Potential Financial Steps for T-Mobile Employees in June
By Kevin Estes
Is It Summer Yet?
The days are getting longer and warmer. It’s nearly stopped snowing in Montana!
Technically, summer is a few weeks away. However, some schools are already out for the year!
Potential Steps for T-Mobile Employees This Month
Financial steps T-Mobile employees might take in June include:
Enjoy end of school year
Replenish emergency fund
Prepare for summer vacation and camps
Submit dependent care reimbursements
1. Enjoy End of School Year
Final exams, papers, and projects are either complete or nearly there.
Remember how the last day of school felt?
It’s also “moving up” season. Treat the graduates you know well!
Next year’s schedules are being finalized. Now is a good time to schedule late summer physicals for student athletes.
2. Replenish Emergency Fund
Millions of Americans take advantage of the long summer days.
Local spending rises for:
Gear - camping, bicycle tune-ups, sprinklers
Water fun - swimming, fishing, boating
Hosting - barbecues, drinks, fireworks
The time and money spent landscaping rises. Nice weather allows for home improvement projects.
Now’s a good time to check emergency / opportunity fund balances. Having three to six months’ of expenses can help fund emergencies and lifelong memories!
For more, check out: Is Your Cash Starving?
Don’t forget: wealth is what you don’t see. Rich is Flashy.
3. Prepare for Summer Vacation and Camps
It’s nearly peak season for vacations.
Summer Vacations
Trips often require:
Travel - flights and/or road trips
Lodging - hotels, Airbnb, VRBO
Meals - dining away from home
If you haven’t scheduled your summer (and fall) vacations yet, considering doing so ASAP.
Remember: Vacation + Disaster = Adventure
Summer Camps
It’s also time to get ready for camp! There are:
forms to complete,
medicines to replace (if expired),
transportation details to iron out…
Many camps let parents fund small accounts for their children. Campers allowed to spend a set amount learn math, forecasting, and prioritization skills!
It’s nice for parents to reconnect when children are away at camp. Schedule date nights!
4. Submit Dependent Care Reimbursements
Dependent care expenses can by heavy in the summer.
Submitting receipts quickly may:
improve cash flow,
help with Back to School, and
ensure funds are received by year end.
Knowing early if there’s a problem gives more time to resolve it!
A dependent care Flexible Spending Account (FSA) generally cannot be used for an overnight camp. The goal of the program is to enable people with dependents to work regular hours.
What’s missing?
Is anything missing from this list? If so, please let me know!
If you’re interested in a review of your specific situation…
Disclaimer
In addition to the usual disclaimers, neither this post nor these images include any financial, tax, or legal advice.
