Meet Nichole: A Pennsylvania Mom Using the Child Tax Credit to Pay Off Debt and Build Savings

Struggling to stay afloat during the pandemic, Nichole used SaverLife to rebuild her family’s finances. 

Like many people, the pandemic brought Nichole to the financial brink. Despite working full-time, she struggled to pay her bills, especially with two kids living at home. “Even with food stamps and my job at the time, it wasn’t enough to make ends meet,” she said. Nichole’s sister told her about SaverLife, and she signed up shortly after the pandemic began. 

Nichole had to learn about finances later in life, and SaverLife has been a critical resource on her financial journey. “The pointers on SaverLife have helped me save money and improve my credit score,” she said. Nichole appreciates the reminders SaverLife sends to help keep her on track with her savings goals. Once she was able to get a better-paying job as an appointment coordinator at a dispatch office, she began to put some of the things SaverLife was teaching her into practice. She used the tips and information provided through SaverLife’s partnership with Experian to consolidate her credit debt and get the balance down, improving her credit score significantly.

Now, she’s using SaverLife’s reminders to help her put her monthly Child Tax Credit payments to work. “SaverLife has nudged me to use the Child Tax Credit money to pay off some debt I acquired when we were struggling, and I’ve also saved some as well,” she said. Before joining SaverLife and getting a new job, Nichole didn’t have any savings. In the past year, her family has saved almost $11,000. 

Nichole and her husband are pursuing big financial dreams for their family. Within the next year, they’re hoping to buy a home, pay off the rest of their credit card debt, and continue working on paying off Nichole’s student loans. “SaverLife is a great tool that gives tips and pointers and reminds me that every little bit of savings helps,” Nichole said. “It helps remind me of what’s important.”