Don’t Miss Your Chance To Make Smart Money Moves In December!
With the end of the year approaching, there are some smart money moves that you don’t want to miss!
Here is one way you can instantly pump up your savings or retirement that you might completely overlook. This December make improving your financial picture a priority with this one smart money move.
Save your holiday bonus
According to a Bloomberg survey of HR staff and executives last year, 42% of companies plan to give out holiday bonuses to their employees. If we assume that percentage holds true this year, a lot of people are getting a little extra before the end of the year. If you’re one of the lucky workers getting a monetary “thank you” from your boss, it’s a no-brainer to put that money in savings. It isn’t money that you’re depending on (hopefully), so it should be relatively painless to save it for the future.
Consider opening an IRA, which can give you an immediate tax break and allow your money to grow tax-deferred from now until retirement. You can contribute up to $5,500 for this year — $6,500 if you’re 50 or older — and you can make a tax-deductible contribution for the 2016 tax year any time between now and Apr. 17, 2017. – CNN Money
Two More Smart Money Moves To Make Before Year End
Small changes add up over time. Take the time this month to evaluate where you stand and make changes that will add to your bottom line in the long run. Here are just two more smart money moves that can help you improve your financial picture.
Give Your Net Worth a Boost
Deadline: Tuesday, December 13
The year is almost over, but that doesn’t mean you can’t still maximize your money for 2016. Whether you increase your 401(k) contributions, make an early mortgage payment or take the time to evaluate your investments, there’s still time to make some important money moves that could help you lower your debt or increase your assets before the year is up.
Max Out Your Employee Benefits
Deadline: Friday, December 30
If you haven’t taken full advantage of your employee benefits, this is your last chance—whether that means using up your FSA money or upping your 401(k) contributions to take advantage of the company match. These benefits can be a big part of your compensation package, so you don’t want to miss out. – Learn Vest
Have you taken time to look over your finances and benefits this month to see what you can do to build your wealth!