Monthly child credits could be a boon for Millennial parents.

Monthly child credits could be a boon for Millennial parents. July will mark the start of enhanced child tax credit payments, with eligible American families receiving up to $250 a month for children 6-17-years-old and $300 a month for children 0-6-years-old. The additional money could be a lifeline for many families, with parents planning to spend it on everything from back-to-school clothes and supplies to medicine. Experts say the plan will also “lift millions of children out of poverty.” Currently the payments will end in January 2022, but some lawmakers and researchers are pushing for them to continue. (CNBC)