue(() =>
         _.chain(TIMEZONES)
             .filter((tz) => !tz.startsWith('Etc/GMT'))
             .map((text) => ({
@@ -47,7 +48,7 @@ function TimezoneSelectPage(props) {
             .value(),
     );
     const [timezoneInputText, setTimezoneInputText] = useState('');
-    const [timezoneOptions, setTimezoneOptions] = useState(allTimezones.current);
+    const [timezoneOptions, setTimezoneOptions] = useState(allTimezones);
 
     /**
      * @param {Object} timezone
@@ -64,7 +65,7 @@ function TimezoneSelectPage(props) {
         setTimezoneInputText(searchText);
         const searchWords = searchText.toLowerCase().match(/[a-z0-9]+/g) || [];
         setTimezoneOptions(
-            _.filter(allTimezones.current, (tz) =>
+            _.filter(allTimezones, (tz) =>
                 _.every(
                     searchWords,
                     (word) =>