Year-End Money Moves You Can’t Afford to Miss

Gursi

Alright folks, we're kicking things off today with a hot topic—using up those FSA funds before they vanish into thin air. I tell you, this is like the Cinderella of financial tasks. Got till the end of the year, or poof! It's gone.

Jenny

Oh my gosh, ya know, I always think of FSAs as like ice cream—melt 'em soon or say goodbye forever! Seriously though, who wants to let their hard-earned money just slip away?

Gursi

Right? And FSAs, or Flexible Spending Accounts, are just that. Super flexible. You've got a bunch of stuff you can spend them on—think contact lenses, prescription meds, even bandages. It's like like a tiny first aid kit in your wallet.

Jenny

Band-Aids and contact lenses? That's it? No pet iguanas or spontaneous shopping sprees, I guess?

Gursi

Well, unless you can convince someone that your pet iguana is a healthcare expense, you're you're kinda outta luck there. But hey, at least your contacts rule the roost. And seriously, December 31 is that magical deadline. Miss it, and and say goodbye to those funds.

Jenny

Why do deadlines always sneak up on us, huh? It's like that one friend who's always late for the party.

Gursi

True—and these funds? They're like the mice in Cinderella, working hard behind the scenes, but with an expiration date. So it's it's like, spend them wisely, or they're out the door, no fairy godmother to save ya.

Jenny

Gursi, I want a fairy godmother for my FSAs! But really, don't wait, y'all. Clean out those funds before they say buh-bye.

Gursi

Exactly. Keep an eye on deadlines—you don't wanna let time slip away and then find yourself wishing you had spent a bit more on those healthcare goodies.

Jenny

So true! And remember, FSA funds don't magically roll over like unlimited texting—use 'em, don't lose 'em!

Gursi

So, Jenny, we're moving from preventing meltdowns in our wallets to setting up our future selves with a little gift—retirement contributions. It's like leaving a present for future you, you know, under the tree.

Jenny

Ha, I love that! But like, like, how many people actually remember to do that? I mean, setting up a 401(k) is like trying to remember your New Year’s resolution by February.

Gursi

True. But here's the thing—every dollar you contribute now is kinda like gifting yourself a more comfortable hammock in Hawaii when you're older. You got those annual limits to think about for 401(k)s and IRAs, and maximizing them is key. Think future hammock, Jenny!

Jenny

Right, because who doesn't want a hammock? Or maybe a flamingo pool float—you gotta keep options open! But, seriously, how do you even know how much to put in these accounts without breaking your current budget?

Gursi

Great question. It's about balance. You wanna stretch towards that contribution limit as much as you can, without skimping on, you know, current necessities like avocado toast or rent. It's like a financial limbo.

Jenny

Or a game of Twister, maybe, where you're trying not to fall over. Like, like, do you ever look at that limit and think, "Is this even achievable?"

Gursi

Sometimes it does feel like that. But even small, small steps add up. Imagine this: each little contribution is kinda like building blocks for your future castle—or maybe just good, safe garden gnomes to keep watch.

Jenny

Gnome security system for life, sign me up! I swear they’d be more alert than my old cat. But really, intentional contributions are key, right?

Gursi

Absolutely. You can't—can't underestimate the power of consistent, even if small, contributions. It's like building by bricks—each one counts. Focus on what you can commit to, and you'll be surprised by how much it grows over time.

Jenny

Right, a little here, a little there, and boom—future financial security. Just don't forget that sometimes you have to, you know, adjust. Life changes, and so should the plan. Keep it flexible like, like a gymnast or something.

Gursi

Exactly! And let's not forget to periodically revisit these goals. Give yourself room to improve as circumstances change. Think long-term, but adjust for the here and now, just like lining up that perfect Instagram shot.

Gursi

Alright, as we head towards that year-end finish line, let’s talk check-ups—not the doctor kind. We’re talking financial check-ups, folks. It’s like getting your finances a full-body makeover.

Jenny

Ugh, so true, Gursi. It's like, like you know, you tune up your car, you might as well tune up your bank account while you're at it. But what do we start with?

Gursi

Start with reviewing your insurance policies. Life changes faster than you can can say financial freedom. Marriage? New baby? Better coverage would be essential there, right?

Jenny

Ah, yes, adulting is fun until you have to, you know, adult your policies. But yeah, life's surprises kinda need to be on your radar.

Gursi

Absolutely. And and rebalance your investment portfolio. It’s not just shifting dollars around; we’re talking looking at your goals and investments from a bird’s-eye view. Like, hey, does my portfolio still match my dreams?

Jenny

Totally. And let's not forget, high-interest rates are your frenemies. They can wreck your, you know, wallet’s peace and then help it grow, too. Remember checking those CDs and savings accounts? A stitch in time saves nine, right?

Gursi

Aw, true. And while you’re at it, consider updating beneficiaries. Life happens—things change. Yesterday's best friend might not be today's today's insurance beneficiary. Who knew adulting would have so many dotted lines, huh?

Jenny

For real! Also, if if there’s a chance, why not look into making a charitable donation? It’s like good vibes for your soul and your taxes. Giving can be more than a feel-good showered with butterflies.

Gursi

Exactly. Planning your year-end means setting powerful intentions for a financially sound new year. It's all about securing today, tomorrow, and beyond. Remember... keep it current, keep it smart.

Jenny

Yes! Finance makeover complete. Let’s toast to less stress and more mad money management skills in the new year. Cheers!