Financial Friday: Fall financial checkups
Huntsville, AL (AP) - Fall is officially here. This is a great time to stop and look at your finances before the holidays and the start of 2022.
WAFF talked to LeJuan George, Senior Business Development Officer at Redstone Federal Credit Union. He offered these fall finance tips.
- Use up those flex dollars for medical expenses: If you have money just sitting there, unused, use it. But Keep a receipt!
- Prepare for open enrollment season.
- Consider signing up for Flex accounts, life, and disability insurance. Also, update your health insurance options.
- Look at your health spending this past year and try to determine how much you might need for the next year.
- Boost your retirement savings: Saving early pays off in the long run.
- 401(k), try to make your allowed contribution by the end of the year.
- Make donations: A great way to lower your tax burden is to make charitable donations. Donate to a qualified charity, the donation is tax-deductible if you itemize your taxes. (Make sure to keep your receipt!)
- Bottom Line: Take time to look over your finances now before the rush of holidays and the end-of-the-year.
For more ways to save be sure to tune in at noon every Friday for WAFF 48′s “Financial Friday” segment.
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