Monthly Archives: April 2016

The Top 5 Budgeting Apps to Get You Organized

Budget

Have you noticed yourself hitting the “check out” button a little more frequently when you shop on your phone? You’re not alone. In 2015, mobile commerce grew to a staggering 30% of all U.S. online shopping. This shows a growing trend of mobile purchasing moving billions of dollars in sales via handheld technology.

While smart phones enable spending, they can also be powerful tools for strategic saving. Check out these top budgeting apps and learn how to easily keep track of your finances.

  1. Mint. By pulling all your balances and transactions into one simple design, Mint allows you to see the big picture. You can add accounts, cards, and bills and track spending patterns and investments in real time. A budget calculated by your average spending will break down where your cash is flowing from month-to-month and year-to-year so you can watch your savings progress over time. (Free)
  2. PocketGuard. If spur-of-the-moment spending is your weakness, PocketGuard is here for you. Connecting directly to your bank accounts, the app’s home screen tells you how much you’ve spent for the day, week, or month in relation to your income. With transactions automatically updated 24/7 you have an instant visual of your personal cash flow. (Free)
  3. Level Money. This helpful app aids you in spending for the short-term and saving for the long-term. By analyzing your income and expenses, Level Money reveals a daily allowance to help you save for a larger purchases or pay down debt. Connect the app straight to your bank account and create goals for saving and spending, all backed by a planning module that sends reminders and encouragements to help you stick to your goals. (Free)
  4. You Need a Budget. YNAB operates on four rules; give every dollar a job, save for a rainy day, roll with the punches, and live on last month’s income. This app adjusts your entire budget to prevent overspending. This app also ensures a constant safety cushion of funds so you’re never scrambling to cover unexpected expenses. ($5/month or $50/year)
  5. Good Budget. Unclutter your envelope budget with this exciting app. Instead of juggling a stack of envelopes for different expenditure categories, you can open digital folders on one simple screen. For joint accounts, you can easily synch the app with your spouse across multiple devices to prevent double dipping into funds. ($15/3 months or $24/6 months)

If you’re ready to take the first steps in re-evaluating your budget stop by Peoples Bank & Trust today, we’re here to help with your budgeting needs.

Peoples Bank & Trust Co.

Equal Housing Lender

Member FDIC

 

Taking Baby Steps to Eliminate Your Debt

Eliminating Debt

As of 2015, the average American with credit card debt owes $15,762 – and that’s just credit. Auto loans, student loans, and mortgages add thousands of dollars and years of repayment to your personal finances. However, debt doesn’t have to be a life sentence. Once you and your partner have made the commitment to work towards financial freedom, follow these steps from Peoples Bank & Trust to begin eliminating debts:

  1. Establish an emergency fund immediately. Unexpected events can take a harder hit on your savings than unbudgeted spending habits ever could. Even if you’re juggling a current debt or two, work to set aside $1,000 as soon as you can in a separate emergency checking account. As you chip away at remaining debt, this cushion can protect repayment plans from being flattened by a faulty car battery or flooded basement.
  2. Adopt the Debt Snowball method. Instead of listing them highest to lowest by interest rates, arrange debts from smallest to largest. Paying off a handful of small debts in the same time it’d take to chip away at a large one eases burdens, yields immediate results, and provides motivation to continue saving.
  3. Reduce your rates. Refinancing your mortgage and negotiating lower interest rates on credit cards can make a huge impact. Reevaluating your health, life, and auto insurance policies may reveal services you don’t need, or it can spur you to shop around for providers with lower rates.
  4. Chop extraneous expenses. Create a list of unavoidable monthly expenses – rent, utilities, gas, food, etc. Then create a second list of leisure expenses – gym memberships, cable, eating out, clothing. After budgeting for the necessities, pick a few discretionary categories you’d like to keep with reduced spending, but cut the rest. Putting your spending on a diet is easier when you allow yourself a few modest outlets.
  5. Evaluate progress monthly. Creating a multi-year financial plan for eliminating debt is the first step, not the only one. Perform a monthly check-up on your plan to continue spending within your budget. It can also provide a boost of encouragement when you see progress, and you might spot ways in your new financial routine to make your budget even more cost-effective.

