July 25, 2021


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Smart Money Podcast: Savings Tips and Updates to the Child Tax Credit – Yahoo Finance

Welcome to NerdWallet’s Smart Money podcast, wright here we reply your exact-world money questions.......

Welcome to NerdWallet’s Smart Money podcast, wright here we reply your exact-world money questions.

This week’s episode starts with a dialog about money-saving cas quickly aspts.

Then we pivot to this week’s question from a itemizingener’s voice-mail:

“Howdy, my identify is Isabel And that i have A question. Since Joe Biden and Congress have Positioned on this $300 or $250 a month spending for baby automotivee or completely different gadgets That you merely can be want In your baby, is it A great suggestion for me to take away my FSA baby automotivee contribution, since That is typinamey what I used to be using it for? I might Want to know if I even Need to make any modifications. Thanks.”

Take A look at this episode on any Of these plattypes:

Our take

Saving money can contain each slicing funds and understanding The biggest Method to make saving simpler for you. Confacetr the low-hanging fruit first: Reduce subscription providers you don’t use anyextra, And look at out and cut your grocery invoice by altering your storeping habits. Then make saving simpler by Establishing designated financial savings accounts for particular goals. Take into confacetration having one account In your emergency niced, ancompletely different for automotive funds And mightbe ancompletely different for holidays.

On The primeic of The kid Tax Credit rating — tright here have been Pretty A pair of modifications to the credit over the previous yr, so familiarize your self with what’s new. Presently, this tax credit provides $3,000 per qualifying baby Who’s 6 to 17 yrs previous. It’s the baby’s age On The prime of this yr, on Dec. 31, 2021, that issues right here. The credit goes As a lot as $3,600 if the baby is beneath 6 on Dec. 31, 2021. This greater credit is scale againd (or halfd out) for incomes over $150,000 for married taxpayers submitting a joint return, $112,500 for heads of househprevious and $75,000 for single filers.

Do You’d like to qualify, the IRS Might Even start shiping you month-to-month look ats for half of the credit from July to December of this yr. Here’s how That Can be Good for you: Do You’d like to qualify for the $3,000 credit, $1,500 of Which Might Even be despatched to you in month-to-month funds of $250 from July to December.

However simply Beset off you’re getting this money doesn’t imply You should sprime contributing to A versatile spending account, or FSA. Contributing to an FSA can scale again The quantity you owe in taxable income.

Our cas quickly aspts

  • Familiarize your self with the modifications to the baby tax credit. The baby tax credit is greater this yr, And also you can get half of it in month-to-month funds starting this summer time.

  • However you don’t Need to ditch your FSA. A dependent automotivee versatile spending account, Everytime You’ve entry To at least one, Might be An straightforward Method To cut your taxes.

  • And the tax advantages don’t sprime tright here. Tright here are A lot of completely different potential tax advantages That embrace being a mother or father, so converse with Educated tax professional about what’s out tright here to you.

Have a money question? Textual content material or name us at 901-730-6373. In any other case You will Have The power to e-mail us at [email protected]. To itemizingen to earlier episodes, go to the podcast houseWebsite.

Episode transcript

Liz Weston: Welcome to the NerdWallet Smart Money Podcast, wright here we reply your private finance questions and Assist you to exactly feel Barely smarter about what you do Collectively with your money.

I am Liz Weston.

Sean Pyles: And that i am Sean Pyles. Earlier than we get into this week’s episode, I’ve A question for our itemizingeners. What are your money questions? What’s the monetary choice That You are assumeing Of making proper now, but You are not constructive if You are making The Most approfessionalpriate selection? Properly, ship your money questions our method, and We’ll Assist you To answer them. Call or text us on the Nerd hotline at 901-730-6373. That’s 901-730-NERD, or e-mail us at [email protected]

Liz: On this episode, Sean and I reply a itemizingener’s question Regarding the baby tax credit And the method To imagine about The cash that many mom and father will start receiving in July. First although, in our This Week in Your Money half, Sean and I are talking about Our favourite money-saving cas quickly aspts.

Sean: That’s proper. Common itemizingeners of the current might primarytain in thoughts the survey that we stored bugging you A few few months again. Properly, you spoke and we itemizingened. Tons of You’d likeed to hear about our cas quickly aspts for saving money, so Liz and I are going To Supply you A few of Our favourite cas quickly aspts and converse about how we every approfessionalach financial savings.

