It is that time of year – you are making lists for everything: gifts to buy, parties to attend, food to prepare, how about your “End of year financial checklist”? There is a lot of money to be spent at the end of the year; I don’t want you leaving some of your hard earned cash on the table. Here are a few items to check:
1. Donate to charity. December 31st is the deadline for making deductible charitable donations. I know, you have been thinking all year about donating to that charity – do it now.
2. Max out your deductible contributions. Many people base their payroll deducted contributions to their company match, which is the wrong thing to do if you can afford to contribute more. You are paying Federal Income Tax when you could be paying yourself.
3. Use your FSA account. Many employers offer Flex Spending Accounts for health care – have you used all of yours? Go buy those new glasses or get your teeth cleaned. Don’t leave this money on the table.

I’ll have more end of year Financial Checklist items for you to consider later this week.

disclosures:http://www.hechteffect.net/?page_id=31