Tips, advice, and the latest news from the savings world.
Millions of American families are due to get an advance on their child tax credit payments starting in mid-July. Thanks to the American Rescue Plan Act of 2021, the payments are up to $1,600 larger than they were last year, and the monthly payments may assist families who struggle with day-to-day expenses all year. Spacing out the payments may also help families during certain high-cost times of the year, such as PCS moves, back-to-school purchases, military transitions, or holiday shopping.
Before your first paycheck from your very first job hit your bank account, you may have heard the good advice to “pay yourself first.” Of course, that didn’t mean you should go out and buy whatever what-have-you was on your wish list. Instead, it meant you needed to set aside money for someone else—someone who may as well have been a perfect stranger at the time—your future self.