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It’s Monday, Mondays on Get Up Mornings, y’all, I’m Erica, Campbell and it’s Monday. Monday. It’s the holiday season. So with so many of us focused on Christmas, the holiday season is easy to forget about your finances. Alright guys, so the money expert is here Janine Thornton is here to tell us about money moves we need to make before 2024.
So listen, let’s get into it cause we all trying to save some coins. In the past, college financial aid forms came out in October. The FAFSA for 2024 isn’t scheduled to come out until December 31st. What should we be doing now to prepare for the financial aid season?
And you know Erica? This is really interesting. So the Department of Education is having a problem getting the FASA that’s the free application for federal student aid Updated and released. I don’t think this has ever happened before, but I think we need to think about what’s at stake here, because this form is really important. This is billions of dollars that are at allocated for need-based aid. We know about that. Pell Grants work study even certain fully backed student.
Loans are distributed because of the FAFSA. So because they can’t get it together and get this form released, we’re going to have to be very vigilant. So what we need people to do. Please, please make sure you’re checking the website studentaid.gov studentaid.gov because we want to make sure we’re clear when the forms are released. This money is given out first come first serve basis, so you want to be like, oh, I’m going to get to an in February. You can’t wait. You got to lose very, very quickly. So let’s make sure we set a reminder to check that website.
Love that. Love that. OK, what year end money moves do we need to make with our employers?
So right now this is really the season of use it or lose it. And what I mean by that is like your benefits, you may have certain vision benefits or dental benefits you got to use them or you’re going to lose it. For those of us who have that. Like I say, that’s called that flexible spending account. Love, love, love that. So that’s when you’re able to like, buy your prescriptions, buy certain over-the-counter drugs.
If you don’t use it, you’re going to lose it last thing. Maybe it’s a good time to increase Your 401K. So let’s lean in and get those benefits used up before the end of the year.
A lot of people listen to the show. Are entrepreneurs, right? What should they be doing before the end of the year specifically?
I know, right? So to my fellow entrepreneurs, I am one of you. I’m gonna give you a couple of things. Don’t get overwhelmed by This list just Take a couple of things off the list that You’re going to focus on before your end. What a great time to open a business savings account and decide what percentage you’re going to save every month in 2024. Please review and assess 2023 by how did you do? Did you have a good year? Do you have some extra money that you need to spend before the end of the year so you don’t have to pay a bunch in taxes and then last consider doing a budget for 2024. We ran when we’re intentional. So let’s carve out some time to be intentional before the year wraps up to all of our entrepreneurs.
