Ways to spend child tax credits, next
However, if you deposit your money in a high yield savings account, you will earn more interest.
Specifically, a high-interest account can pay 20 to 25 times more interest than a traditional savings account.
Last but not least, if your financial situation is stable without tax credit paymentthen you can invest it for the future.
Assuming you’re saving for your child’s college tuition or something that will positively impact your child’s future, you can try investing in a fund so the fund has the potential to grow.
But remember, as with any investment, you are never guaranteed to make a profit. In fact, your property’s value can even drop if you’re not careful.
But choose one index funds not a bad way to start, as these are considered safer bets when compared to individual stocks.
https://www.the-sun.com/money/4658278/child-tax-credit-2022-update-irs-refund-credit/ Child Tax Credit Update 2022 – IRS processes returns and e-credits up to $20,328 for 2021