Oh, and A quick heads-up before we start the dialog, You’d possibly hear some jingling Inside the againground, And that is my cat, Argus, working amok. So, please Do not thoughts the sounds that He is making. Thanks.

Let’s get into it.

Liz: Now I am On A daily basis confused by the time period “saving money.” So are we talking about stpricegies To place money afacet or are we talking about spending much less?

Sean: Sure.

Liz: That was useful.

Sean: I exactly feel When it Includes saving, placing afacet money and trimming funds are exactly two facets of The identical coin, but let’s take every facet One after The completely different. Let’s start with spending much less.

For me That basinamey starts with doing a price range evaluation. I like To Do this quarterly. I run by way of my Financial institution automotived and bank statements and exactly look by way of everyfactor that I’ve spent money on And mightbe shed a tear For a method a lot money I’ve spent, and assume about what I do not exactly Have to be spending money on anyextra. For event, I simply acquired an e-mail truly from A Sort of meals supply subscription providers saying, “Oh, by the method, your annual subscription is about to be renewed.” And I used to be assumeing to myself, “Properly, I do not even exactly use the service anyextra. I’ve furtherly heard Tons about how They are not paying eating places or their staff enough.” And So as that was A fairly straightforward trim that I could make to my price range. After which, progress, I’ve $10 again a month to do no matter I would like with.

Liz: I exactly feel Taking A look at these subscriptions is A very good cas quickly aspt proper now. I imply, A few of them acquired us by way of the pandemic, or the worst of the pandemic I ought to say, and We do not primarily Need to proceed with All them. I do not know that I want seven or eight or no matter streaming providers that We now have proper now. We wound up paying as a lot as we did for cable, but We would have appreciated it On the time and my daughter wanted her anime, heaven is Aware of, so That is what we did.

Sean: Crunchyroll.

Liz: Yeah, exactly. I like doing a no-spend month. That’s utterly my favourite Method to reset spending as a Outcome of I am solely spending money on importants. And I get to outline what that is so It is terribly versatile, Neverthemuch less it does primarytain me from thoughtsmuch lessly spending in Methods in which don’t primarily serve my goals.

Sean: I’ve Needed to Do this, particularly since I have been On the brink of transfer into my new house. And, as I am constructive You understand well, Liz, it Seems storeping for a House is primarily costly. And by no implys simply storeping for it; filling it with All of the Beprolongedings You’d like. Who knew that currenter curtain liners, and brooms and all This stuff can add As a lot as lots of of greenagains? I do know Tons about that now. So I have been doing An identical, no-spend month, wright here if it Does not relate to one factor that I want immediately for The house, I am not going To solely be spending money on it.

That Signifies that i’m Not storeping by way of eBay for basic clofactor and spending money on it — one factor I in all probability Did not even Have to do before this anymethod, Neverthemuch less it’s helped me have a Type of no-spend month as I am Getting ready for this huge, huge expense that I am Taking over. That method I Can furtherly understand wright here I can Get monetary financial savings Finally as a Outcome of I noticed that, “Look, I went two months with out storeping for any basic clofactor on eBay. Maybe I can Do this For An further two months.”

Liz: Properly, and you converseed about basic clofactor, which set offed thrift retailers, as a Outcome of they’re all open as quickly as extra or virtually All them, and That is An excellent place To start out wanting. Yeah, You ought to sift by way of Tons of stuff, but You are not solely discovering factors That are Low price, You are serving to the planet Since You are not storeping for new, So as That is A sensible method To economize.

Sean: Yep. Eparticularly for nice, kitschy knickknacks that I simply Want to populate e-bookcases with. Yow will discowl A few of Definitely one of the biggest stuff at thrift retailers. Those are some stpricegies You could truly trim money Out of your price range So that you’ve extra To save lots of. And that, as quickly as extra, as we converseed about is one half of the equation, and then The completely different half Is certainly understanding The biggest Method to tuck amethod your money and tuck amethod as a lot as You will have The power to.

For me, automating financial savings and setting goals And exactly Establishing a quantity of accounts For numerous pertypes has been a life-altering facet of saving for me. I truly took a Website out of your e-book, Liz, recently, wright here I Arrange a quantity of financial savings accounts with my on-line bank, my extreme-yield financial savings account bank. So I now have 5 completely different financial savings accounts.

