Fix your plan contributions for the coming year

If you participate in a 401(k) or similar plan and/or a flexible spending arrangement (FSA) at work, you must usually commit to your contributions for the coming year before December 31. Decide how much you can afford to put into these plans. Best strategy: For retirement plans, contribute enough to obtain employer-matching contributions (essentially free money for you). For FSAs, keep the use-it-or-lose it feature in mind and don't contribute more than you're confident you'll be able to timely spend.