When you receive your tax refund, how do you usually spend it? If you’re one of the many people that views income tax as “extra money,” you might want to change your approach.
By Beth Perry, Federal Retirement Thrift Investment Board
A major benefit of the Blended Retirement System (BRS) is the free money you can now get from your service. Each time you contribute to your Thrift Savings Plan (TSP) retirement account, your service will match it, up to 5 percent of your pay. But your contributions are not automatic if you opted into BRS – they don’t happen unless you choose to make them. And if you skip that important step, you risk missing out on hundreds of dollars in matching this year alone.
Spring break vacations can help make these last few chilly weeks feel much more tolerable. While prices might be lower than during summer months, it still requires a decent amount of funds to jet-set off to an exotic location, especially if you have children. To help you stay on track with longer-term savings goals, we’ve compiled some tips and ideas on how to save on spring break while still getting the retreat that you and your family deserve.