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Saturday, January 15, 2011

30 habits to break by 30 from LearnVest #26

After recently reading about Alexa von Tobel's site
, I decided to check it out. The site offers tons of different sections to explore: bootcamp programs, living frugally or a money tune up area to name a few.

There is an amazing feature "budget for your life" where you can input all your expenses, your salary and taxes and come out with a budget in this great little pie chart. You can truly understand and visualize where your money is going and it even has little red flags if there is an indication of a problem for example: you aren't saving enough etc. Also, I stumbled upon a quick list of items under an article titled "30 habits to break by 30" which had some great pointers.

#26 was particularly interesting because it stated Ignoring your FSA. If you are lucky enough to work for an employer who offers a Flexible Spending Account, take a long look at your out-of-pocket medical expenses and see if you can't lower your costs by using pretax dollars to fund qualified FSA expenses (which can include doctor visits, prescription co-pays, braces & glasses).

This is something that I really need to look into and understand better because I can't help but feel like each time I get a prescription filled or go to the doctor that I'm getting robbed! I have tried to record doctor visits and amount spent on medical expenses but I must admit that I have fallen behind and I think moving forward I have to be more on top of it. Next week at work I will make sure to log-into my account and try to better understand the options. Overall, LearnVest really has some relevant articles and the concept of empowering young women financially is something I love!

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