Let the Child Tax Credit initiate your path to financial stability

According to national surveys and publications, the Child Tax Credit is helping individuals and families be able to keep food on the table and electricity on. An article on CNBC from Carmen Reinicke states, “Nearly half used the money for food, slashing the food insufficiency rate by more than 20% for households with children… Difficulty paying expenses decreased as well, going from 31.5% of households with children having trouble covering their costs before the first payment to 29% after, data shows.” 

In another article from ParentsTogether.com it was stated, “90% of parents surveyed said the payment of the child tax credit was helpful or made a “huge difference” to their family’s economic security.” Justin Ruben, co-Director of ParentsTogether mentioned that experts are estimating that the Child Tax Credit is on track to cut child poverty almost in half. 

 

So what can recipients do with these resources that are now available and how do they make them last? 

Take a free Financial Stability class! Our partnership agency, Personal Finance Center of Polk County offers free financial stability classes designed to educate, coach, and empower participants. The classes are a series of four sessions in a comfortable, non-judgmental environment that will teach participants how to be smarter with their money no matter what their circumstances. They cover how to budget, get out of debt, save and invest, and improve credit reports. If a participant is unable to attend live classes, the curriculum is also available online. They also have a young adult and Spanish curriculum and provide free breakfast, lunch, or dinner at each session!  

Personal Finance Center of Polk County also offers financial coaching, credit counseling, and tax preparation, all free of charge. Visit their website 

Have other financial questions? Contact 211, your source for human and social services information.

Want to help fund our financial stability initiative? Donate here!

Sources: CNBC | ParentsTogether