It may be a long road to eliminate debt, but it’s within your ability to travel it. Don’t go it alone – contact Peoples Bank & Trust Co. today to help you create and stick to your financial plan.

 

Peoples Bank & Trust Co.

Equal Housing Lender

Member FDIC

 

Business Services: Financing Your Future

Business Accounts

Growing your business is a 24/7 job. Between promoting products and services, and managing the books, your inventory of hats continues to grow. At Peoples Bank & Trust we’d like to help you do what you do best. With our capable financial tools we can help you focus on tackling the day-to-day tasks while we help you ensure a brighter financial future for you and your business with our structured business centered services.

Deposit Accounts: Manage your funds through a checking or savings account to help your business maintain the cash flow it needs! Transfer funds and monitor transactions with our convenient online banking portal.

Business Credit Card: Every business needs capital to help it continue to grow. While using business credit cards from Peoples Bank & Trust you’ll receive monthly expenditure updates to help you track your spending. You can easily set spending limits for individual employees.

Small Business Services: Make the most of your time and your money with our helpful small business services. We’ll help take out the strain from processing transactions, and transferring funds, to help you focus on running your business.

  • Remote Deposit Capture: Securely deposit checks into your business banking account from your office. Using a scanner and web-based software, check images are encrypted and transmitted to the bank for deposit.
  • Merchant Card Processing: Accept debit and credit card payments for your business. Through Peoples Bank & Trust, you have all the benefits of low processing rates and quality customer service.
  • Wire Transfers: Send funds quickly and easily with this convenient service.

No matter your business size, Peoples Bank & Trust is here to assist in all your business’ financial needs. With options to fit every operation, we have the optimal solutions to help your business grow! Get started today and speak with one of our experienced lenders to see how your business could benefit with Peoples Bank & Trust.

 

Peoples Bank & Trust Co.

Equal Housing Lender

Member FDIC

Community Banks: The Advantages of Banking Local

Banking Local

At Peoples Bank & Trust we pride ourselves on providing the best and most reliable service to our valued customers. Being a local community bank we offer unique insight into the inner workings of both commercial and personal financing, giving you, the consumer, the most bang for your buck. The next time you’re considering working with a locally operated bank, remember these important characteristics that truly make community banks stand apart from the rest.

Financing Farmers: Did you know that community banks make up almost 90% of all agricultural loans in the United States? By providing local producers with the capital needed to operate their business, banks like Peoples Bank & Trust are doing their part to help feed America.

Employing Citizens: With 51,000 community banks nationwide, the local banking sector employs approximately 700,000 Americans in their immediate areas, while also creating endlessly opportunities through their small business financing.

Rooted History: Knowing how to predict markets and financial tangibles is something that only time can teach. With more than 2,500 community banks stretching well over their first century, community bankers work together to share a wealth of knowledge when it comes to analyzing the past and anticipating the future.

Supporting Small Business: America was founded upon hard work and dedication. The idea that you can create anything you want is the dream. Community banks continue to help make those dreams happen by financing more than 50% of all small business loans within the United States.

Lasting Relationships: When working with a community banker you are not working with someone under the thumb of management, who takes months for approval. By banking locally with Peoples Bank & Trust you speak one on one with your lender, no red tape guarding your next financial decision.

There are volumes of reasons why banking local can help secure you a better financial future. This April we celebrate Community Bankers month to showcase the advancing capabilities of local financing institutions and the unparalleled service they offer. If you want to start banking locally with Peoples Bank & Trust, call us at (636) 528-7001 or stop by today!

 

Peoples Bank & Trust Co.

NMLS# 407724

Equal Housing Lender

Member FDIC