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America’s wealth coach, Deborah Owens stopped by “NewsOne Now” to share some of her year end money moves which are designed to help you save a few extra dollars as you head into 2015.

Owen’s told Roland Martin and the “NewsOne Now” panel “There are some things that you need to do before 2015 so that you can keep more money in your pocket.”

The financial guru offered the following money moves as a way to help you out:

Maximize your employer sponsored plan contributions

Contribute as much as you can into your 401(k) 403 (B) 457 this and next year. The limit for employer sponsored retirement  plans this year is $17,500 and $23,000 for those 50 and older.  Increase also the amount you defer into your 401(k) for 2015; the limits for 2015 are $18,000 and $24,000 for those 50 and older. And if you can’t reach the max, try to contribute enough to receive your employer’s full match.

Drain your flexible spending account

Use up the money in your flexible spending account (FSA). Yes, the U.S. Treasury Department and the IRS this year changed the long-standing “use-it-or-lose-it” rule; employers can now offer a carry-over of up to $500 in unused health FSA funds to the following year or to continue a grace period option giving employees a 2½ month extension to spend remaining FSA funds, according to the Society for Human Resource Management. But employers aren’t obligated to offer the carry-over or the grace period option.

Donate to charity

Clean out your closet and your attic. If you’re looking for ways to cut your 2014 tax bill and do good at the same time, consider donating to a charity. Of course, if you want to claim these donations for a tax deduction, you must itemize your deductions rather than taking the standard deduction.Listen to America’s wealth coach explain the steps you should take to make sure you have some more dollars in your wallet in  the new year.

Year End Housekeeping

The end of the year also is a good time to review your yearly budget and make sure you’re on track and not overspending, said Fillet. Also, check your emergency fund. And don’t forget to review your estate documents. Did anything in your life change? If so (and even if not), look over your wills, trusts and beneficiary designations, and make any necessary changes

Review your Monthly Services

Do you ever get a sense you’re paying too much for cable TV or Internet service? Now’s a great time to do something about it. Check the competition for all your monthly services to see if you can find cheaper subscriptions that will provide more savings.

Be sure to listen to “NewsOne Now” with Roland Martin, weekdays at 7 a.m. EST and watch at 9 a.m. EST on TV One.

Subscribe to the “NewsOne Now” Audio Podcast on iTunes.

WealthyU: Year End Money Moves To Help You Keep Cash In You Pocket  was originally published on