Use FSA dollars. If you have a calendar-year flexible spending account (FSA) or other health spending account through your employer, check the balance and use up the money in the account to avoid losing it.*
Save year-end bonuses. Rather than go on an impulsive spending spree, stash a year-end bonus or financial gift in your savings account, where it can grow.
Max out retirement plan contributions. If you have an employer-sponsored retirement plan, you may want to contribute up to the maximum before the end of the year. Or consider increasing your paycheck contribution a percentage point or two.
Make charitable donations. If you’re planning to itemize charitable gifts on your income tax form in 2015, donations made by the end of 2014 may lower your tax bill.
Making money-smart moves now can help you end this year on a high note and be in a good place to kick off the new year. Look to Navigator Credit Union for more helpful ways to save and manage money
wisely — now and all year long.
* Depending on the rules in your employer’s plan, you may be able to carry up to $500 forward to the following year.
Please note that neither this financial institution nor any of its affiliates give tax or legal advice. Consult your tax advisor regarding your individual circumstances.