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Can you believe that half of the year is over? But good thing is it’s not too late to assess and readjust and make some changes to our finances. So back with us today is money expert Jini Thornton here to help us with our mid-year money checkup.
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Pick Just One Money Goal:
Is it getting a new life insurance policy, or paying off a credit card? Maybe you need to meet with HR to get your retirement plan together, please don’t put off until 2024, you can do something over these next six months. Use these next six months wisely.
Your Health and Dental Benefits As Well As Your FSA:
Over 60% of dental benefits go unused annually, 60% so we don’t when we don’t use our benefits. This is really a good time to kind of check in and say hey what do I need to get done? What do I need to schedule through year? And that FSA, that’s that flexible spending account, that’s money that came out of your prep out of your paycheck that you get to use on your medical expenses if you don’t use it, you lose it.
Look At Your Accounts:
Even if you don’t really fully understand investing, you know when your account is going up and when your account is going down. It’s also a good time just to increase your 401K contributions, even if you’re only increasing it by a few dollars. $10.20 dollars $50 mid-year is the perfect time to reassess what you’ve got going on an
Saving:
2 words when it comes to saving, separation, and automation, what I mean by separation is know thyself. Maybe your savings account needs to be at a separate bank where you don’t have a debit card or online access automation. That money needs to be coming directly out of your paycheck and going into a savings account. A lot of us can’t depend on ourselves to do that transfer. So let’s go ahead and get started. You can start with as little as $5 a paycheck or as much as your budget can afford, but we’ve got to get into that habit of savings. And again, we’re not going to wait until next year to get that.