I felt Barely bit ridiculous, but I furtherly felt Sort of like a mad genius Concurrently I used to be doing this. I’ve One which’s my emergency niced. I am at a sure threshprevious wright here I exactly feel like I’ve a good quantity Inside tright here, but I am nonethemuch less persevering with to contribute to it frequently, a sure proportion of my income. After which I’ve a sepaprice account for automotive funds, as a Outcome of late final yr I had An monumental automotive expense that took some money out of my emergency niced, and I assumed, “I do not want that To the contact my emergency niced ever as quickly as extra.” So now I’ve My very personal niced for it.

I Even have One which I am simply nameing nice money. That’s for factors like journeys or as quickly as extra, basic clofactor that I do not primarily want, factors that I’ven’t allotted, so I can spend this money and not exactly feel responsible about it. After which ancompletely different one is for An monumental buy for my house. It Seems that fences are very costly, confacetring how a lot lumber is. I am goingt an estimate and a fence for my house Goes to value me $11,000. So I’ve a not-so-nice fence niced that I am slowly constructing As a lot as.

Liz: All proper. Properly, good for you. And yes, on the emergency niced, the persevering with To save lots of for that. I exactly feel That is An cas quickly aspt that Is strong For lots Of people to get. They Confacetr an emergency niced as a objective thOn they Need to get to at a sure level and then progress, they’re carried out, And exactly it’s rinse and repeat. You’re continuously placing money in, continuously taking money out, as a Outcome of life occurs. TThis is simply one factor in my mind that likes to have a label on factors. It helps me not dip into my emergency niced for non-emergency pertypes, Neverthemuch less it furtherly informs me The cash is tright here Once I want it. We have, I exactly feel, 10 Of these now.

Sean: Oh, wow.

Liz: Yeah. We have life insurance coverage to pay for, professionalperty taxes. Similar to you said, automotive funds, house funds, That is ancompletely different huge one. The suggestion is You set afacet 1% of The worth of Your house Yearly to cowl numerous funds for upprimarytain and repairs. That’s completely rule of thumb. You could spend Much extra, You can spend Tons much less, but That is a good Type of place To start out.

Sean: I exactly feel That is A very good cas quickly aspt as a Outcome of with Garrett’s house right here in Portland, It is a handful of many yrs previous at this level, And a few factors Only aren’t working the method They’ve to. We had An monumental dpersonalpour The completely different week and Prompts the market’s a small leak in our roof. So We now Need to decide that out. Also Each time we run the dishwasher, a fuse blows. So We now Need to get an electrician out right here to decide that out. So, factors that You only don’t anticipate and it’s irritating to Need to spend That cash, but Everytime You’ve All of itotted already in A particular niced, you Sort of can swpermit it Barely bit simpler, I exactly feel, Beset off you knew that this was going To return up in some type or type.

Liz: And water is A Sort of basic factors wright here if you ignore it, It is going to get a lot, a lot worse.

Sean: Oh God. It is very sautomotivey. Yeah, a small leak Isn’t Only a small leak as a Outcome of assume about wright here it’s seeping into the wooden. Yeah, It is a nightmare principally.

Liz: Properly, and The rationale that We will Do that so We will have All of these financial savings accounts is, as you said, is we’re using on-line banks That do not have minimums, That do not have month-to-month costs and That permit you to nickidentify these accounts, which most of them name sub-accounts, with completely different identifys So as that You understand exactly what your money Goes for, and you Arrange these automated transfers And also you Do not have To imagine about it, which is good.

Sean: Yeah. And that is key. So when you first laid out your saving stpricegy like this, I assumed that it was mightbe overkill, I am going To admit.

Liz: A little OCD. Okay.

Sean: Yeah. Now I am completely purchased in. An factor of it is that I assumed that you have been having A particular account at A particular bank, which is simply not the case. You can principally clone the account That You’ve acquired already acquired with the bank That You’ve acquired already acquired and simply proceed To place money in it, give it a nickidentify and have that be your new financial savings objective.

Liz: Yeah, exactly. Groceries are An monumental half Of people’s price range. So how do you Get monetary financial savings on meals?

Sean: We Try to Deal with A mannequin new approfessionalach to how we store for groceries. It is Discover your self to be slightly extra difficult, However in addition simpler On The identical time, if that Is sensible.

Liz: You have To elucidate that.

