Scott Bessent says Americans can unlock more cash ‘on a weekly or monthly basis’ with this change — have you made it?

Jing PanFri, April 17, 2026 at 11:05 AM UTC

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US Treasury Secretary Scott Bessent speaks during a roundtable with journalists after speaking at an Institute of International Finance

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Normally, getting a pay raise means asking your boss. But according to Treasury Secretary Scott Bessent, Americans may not need to wait for one to boost their income.

Speaking at a recent White House press briefing, Bessent encouraged workers to take a closer look at their tax withholding — suggesting that a simple adjustment could translate into more money in each paycheck.

"I want to encourage everyone out there watching today to change their withholding if they haven't already done so," he said (1). "Because if you change your withholding, then you will get an automatic real wage increase on a weekly or a monthly basis and you will be able to keep more of your money this calendar year."

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Withholding refers to how much tax is taken out of your paycheck throughout the year. By adjusting it, workers can reduce the amount withheld — effectively increasing their take-home pay in each pay period.

It doesn't increase your income in the traditional sense, but it can improve cash flow by letting you keep more of your money upfront rather than waiting for a refund at tax time.

The comments came as Bessent discussed how changes from the Working Families Tax Cuts are translating into savings for Americans this filing season.

"More than 45% of the filers of the returns that we have seen have had at least one of the four president's signature policies: no tax and tips, no tax and overtime, the deductions for our great seniors, and the deductibility of interest on auto loans for American-made cars," he said.

Those changes have coincided with higher refunds. According to a White House fact sheet, the average refund this season is over $3,400 — an 11% increase compared to the previous filing season (2).

The administration also noted that over six million filers have claimed the "No Tax on Tips" provision, with an average deduction of more than $7,100, while more than 25 million have claimed "No Tax on Overtime," averaging over $3,100. More than 30 million seniors have claimed the enhanced deduction, with an average of over $7,500.

When asked whether these gains could offset the pressure of higher living costs — including periods of $4-a-gallon gas — Bessent kept his answer simple.

"No one's ever objected to more money in their pocket," he said. "Americans have more money; they can decide how they want to spend it."

Extra cash in your paycheck can offer immediate relief — especially as everyday costs like gas and groceries continue to fluctuate. But having more money on hand is only part of the equation.

What you choose to do with that extra cash could have a much bigger impact over time. Whether it's investing for long-term growth, building a steady income stream or simply earning a better return on idle savings, putting that money to work can help turn a short-term boost into longer-term financial progress.

Here are a few ways to make the most of it.

Read More: This $1B private real estate fund is now accessible to non-millionaires. Start investing with just $10

'The best thing to do,' according to Warren Buffett

The U.S. stock market has been a powerful engine of wealth creation. President Donald Trump has pointed to that strength, recently saying that "the only thing that's really going up big? It's the stock market and your 401(k)s (3)."

The benchmark S&P 500 returned 16% in 2025 and has gained roughly 68% over the past five years.

Of course, consistently picking winning stocks isn't easy. That's why legendary investor Warren Buffett argues that most people don't need to pick individual companies at all to benefit from the stock market's long-term growth.

"In my view, for most people, the best thing to do is own the S&P 500 index fund," Buffett has famously stated (4). This approach gives investors exposure to 500 of America's largest companies across a wide range of industries, providing instant diversification without the need for constant monitoring or active trading.

The beauty of this approach is its accessibility — anyone, regardless of wealth, can take advantage of it. Even small amounts can grow over time with tools like Acorns, a popular app that automatically invests your spare change.

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Signing up for Acorns takes just minutes: link your cards, and Acorns will round up each purchase to the nearest dollar, investing the difference — your spare change — into a diversified portfolio.

With Acorns, you can invest in an S&P 500 ETF with as little as $5 — and, if you sign up today with a recurring investment, Acorns will add a $20 bonus to help you begin your investment journey.

Build wealth through US real estate

Beyond stocks, real estate has long been another cornerstone of wealth-building in America.

In fact, Buffett has often pointed to real estate when explaining what a productive, income-generating asset looks like. In 2022, Buffett stated that if you offered him "1% of all the apartment houses in the country" for $25 billion, he would "write you a check (5)."

Why? Because regardless of what's happening in the broader economy, people still need a place to live and apartments can consistently produce rent money.

Real estate also offers a built-in hedge against inflation. When inflation rises, property values often increase as well, reflecting the higher costs of materials, labor and land. At the same time, rental income tends to go up, providing landlords with a revenue stream that adjusts with inflation.

Of course, you don't need $25 billion — or even to buy a single property outright — to invest in real estate. Crowdfunding platforms like mogul offer an easier way to get exposure to this income-generating asset class.

mogul is a real estate investment platform offering fractional ownership in blue-chip rental properties, which gives investors monthly rental income, real-time appreciation and tax benefits — without the need for a hefty down payment or 3 A.M. tenant calls.

Founded by former Goldman Sachs real estate investors, the team hand-picks the top 1% of single-family rental homes nationwide for you. In other words, you gain access to institutional-quality offerings for a fraction of the usual cost.

Each property undergoes a rigorous vetting process, requiring a minimum 12% return even in downside scenarios. Across the board, the platform features an average annual IRR of 18.8%. Offerings often sell out in under three hours, with investments typically ranging between $15,000 and $40,000 per property.

You can sign up for an account and then browse available properties here.

Let your cash hatch its own income

You don't need a massive investment portfolio to start building wealth. Even your spare cash — like a tax refund or extra take-home pay from adjusting your withholding — can earn income rather than sitting idle in a low-yield account.

To get started, a high-yield account like a Wealthfront Cash Account can be a great place to grow your uninvested cash, offering both competitive interest rates and easy access to your money when you need it.

A Wealthfront Cash Account currently offers a base APY of 3.30% through program banks, and new clients can get an extra 0.75% boost during their first three months on up to $150,000 for a total variable APY of 4.05%.

That's ten times the national deposit savings rate, according to the FDIC's March report.

Additionally, Wealthfront is offering new clients who enable direct deposit ($1,000/mo minimum) to their Cash Account and open and fund a new investment account an additional 0.25% APY increase with no expiration date or balance limit, meaning your APY could be as high as 4.30%.

With no minimum balances or account fees, as well as 24/7 withdrawals and free domestic wire transfers, your funds remain accessible at all times. Plus, you get access to up to $8M FDIC Insurance eligibility through program banks.

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Source: “AOL Money”