It is a new year, and with it comes financial changes. We at Centricity want to keep you informed on what has changed in the world of Personal Finance in 2022
Budgeting in the New Year
- Inflation has led to a rise in prices, especially in food (meat) and rent
- Student loan payments are scheduled to return in May ‘22
- Covid-19 restrictions are shifting, and a return to activities may result in higher expenses, but you may still find yourself saving due to remaining restrictions, such as in travel.
- Don’t forget about your subscriptions! With many services becoming subscription-based, it is a good time to review which you want and which you don’t.
- The Child Tax Credit was not renewed in ‘22, You may see it return if the Build Back Better plan is passed. For now, if you are a parent who had received it, plan for the loss of the tax credit.
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