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. Our Club Accounts are an easy way to save a little each paycheck with a higher interest rate than a regular savings account – plus, our automatic payroll deduction can help you set it and forget it.

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 your 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.

Start a youth CD. Set your child up for a bright financial future. Our youth CD’s can be opened with as little as $500. 

A small amount really can make a big difference in your financial journey if used wisely.