Millennial Money: 4 expenses for parents to rethink in 2023

By ELIZABETH AYOOLA of NerdWallet

As we kick-start 2023, many parents are rebalancing their budgets and looking for ways to save money amid inflation. Parents who often look forward to getting sizable tax refunds may end up with a noticeable reduction. This could be due in part to reductions in the child and dependent care credit as well as the child tax credit. Parents can reevaluate some of their child-related expenses to save money in 2023. Some common expenses they can review include health insurance plans, entertainment for their kids, child care expenses and groceries.