Parents: Take a new look at these recurring expenses for your kids this year

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 55 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 25%
  • Publisher: 97%

United States Headlines News

United States Latest News,United States Headlines

To help your money go further, you might be able to impose a few of these strategies that can reduce the costs of these common child-related expenses.

This is reprinted by permission from . The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.

Child care Many of the increased tax credits and deductions parents enjoyed during the height of the pandemic are reverting to their original limits. As a result, parents should be prepared to get less back this year, says Alton Bell II, principal accountant and founder at Bell Tax Accountants & Advisors in Chicago.

Additionally, you could contribute to a dependent care flexible savings account, which allows you to use pre-tax dollars to pay for child care. Bell suggests maxing out that account for the year and also utilizing an employer FSA match if your company offers one. One cost-saving strategy is to plan your shopping ahead of time to avoid buying items you don’t need. Dominique Broadway, a personal finance expert and founder of Finances Demystified in Miami, Florida, switched from going to the store to using grocery delivery services so she knows exactly how much she’ll spend.

Health care Premiums can become a noticeable expense when you pay them monthly. Adding copays every time you visit the doctor increases your out-of-pocket costs even more.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Travis, Jason Kelce's parents share conference championship plans, brace for brotherly matchup in Super BowlTravis and Jason Kelce's parents are thrilled their sons are fighting for a spot in the Super Bowl, but it poses a logistical dilemma for Donna and Ed Kelce. 🔥JUST RELEASED🔥 Eddie Bauer Kara Koram 20° Down Bag (25° Test!) backpacking hiking hikingadventures shtf merica OTG offthegrid prepper prepping getoutside backpacker outdoors saturdaymood saturday saturdaymorning
Source: FoxNews - 🏆 9. / 87 Read more »

Parents say 'dream' school district has become a 'woke' nightmare: 'The joke's on us'Iowa parents sound off after a school board member posted on Facebook that public education is not to teach kids 'what parents want.' Since y’all parents know what to teach your kids, why don’t you home school them instead of complaining about what’s been taught in public schools? It is interesting that the schools feel that have such a control, that they an do as they please. The only way to break the hold is to let funds follow the student.
Source: FoxNews - 🏆 9. / 87 Read more »

Tua Tagovailoa’s Parents Make Definitive Statement About His Football FutureThe Dolphins quarterback remains in concussion protocol, one month after entering for the second time during the 2022 campaign. theMMQB I’m glad his Mommy and Daddy said he can come out and play. I hope for more from this talented individual... But, I fear he'll never be 100 % again because of his concussions .
Source: SInow - 🏆 273. / 63 Read more »

Parents speak out after winning nearly $3 million settlement in son's hazing deathNEW YORK — The parents of a 20-year-old Bowling Green State University student who died from alcohol poisoning while pledging a fraternity say they are on a mission to end hazing in colleges across the country.
Source: WOKVNews - 🏆 247. / 63 Read more »

Biden Phones Tyre Nichols’ Parents: “Only the Good Die Young”President Biden invited Tyre Nichols' family to the White House and echoed their wishes for peaceful protest after officials released a brutal recording of Nichols’ fatal beating by local cops. Biden is also giving tons of more money to the police, this is a bullshit empty gesture.
Source: thedailybeast - 🏆 307. / 63 Read more »

Parents react to bomb threat at Daphne MiddleDaphne police said there was a bomb threat, and it turned out to be a hoax.
Source: FOX10News - 🏆 581. / 51 Read more »