The lightbulb finally goes on (duh!)
Posted on November 17, 2006 5 Comments
I’ve been incredibly frustrated for the past few weeks at how I busted my budget lately.
You see, my orthodontist had some problems with my debit card number for the past several months (I honestly think the receptionist was typing the numbers in wrong, because they’ve always had my right number), so I was charged more than $500 in one month for my braces. Coupled with the $99 eye doctor bill, the $125 dollar physician’s bill and the $79 dentist bill…that’s a lot to absorb in a relatively small period of time.
Don’t forget that I had to pay off the majority of my vacation this month, too.
But last night, the lightbulb went on.
I have a friggin’ flex spending account that I’ve totally neglected!
And there’s some serious cash left to spend.
That means I’ll get more than $700 this month back in my checking account! I can buy Christmas presents within my annual budget and still order contacts! I can get the new pair of gym shoes I’ve been holding off on buying so I don’t blow out my knees again! And best of all, with the money left in the account, I can pay off my braces by year’s end.
Life is sweet when you realize you’ve got extra money set aside.
Don’t forget about your flex spending accounts this holiday season. They may bring you some good tidings.
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5 Responses to “The lightbulb finally goes on (duh!)”
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November 18th, 2006 @ 5:45 am
Hi there! For the first time, I set up a Flex Spending Account. My husband and I never did this before and now that I have it; I am kicking myself because we didn’t do this sooner. We have 3 kids who are constantly in and out of the doctor’s office so I’m sure having the FSA will be a blessing in disguise!
November 22nd, 2006 @ 4:27 am
What’s a Flex Spending Account? Is this like a line of credit?
November 26th, 2006 @ 10:03 pm
A flex spending account is set up through your workplace. You specify an amount to set aside at the begining of the year, a portion comes out of every paycheck and is held, tax-free, from your earnings. Then, when you spend money on health expenses (office visits, prescriptions, OTC medications, etc.), you just send the reciepts in to the flex account, and they put a reimbursement in your checking account. You basically save money because you’re not income-taxed on your health expenses.
November 30th, 2006 @ 12:56 am
Nicole…thank you for explaining that! I was wondering about that myself.
December 28th, 2007 @ 6:50 pm
FSAs are an absolute godsend – I was thinking about seeing my doc this week, but didn’t want to sweat the insurance co-pay. Then I remembered that I can put that on my FSA debit card! Huge selling point. Thanks for the timely reminder, since the end of the year is approaching!
Jerry
http://www.leads4insurance.com