1) Max your retirement account. Wherever you live, there is usually a tax-advantaged way to save for your future. If you live in the United States, this means your 401(k).For 2025 the limit is $23,500. If you are 50 or older you can contribute an additional $7,500 as a catch-up. A 401(k) is different from an IRA. You cannot wait until April.Contribute before year end or lose the opportunity forever. This is often the simplest tax break you will ever get. If you live in Canada, your equivalent account is the RRSP. Contribution limits depend on your earned income and are published each year by the CRA. RRSP contributions reduce your taxable income and many employers offer group RRSPs that work like a 401(k). If you do not use your RRSP room, the unused amount carries forward. TFSAs are another tool. They do not give you a deduction today but your investment growth and withdrawals are tax free. If you live in Europe, most countries have an “integrative pension” option that gives either tax deductions today or tax advantages in retirement.Italy has the “previdenza complementare.”The UK has workplace pensions with auto-enrolment and tax relief on contributions.Germany has Riester and Rürup pensions.France has the PER (Plan d’Épargne Retraite).Spain has “planes de pensiones.”Check your local rules. In most cases, contributing before year end increases your tax benefit for the current year. Saving for retirement is universal. The structure changes by country. The principle stays the same. Use every legal advantage available to you. 2) Donate and receive tax benefits. This is true in many coutries. In the US, qualified charitable donations may reduce your taxable income, especially if you itemize deductions. In Canada, donations generate a federal and provincial credit. In most European countries, registered charities allow you to deduct part of your gift or receive a credit. Giving creates impact. It can also lower your tax bill. 3) If you are in the US, use your FSA before it expires.

@Aline Arruda and @Nina Couto thank you for taking the time to take the financial literacy quiz :). Correct answers are in the comments :)

This year I am going to concentrate on financial education for kids! Follow along for 30 days of focused content . Your kids will thank you