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    Money Saving Tips - A White Paper: Techniques I've Actually Used: Thinking About Money, #2
    Money Saving Tips - A White Paper: Techniques I've Actually Used: Thinking About Money, #2
    Money Saving Tips - A White Paper: Techniques I've Actually Used: Thinking About Money, #2
    Ebook29 pages14 minutes

    Money Saving Tips - A White Paper: Techniques I've Actually Used: Thinking About Money, #2

    By Mel Clark

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    About this ebook

    This White Paper contains tips and techniques for reducing your expenses. Techniques actually used by the author to squeeze the family budget into the family income.

    LanguageEnglish
    PublisherClear Thinking LLC
    Release dateApr 27, 2016
    ISBN9781533740724
    Money Saving Tips - A White Paper: Techniques I've Actually Used: Thinking About Money, #2
    Author

    Mel Clark

    Mel Clark writes about personal finance, retirement planning, and martial arts. His blue-collar union family parents raised him and his two sisters in a wonderful environment for children. However, the family was always in debt, always making payments, and never saving. As a result, Mel feels called to share hard-won money lessons with working folks. He wants them to understand they can benefit from saving and investing. They don’t have to be rich to achieve financial independence. He and his lovely wife Linda live near Virginia’s Blue Ridge Parkway. They enjoy ballroom dancing, the occasional camping trip and a silly game called Bananagrams. Mel is graduate of the United States Military Academy at West Point and the Darden School of Business at the University of Virginia.

    Read more from Mel Clark

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      Book preview

      Money Saving Tips - A White Paper - Mel Clark

      Section 1: Introduction

      In this paper are money-saving techniques that my wife and I have used. The money we saved made room in our budget for more saving and for spending on more important things.

      I hope you’ll use them with as much success as we have. And, perhaps they’ll inspire you to create money-saving techniques of your own.

      Enjoy!

      Section 2: Flexible Spending Accounts (FSA)

      Many employers offer flexible spending accounts (FSA) in their benefits package. Federal law allows FSA's to pay most medical-related bills using before tax money. 

      If your employer offers an FSA and you are not using it, you’re giving money to the Internal Revenue Service.

      Unfortunately, by law, the employee forfeits money left in the account at the end of the benefit year. This feature scares off many who would like to use a flexible spending account. They are understandably afraid of losing money.

      There’s no excuse for the rule forcing you to lose unused money. Any reasonable person would allow the excess to roll over into the next benefit year.

      Yet, depending on your income tax rate, you can still come out ahead even if you lose some the money in

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