Sean: In a single space, We now have exactly been homing in on some particularty grocery retailers. We make Tons of Mediterranean meals at our house and We now have An excellent Mediterranean grocery retailer in our neighborhood. We can get The Sort of area of curiosity spices that you assume are exactly costly and troublesome To accumulate proper tright here. You Can buy them in bulk, They typinamey’re truly exactly fairly priced. So We have been making an attempt to do extra factors like that as a Outcome of All of us know that We will as quickly as extra, store native, get the factors that We’d like and spend much less money, Even when it does imply An further journey. Fortunately, We will simply stroll tright here in our neighborhood, but That is A method wright here as quickly as extra, it’s Discover your self to be Barely bit extra difficult.

However on the streamline facet, we truly get Shut toly everyfactor else: milk, eggs, bread, and so on., from Definitely one of many huge-identify grocery retailers Inside The world. We have been storeping tright here For tright herefore prolonged, They typinamey have A fairly good loyalty professionalgram, thOn They solely throw coupons at us. Each week, we’re getting one factor new Inside the mail it seems, and I am going To admit I am a sucker for that. They’re primarytaining this virtuous cycle going wright here I primarytain storeping tright here as quickly as extra. So we use as many coupons as we Might as a Outcome of they’re fairly well focused, fortunately.

I have been doing Tons of curbfacet pickup, which I find helps me not buy factors that I do not want, which I exactly like to do On the grocery retailer. So This method I can simply get the factors that I utterly want for the recipes for the week forward, And that i haven’t acquired the temptation of Taking place the ceexact aisle, which For tright hereforeme set off, I simply love To buy like 5 completely different Kinds of ceexact All of a sudden and have selection And mix them together.

Liz: That’s so millennial.

Sean: Yeah. I simply love a good candy ceexact principally. This method I am solely storeping for one area as a Outcome of I in all probability have a coupon for it and I do not want The completely different ones anymethod. That’s how I have been doing it.

Liz: I exactly feel Tons Of people Do not understand thOn the gross sales at grocery retailers are on exact cycles. Tright here’ll be a small low cost mightbe every three or 4 weeks, and then The huge low cost is every three months. So, You start To tevery your self To look for these hugeger reductions and Refill. Now you Have to have some space To place the stuff And also you’d like To exactly eOn the stuff that You buy. That’s a key half of it. You truly can Keep away from losing large cash, particularly if You are piling coupons on prime Of these reductions.

Sean: We have an article on NerdWallet That is simply titled “How to Save Money on Groceries.” Very aptly titled, I might say. The primary one is look at your fridge first, which is one factor I am responsible of. Beset off as quickly as extra, with making Tons of Mediterranean meals, We’d like flat leaf parsley in Shut toly everyfactor. So wheby no implys I am going to The store, I exactly feel, “Might as well simply get some. Might as well get two bunches,” and I am going house and it Prompts the market’s one slowly rotting Behind my fridge. They are not that costly. It is a greenagain For every of them mightbe, but nonethemuch less it provides up over time. I simply exactly feel that pang of guilt that I used to beted one factor else. So utterly Do this. Even if You are simply storeping Out of your telephone for a pickup order, simply go to the fridge, Check it out and Make constructive you don’t Even have what you already are storeping for.

Liz: Properly you converseed about the flat leaf parsley and that rethoughtsed me that having Barely backyard in your windowsill for herbs can Forestall a ton Of money. I’ve acquired basil planted out Inside the backyard, but I’ve oregano and thyme and sage in my windowsill. You pay as quickly as for the seeds or for the little crops And you have acquired acquired it for quite A wright hereas.

Sean: The factor is that we truly have been rising some parsley final yr, it Did not make it over the winter, but let me Intype you our mint and our thyme have exploded. If You’ll plant mint, This is Barely backyarder’s tip, as a Outcome of in case people Do not know, I am exactly into backyarding, pot your mint into an exact pot before You set it Inside The beneathfacet, completely differentsensible It is going to take over your complete backyard. We have mint for mojitos or Somefactor We would like, wheby no implys We would Choose it.

Liz: Fabulous. I love that.

Sean: All proper, with that, I exactly feel We will get onto this episode’s money question.

Liz: Let’s do it.

Sean: This episode’s money question comes from a itemizingener’s voice-mail. Here it is.

Isabel: “Howdy. My identify is Isabel, And that i have A question. Since Joe Biden has put in, or Congress has put in, this $300 or $250 a month spending for baby automotivee or completely different gadgets That you merely can be want In your baby, is it A great suggestion for me to take away my FSA baby automotivee contribution, since typinamey what I used to be using it for, and from my understanding, it sounds Just like the $300 Is Alleged to be The identical as this? I might Want to know if I even Need to make any modifications. Thanks.”

