Annual Savings Strategy Little – Smart Money Moves You Still Have Time To Make Before Dec 31 Max out retirement contributions Increase 401(k)/IRA contributions to lower taxable income and boost long-term savings. Top up your HSA or FSA Contribute pre-tax dollars and use remaining FSA funds before they expire. Harvest tax losses Sell underperforming investments to offset capital gains and reduce your tax bill. Make charitable donations Cash gifts, clothes, furniture, or appreciated assets can qualify for deductions. Prepay deductible expenses Pay mortgage interest, property taxes, or medical bills now to claim deductions this year. Use your annual gift tax exclusion Gift up to the annual limit per person to family or friends tax-free. Review and rebalance your investment portfolio Trim overweight sectors, lock gains, and align with your risk strategy for 2025. Spend remaining business expenses Invest in equipment, software, training, or marketing to reduce taxable business income. Claim available credits Check eligibility for energy-efficient home upgrades, education credits, or EV purchases. Update beneficiaries and estate documents Confirm beneficiaries on insurance, retirement accounts, and wills before year-end. Review your insurance coverage Adjust life, health, and home coverage to avoid overpaying and close protection gaps. Set financial goals for next year | Facebook family financial planning 🧾 #family_savings_tips