A few financial tips (in no particular order) as we move towards a new year:
· Eliminate Debt: There is no such thing as good debt. Start with your smallest debt to gain traction, and do whatever is necessary to not be a slave to lenders going forward.
· Flexible Spending Account (FSA): If your job offered you a raise of $640 a year for going to the doctor as usual, would you take it? Well, you can put $2,650 into an FSA (on scheduled payments directly from your check) that pays your medical bills throughout the year that is TAX-FREE…that’s a free $640 that you’re either going to spend, or NEED to spend anyhow.
· Start an Emergency Fund: 3-6 months is about right. Make sure your rainy day doesn’t ruin years of hard work.
· Reach out to a Financial Adviser: We pay people to assist us in so many areas of our lives, but then think we can handle our retirement and investments on our own. Seek out an Expert in the area you need it most.