2022
The Monthly Beat | Quick Tips
QUICK TIP 1
MANAGING A PLAN AROUND SAVING & SPENDING For those with a family or for those who might grow their family in the future, managing a plan around saving and spending will provide the peace of mind to adapt to growth. When thinking about saving and spending, remember that your total compensation in the workplace includes a lot of tools and resources to help you! Here are some things to consider when building a savings plan for the future: 1. Prescription costs can vary. With more people in your family, you might run into the need for both temporary and routine prescription regimens – and they can add up! Do your research each time you reenroll in benefits to find the best route for prescription shopping. 2. Care for children, disabled or elderly dependents is costly. So costly, in fact, that it can be a deterrent to some people continuing their full-time job. Consider sourcing care options now and building it into your savings budget. Also review your benefits to see what options you have in terms of tax-advantaged spending accounts for dependent care. 3. Preventive care and wellness checks are completely free with most medical insurance plans. Maintaining good health with regular checkups will help you avoid costly and life altering challenges in the future. 4. Think about retirement even if you’re just starting out. There’s no time like the present, and that’s especially true when it comes to retirement planning. Retirement savings plans can be available through an employer or through your own bank. A little goes a long way when you’re just starting out. Not to mention that starting good saving habits now will help protect your mental health from financial stress in the future.
QUICK TIP 2
THE FAMILY AND MEDICAL LEAVE ACT (FMLA) When you or a loved one experiences a serious health condition that requires you to take time off from work, the stress from worrying about keeping your job may add to an already difficult situation. The Family and Medical Leave Act (FMLA) may be able to help. Whether you are unable to work because of your own serious health condition, or because you need to care for your parent, spouse, or child with a serious health condition, the FMLA provides unpaid, job-protected leave. Leave may be taken all at once, or it may be taken intermittently as the medical condition requires. This guide provides a simple overview of how the FMLA may benefit you. In your time of need, sometimes you just need time. View the FMLA Employee Guide by visiting: https://bit.ly/3KVOu4v.