The Daily Money: Renovating your house might cost more

Friday is here. Your Daily Money captain, Nathan Bomey, is off today. But it's Brett Molina here to deliver all the Money and Tech goodness to close out the work week.

It's a big weekend if you are a sports fan, as the Opening Ceremonies to the Tokyo Olympics kicked off. Our esteemed Sports crew has every inch of the Summer Games covered, including projections for who brings home the gold.

But before you bask in coverage of water polo and surfing (an Olympics newcomer), let's start with our:

💡 INSIGHT OF THE DAY: Know what can feel like an Olympic task? Renovating your house. Pandemic restrictions keeping many Americans at home got our minds whirling about ways to revamp our abodes. But some bad news: it's not about to get any easier. The reason? Services and materials such as lumber or paint used in renovations is going to cost more. 

Here's what else is happening in Money and Tech:

• The hair up there. Great profile on how one barber is using TikTok to help eliminate the stigma around male pattern baldness.

• Child tax credits. The financial boost approved by the Biden administration could give undocumented immigrants a big lift.

• More car recalls. GM is recalling Chevrolet all-electric Bolt hatchbacks due to potential fire risks.

• Yep, we're spending again. Now that more people are getting vaccinated and COVID restrictions are lifted, we're letting the cash fly.

Have a great weekend, readers!

Brett Molina, Consumer Tech reporter