Smart Ways to Use Your Holiday Gift Money
Did you receive cash or checks as holiday gifts this year? Before that money burns a hole in your pocket, let's explore some smart ways to make it work for you. Whether you're a young saver just starting out or an adult looking to grow your wealth, Public Service Credit Union has options to help your holiday money grow.
For Our Young Members: A Special Opportunity
If you're under 18, we have an exciting opportunity you won't want to miss. Our Minor Share Certificate is currently offering an impressive 4.00% APY – that's one of the highest rates in central Wisconsin! Here's what makes this special certificate amazing:
Open with as little as $100 of your holiday money
Lock in this great rate for 12 months
Watch your money grow without any maintenance fees
Perfect first step into the world of investing
Let's look at an example: If you deposit $500 of your holiday money into this certificate, you'll earn $20 in interest over the year. That's like getting an extra birthday present just for being smart with your money!
Adults: Make Your Holiday Money Work Harder
For our adult members, we offer several ways to maximize your holiday cash:
Regular Share Savings Account
Perfect for building an emergency fund while keeping your money easily accessible. Plus, dividends are paid quarterly, so your money starts working for you right away.
powerhouse Money Market Account
If you received a larger sum or have been saving for awhile ($10,000 or more), consider our Powerhouse Money Market Account. You'll enjoy higher yields than a regular shares account while maintaining access to your funds when needed.
Holiday Club Account
Start planning for next year's holidays now! Put some of your holiday money into a Holiday Club Account, and you'll earn interest all year long. When the 2025 holiday season arrives, you'll have a nice sum waiting for you.
“Remember, it’s not about how much you start with – it’s about starting the habit of saving early and consistently.”
Why Starting Early Matters: The Power of Compound Interest
Did you know? If a 12-year-old starts saving $100 of holiday money each year in our Minor Share Certificate and continues saving regularly through our adult products, they could accumulate over $30,000 by age 30 (assuming consistent deposits and reinvested interest).
Tips for Making the Most of Your Holiday Money
Follow the 70-20-10 Rule:
Save 70% for long-term goals
Spend 20% on something you want now
Share 10% through charitable giving
Consider Multiple Accounts:
Put some money in easily accessible savings
Lock some away in higher-earning certificates
Save some specifically for next year's holidays
Ready to Get Started?
Visit the credit union to open your account today. Our friendly staff will help you choose the best savings options for your holiday money. Remember, it's not about how much you start with – it's about starting the habit of saving early and consistently.
Want to learn more about our savings options? Call us at (715) 842-9865 or stop by our branch. We're here to help you make the most of your holiday gifts and start 2025 on the right financial foot!
Start your journey to financial success today with Public Service Credit Union!