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The Best Ways to Use a Few Hundred Dollars

Sometimes it can feel like you need thousands of dollars to move the needle on your finances even a little bit.

So if you find yourself with a few hundred dollars--say from a tax refund or an unexpected windfall--the temptation to spend it can be great. After all, how much difference can $500 make? But used wisely, even a few hundred dollars can put you on the road to a more financially secure future.

Here are some ways to make even a small amount of money count: 


  • Start an emergency fund. Ideally you want six months of living expenses stashed to cover unforeseen expenses, but $500 is a good start. And once you have a good start, it can spur you to keep contributing.
  •  Take advantage of compound growth. Before spending that money, consider putting it into your IRA (individual retirement account). Not only will compounding increase your balance over time, but increasing your pretax contributions can cut your tax bill.
  •  Save for a bigger-ticket expense. Whether it’s for a major house renovation or a dream vacation, put the money in a credit union savings account; whenever you have a little extra money come in, set it aside as well. You could end up with a gift the whole family will cherish for years.
  •  Donate to charity. If you itemize deductions on your tax return, consider helping an organization whose works you admire. Not only can you deduct the gift, but it might ultimately mean more to you than spending the money on yourself.


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Copyright 2018 Credit Union National Association Inc. Information subject to change without notice. For use with members of a single credit union. All other rights reserved.


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The Courier Best of the Best 2018

It’s that time of year again for the Waterloo Cedar Falls Courier “Best of the Best” voting. The Cedar Falls Community Credit Union has been an honorable mention the last 15 out 15 years that the voting has been conducted.

This is important to us because we want the Cedar Falls Community Credit Union to be known in the Cedar Valley as the place to go in order to handle your financial services. If you've had a positive experience with Cedar Falls Community Credit Union, please go and vote to help let the rest of the Cedar Valley know.

Also, if you have a favorite teller or loan officer you may write their name in on the ballot to show appreciation for their services as well. The link provided below will take you to the online voting for "Week 1: Services, People, and Medical" categories, which ends this Sunday, June 17th at noon. Make sure to vote for your other favorite services in the Cedar Valley, the categories will change every Sunday.  



Thanks for your consideration and we look forward to seeing you soon. Don’t forget to stop in and check out our summer loan offers, and get your Adventureland or Lost Island tickets that we have for sale.  

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