Use Up Your Health Benefits Before They Reset
Most health-related accounts and perks operate on a “use it or lose it” schedule.
Flexible Spending Accounts (FSAs)
If you have an FSA, check your balance ASAP. Many plans don’t let you roll over unused funds. Eligible expenses include:
Glasses or readers
Hearing aid batteries
Dental work (cleanings, crowns, fillings)
Over-the-counter meds and supplies
New prescription lenses
First-aid replenishment
Sunscreen and heating pads
Eye & Dental Insurance Benefits
Cleanings, exams, refractions, and updated prescriptions often reset on Jan 1. If you’ve been putting something off, now’s the time.
Cash In on Credit Card Perks and Annual Credits
Many cards offer “use it each year or lose it forever” benefits.
Look for:
Airline fee credits
Hotel credits
Dining credits
Streaming service credits
Rideshare or transportation credits
Grocery or gas promotions
Extended warranty or purchase protection windows ending soon
Check your card portal—you may have free money waiting for you.
Claim Free Gift Cards, Bonuses, and Loyalty Rewards
Companies get generous in Q4 because they want to lock you in.
Search for:
“Spend $50, get a $10 gift card” promotions
Restaurant holiday bonus cards
Grocery store fuel points multipliers
Bonus rewards for buying gift cards (use for yourself later!)
Smart move: Stock up on discounted gift cards for places you know you’ll shop in January and February.
Maximize End-of-Year Tax Benefits
This is where the real savings happen—especially for those 55+ planning their financial runway.
Charitable Contributions
Donate before Dec 31 for this year’s tax deduction.
Pro tip: Don’t forget Qualified Charitable Distributions (QCDs) if you’re 70½+—they count toward your RMD but aren’t taxed.
Review Capital Gains & Losses
If you made investment moves this year, now is the time to offset gains with losses.
State-Specific Credits
Some states offer end-of-year credits for:
Energy-efficient home upgrades
Electric vehicles
Solar installations
Senior property tax benefits
Five minutes of checking could save you hundreds.
Check for Free Trials Ending Soon
The holiday season is notorious for:
Free streaming trials
Trial subscriptions
Fitness apps
Meal kits
Grocery delivery
Two actions to take this month:
Use what you signed up for
Cancel what you didn’t love
You save money either way.
Use Up Store Credits, Points, and Rewards
Many loyalty points expire on Dec 31.
Check your accounts for:
Drugstores
Grocery chains
Airlines
Hotels
Retail brands
Coffee shops
Big-box stores
If you’ve got $5–$50 in random store credits, you can turn that into real purchases you would have paid for later.
Enjoy Free Local Events and Senior Perks
December and early January bring a wave of free or low-cost local activities.
Look for:
Free museum days
Holiday concerts
Senior fitness classes
Cooking demos
Library events
Community center workshops
Many include free refreshments (the best kind of inflation-proof treat).
Plan for January Discounts
The end of the year isn’t only about freebies—you can position yourself for next year’s savings too.
Expect steep deals on:
Fitness memberships
Streaming services
Travel packages
Home goods
Organizers/storage
Clothing and winter accessories
Use December to compare prices and set alerts.
Do a Quick “Money Sweep” Before Dec 31
Spend 15 minutes checking:
Unused gift cards
Rebate apps (fetch, Rakuten, Ibotta)
Retailer digital coupons
Bank bonuses
Insurance wellness credits
It’s shocking how often people find $50–$300 they didn’t know they had.
With care,
Mike Bridges
Founder, The O55 Report