Do you have kids? Do you have an FSA?

Holy cow, medical expenses can eat you alive when you have kids! A lot of people feel nervous about using the flexible spending account that their employer offers. I love flexible spending accounts as a way to save for your ongoing medical expenses with pre-tax dollars. They work really well if you have certain medical expenses you always need - such as contact lenses or a monthly prescription. Or if you have kids who always seem to need random medical care...

While these aren't designed as long-term savings vehicles some employers do allow you to roll-over a small amount of money from one plan year to the next. Read your benefit booklet- or have your financial planner do it- and see what the rules are for your FSA.

And if you don't have an FSA offered at work - ask for one! Your employer may not know that this a benefit employees want.

Check out this short video from Words on Wealth about FSAs to learn more!