Liz: Our itemizingener is asking Regarding the month-to-month funds That the majority househpreviouss are about to get starting in July. These funds of As a lot as $300 per baby Per thirty days have been half of The latest stimulus package deal. To inform us extra Regarding these funds, we’re joined by tax Nerd Tina Orem.

Sean: Hey Tina, welcome again to the podcast.

Tina Orem: Howdy tright here. Glad to be again.

Sean: Glad to Have you ever as On A daily basis. Tright here have been some huge modifications to the baby tax credit this yr. So Are you able to only start by giving us a rundpersonal of what people ought to know?

Tina: The baby tax credit certainly has modified Tons this yr. It is no shock thOn tright here are Questions on it.

Here’s some Primary gadgets to know Regarding the baby tax credit this yr, and tright here are Much extra particulars behind this, so this is simply Sort of An abstract. First, it provides As a lot as $3,000 per qualifying baby, 6 to 17. It is the Kid’s age On The prime of the yr on Dec. 31, 2021, that issues right here. Also the credit goes As a lot as $3,600 if the baby is beneath 6. Ancompletely different important factor to know is The greater credit is scale againd or halfd out for incomes over $150,000 for married taxpayers submitting collectively, or $112,500 for heads of househprevious and $75,000 for single filers. Do You’d like to qualify this yr, the IRS might ship As a lot as half of that credit to you early Inside The Sort of month-to-month funds that run from July by way of December.

Liz: The IRS is doing one factor that it’s by no implys carried out before, which is to ship out these month-to-month funds and They are going to base it on your 2020 tax returns. So Everytime you Have not filed that and you qualify for the credit, you in all probability Need to Do this now. In the event that they do not have a tax return for you, They will use your 2019 return.

Sean: As All of us know, Tons Of mom and father’ income modified drastinamey from 2019 to 2020. So it’s in all probability A great suggestion to get that up So far tax intypeation to the IRS.

Liz: This money Might be life-altering probably For A lot of househpreviouss, but does it imply that househpreviouss ought to sprime contributing to A versatile spending account?

Tina: Whether or not You retain contributing to your dependent automotivee FSA Isn’t primarily a perSort of whether You are getting the baby tax credit. Actually, You might Need to confacetr persevering with to make these contributions as a Outcome of They will exactly scale again The quantity of your income That is topic to tax.

Sean: Yeah, I exactly feel We ought to alstpricegies take A quick step again as a Outcome of We have been talking about Tons of quantitys and acronyms That people Might be not Familiar with. Tina, can you give us A quick explainer of what exactly FSAs are?

Tina: Properly, FSA stands for versatile spending association, some people say versatile spending account, They typinamey can cut your tax invoice. Primaryally, no matter money you contribute to an FSA scale agains The quantity of your income That is topic to income tax. Typinamey you get entry to an FSA by way of work, so many employers offer them as a revenue. You contribute to it by way of voluntary deductions Out of your paylook at and no matter you contribute Isn’t taxed. Sometimes employers will even contribute free money to your account. So the catch although, Do You’d like to Want to name it a catch, is that You ought to use The cash for well being automotivee funds.

Now tThis is ancompletely different taste of FSA and it’s referred to as the dependent-automotivee FSA. For dependent-automotivee FSA, typinamey You ought to use The cash for baby automotivee or to Look after a dependent When You’re employed or Search for work. I exactly feel this is The Sort of account the nameer is asking about.

Relyent-automotivee FSAs Might be fairly good as a Outcome of they cut your tax invoice Just by niceneling The cash that You are already going to spend on, say, day automotivee by way of the account. For event, Rather than getting your complete paylook at depowebsited into your regular look ating account, You will have The power to have A few of The cash that You understAnd also you are going to spend on day automotivee, put immediately into your dependent-automotivee FSA account, and Then you undoubtedly pay the day automotivee supplier like you usually do, and Then you undoubtedly get reimbursed from the FSA. Do You’d like to do it that method, Which implys thOn The cash that goes into the FSA account Isn’t topic to income tax.

Liz: I exactly feel wright here our itemizingener’s confusion acquired here up is thOn the FSA for dependent-automotivee can battle with ancompletely different Sort of tax credit, which is the baby automotivee credit. These identifys are so Shut to Each completely different, the baby tax credit, the baby automotivee tax credit, that It is not surprising people get confused. As you converseed about, this new tax credit Does not have anyfactor to do with dependent automotivee, So that you’d liken’t fear about a battle between The two of them.

