For some employees, the deadline for using the money in your flexible savings account (FSA) has passed. While some plans require that you use your funds by the end of the calendar year, some plans give you until March 15 of the following year to spend the money. So, for those with the March deadline, your chance to spend FSA dollars for the previous year – or lose them – has already passed. One of the reasons that employees leave an average $86 (according to Kiplinger) in their FSAs could be that they aren’t fully aware that this money doesn’t roll over like health savings account (HSA) contributions do.
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Unless you are one of the unique individuals, like my son, who never eats breakfast, chances are you start every day with this meal. Name brand cereals, food bars, and protein drinks can cost a bundle, especially if you get individually-wrapped items. Here are a few ways to save some money on this essential meal and still enjoy good nutrition and taste.
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Whether retirement is possible or not is an important question to ask, but many of us never stop to take a look at the big picture of our finances to answer the question. (David’s Note: Maybe we are too afraid to ask?)
A few weeks ago, over dinner with friends, one of us did ask the question – and it had lead to an interesting discussion. We started talking about how he works in a “young” industry, where age discrimination is pretty much the norm, especially if you don’t climb up the management ladder.
At some point, he said, “I’m forty, and I can expect to have a hard time finding a job in my profession by the time I’m nearing sixty, maybe even sooner than that. That gives me 15-20 years to finish building a nest egg that should be large enough to support me for at least 20 years. How do I do that?”
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One of financial realities that many forget to consider is inflation. This is because inflation is relatively sneaky. You don’t see it in your taxes, and you don’t write a separate check for it. Instead, inflation manifests itself as a subtle reduction in your purchasing power. Think about what you could buy with $5 10 years ago compared to what $5 will get you today. I remember when you could buy penny candies and when gas was right around $1 a gallon. Those days are long gone — thanks to inflation.
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If you’ve got school age kids, you know what a challenge summer vacation can be, both on your wallet and your patience. Camps and other activities add up quickly and it can sometimes seem like a challenge to think of ways to cure boredom without spending money. Here are a few tips from this mom of five on how I keep summer vacation from eating up all my cash.
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You may or may not have heard of micro-lending, the hottest new trend in global finance, but it is changing the way people borrow, lend and donate. Boiled down, micro-loans are small loans, generally from $100 to $1500, made to the working poor or other needy individuals who are unable to borrow money through traditional routes. Micro-lending first became an avenue for investors by helping impoverished individuals in third world countries—particularly women in rural areas—to borrow money for business, agricultural and educational ventures. The idea has spread so that you can now help individuals both far away and next door see their dreams become a reality. While some micro-lending will earn you a return on your investment, others are simply loans that will be repaid at dollar value, and some are actual gifts. No matter what, you can feel good about where your money goes. Check out the following four websites for ways to lend or donate your money:
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