Unexpected Income

What to do with Unexpected Income

In reality, chances of winning such a lottery are very slim. However, inheriting money or even getting a bigger-than-expected tax return is not unlikely. Here are 5 tips from Mutual Savings Credit Union for putting your unexpected income to good use.

Tip #1: Prevent your tax refund (or any unexpected income) from vanishing.
Your income tax refund can be a quick fix to pay bills or make needed purchases. You’ve probably noticed in the past that your refund can disappear before your eyes. This year, Mutual Savings wants to help prevent your tax refund from performing a vanishing act with an emergency savings fund or a secured loan. Learn more about this strategy by visiting this page.

Tip #2: Make a down payment on a new home or vehicle.
Using your extra money towards a new home or car can have a positive impact on your loan’s rate and term. Plus, MSCU has an unbeatable offer for mortgages and vehicles of all types going on right now!

Tip #3: Earn points when spending your unexpected income.
Appliances, clothes, furniture – spending your unexpected income on items you really need now is a perfectly acceptable option. Why not earn rewards points from these purchases? With MSCU’s Rising Rewards Checking accounts, you can earn rewards points that can be redeemed for electronics, gift cards, travel packages and other great items – just for using your debit card!

Tip #4: Make someone’s day with a gift
What to make someone’s day with your extra money? Sharing your wealth is easy than ever with a VISA® prepaid debit card from MSCU. These cards can be loaded for your desired amount and are protected with a secure PIN. No checking account is required for these debit cards that can be used online and in stores.

Tip #5: Grow your money and protect your family with TruStage.
TruStage insurance and investment products are made available to Mutual Savings Credit Union members through the companies of CUNA Mutual Group, who has been working with credit union members like you since 1935. Using your extra money to get the peace of mind that their insurance products can give is a great option for you and your family.

These are just 5 ways you could use your extra money. If you have questions or want to learn about other options, feel free to contact a Mutual Savings representative by calling (800) 950-6728 today.