I simply primarytain in thoughts making an attempt to wrestle with this when my daughter was youthful, Figuring out which was The greater tax break and The biggest Method to make All of it work. It is exactly confusing as a Outcome of these completely different tax breaks have completely different qualifying ages. They have completely different half-out quantitys. They have completely different quantitys. Attempting to get All of it straightened out was Sort Of inauspicious.

Sean: It Appears like our itemizingener May even be Considering about studying how They will scale again their tax invoice as a mother or father. What choices do people have right here?

Tina: Yeah, this all brings up The huger question of how else mom and father can scale again their tax funds. We Have acquiredten Tons of cas quickly aspts for you, And You might study extra about that on the NerdWallet website, but This is A pair of that You’d possibly qualify for Collectively with the baby tax credit.

One is the earned income tax credit. That’s one factor to look into if you made Decrease than about 57, $58,000, You can Rise As a lot as about $6,700 Counting on your submitting standing, your income diploma and What quantity Of youngsters You’ve. And You Do not Need to have youngsters to qualify for that credit.

An alternate selection that Liz converseed about too, is the baby and dependent automotivee tax credit. That one’s worth a proportion of your baby automotivee prices. Again, Relys upon What quantity Of youngsters You’ve, how a lot you spend for automotivee and your income.

Ancompletely different one is the adselection credit, Which might get you over $14,000 Counting on your income and the wants of the baby.

Those are simply three. Tright here are extra.

Sean: I used to be going to ask about contributing to a 529 plan. That’s, For people That will not know, It is A college financial savings car that Tons Of mom and father Take pleasure in. The financial savings will Rely upon what state You are in and The guidelines of your state, but that is an selection that some mom and father Take pleasure in.

Tina: Absolutely. And tright here are completely different education-associated tax credit and deductions too.

Liz: Yeah, I am An limitless fan of 529s. They are going To help pay for my daughter’s school, which is Arising fairly quick. The Great level about it is That the majority states do offer some Type of tax break or completely different help to contribute. California, sadly, is not Definitely one of manym. The money grows tax-deferred, and when You use it for qualifying education funds, it’s tax-free. So It’d be exactly useful as a Outcome of school Is pricey.

Sean: All proper, Tina, well Everytime You’ve Ancompletely different althoughts on the topic that our itemizingeners ought To primarytain in thoughts?

Tina: Yeah. With regard to the baby tax credit, Carry on prime of it. Issues are altering. U.S. Treasury is making an attempt to Arrange An internet-based mostly portal For people who’d quite not get the month-to-month funds and declare All the tax credit On The prime of the yr, for event, or have updates. As of right now wright here that stands Continues to be creating, so simply primarytain tuned for that.

Sean: Properly, thank you A lot.

Tina: Anytime.

Sean: And with that, let’s get on to our takeamethod cas quickly aspts. I can kick us off. First step, Get Conversant Inside the modifications to the baby tax credit. The baby tax credit is greater this yr, And also you can get half of it in month-to-month funds starting this summer time.

Liz: Subsequent, You Do not Need to ditch your FSA. A dependent-automotivee versatile spending account, Everytime You’ve entry To at least one, Might be An straightforward Method To cut your taxes.

Sean: And the tax advantages don’t sprime tright here. Tright here are A lot of completely different potential tax advantages That embrace being a mother or father, so converse to Educated tax professional about what’s out tright here to you.

Liz: That’s all We now have for this episode. Do You’ve a money question of Your private? Flip to the Nerds and name or text us your questions at 901-730-6373. That’s 901-730-NERD. You May furtherly e-mail us at [email protected] Also go to nerdwallet.com/podcast for extra intypeation on this episode. And primarytain in thoughts to subscribe, price and consider us wright herever You are getting this podcast.

Sean: Here is our short-term disdeclareer, althoughtfully crafted by NerdWallet’s authorized group. Your questions are anshave beend by knowledgeable and gifted finance writers, but We aren’t monetary or funding advisors. This Nerdy intypeation is professionalvided for widespread instructional and leisure pertypes, And ought to not apply to your particular circumstances.

Liz: With that said, till next time, turn to the Nerds.

More From NerdWallet

Liz Weston writes for NerdWallet. Email: [email protected] Twitter: @lizweston.

Sean Pyles writes for NerdWallet. Email: [email protected] Twitter: @SeanPyles.

The article Smart Money Podcast: Savings Tips and Updates to The kid Tax Credit rating initially appeared on NerdWallet.