Financial Wellness Minute: Make Sure You Use Flexible Spending Account Balances

Get smarter about your money with this Financial Wellness Minute. I'm Jackie Formo, manager from Mid Minnesota Federal Credit Union's Fergus Falls Office. The end of year is approaching quickly. If you have a Flexible Spending Account through your employer, now is the time to plan on how to use those dollars and not lose them. These dollars could be tied to health or dependent care. Here are some suggestions to using your funds:

1. Do you or a family member need to see a doctor? Try to get an appointment or a telehealth visit before year end.
2. Stock up on any prescriptions you need at the pharmacy.
3. Are new eyeglasses in your future? Order a new pair or even sunglasses. Also, stock up on contact lens or supplies.
4. There are many over the counter medications you can stock up on such as pain relievers, cough medicine and more.
5. Hearing Aids, first-aid kits and stop smoking aids such as gum and patches, can also be purchased.
6. If you're a new nursing mom, you can save money on pumps, pads and storage bottles. Along with women's healthcare products.
7. Confirm that your daycare provider has kept current with their billing.

Check your employers plan for specific and deadline dates to submit your receipts. Want to know more or have a weekly financial wellness tip sent to you? Sign up below or, contact your local Mid Minnesota Federal Credit Union Office. Sign Up for a Weekly Financial Wellness Tip Mid Minnesota Federal Credit Union is federally insured by the NCUA and we are an equal housing lender.