Monthly Archives: February 2018

Web Security for Small Business Owners – What You Need to Know

It’s a typical day for a local real estate agent, until the click of an email threatens the entire business. Large corporations, small businesses and, as shown in recent days, not even the government are immune to cyber-attacks.

Why it’s Important

If you’re a small business owner, you may think you are too small for cybercriminals. However, the opposite is true as they don’t particularly care about the size of the data, but the value. If you have customer’s contact information, health data, credit card information or intellectual property- they want it now. Did you know that 43 percent of cyber-attacks target small businesses, and that normal hacks to operations cost an average of $955,429 to recover? It’s of the utmost importance that your customers feel they can trust you with their information and that you follow through on that trust. Cybercrime is becoming the world’s largest business, and here is what you can do to protect your business -even if you don’t have a lot of room in your budget for security measures.

1). Have Tight Communication

You may not have the ability to provide each of your employees with their own technology devices, which means they may use personal devices for company use. This can open you up to many potential risks. You may want to create guidelines for using these devices and ensure that they are regularly updating passwords and following through on security updates. Fax is still the most secure form of communication in the business world-don’t be afraid to still utilize this!

2). Establish an Action Plan

Create a simple security plan and share it with all of your employees, so they know that everyone is responsible for protecting data. It is worth the investment to hire an IT consultant to be monitoring your protocols, but if you cannot do that at this time, designate a current employee to oversee this. They should be informed, oversee basic security requirements and ensure the requirements are updated and used. Sixty percent of businesses don’t survive a security attack. For the longevity of your business, it is incredibly important to take this seriously. Use the FCC’s helpful Cyber Planner here.

3). Create Strong Passwords, Patching & Encryption Software

Most businesses stay ahead of the game by simply creating secure passwords and patching their systems. Patching fixes security vulnerabilities with bug fixes and improving performance. Hackers can easily crack into your business through a weak web or email server.  As a small business, setting up a Virtual Private Server would be a terrific option combined with encryption software. So, even if a hacker was able to get into your system, they wouldn’t be able to decipher the material. An additional layer of security for clients would be to adopt PayPal or Square for protecting your customer’s financial information.

4). Educate

Unfortunately, most security breaches are due to a negligent employee or contractor. This reiterates how important it is to hire people you trust. Although you may not be able to thwart off every threat, educating your employees about cybersecurity either through weekly articles or full courses will help to better protect your growing small business. These practices should be integrated across all areas of your operations as well as having a response plan if this does occur. Remember, nobody is safe from Cybercrime!

 

Grocery Bootcamp – Shopping Healthy on a Budget for Two

Buying groceries, healthy eating and budgeting are three challenging tasks that many people struggle conquering altogether.  Whether you and your partner have been together many years or are just starting out, we have some great tips for you both to win the war on grocery shopping. Consider us your sergeant by following this simple training method ASAP.

Commit

If you aren’t both on the same page, you will have a hard time succeeding and inevitably fail. It is imperative that you sit together to discuss what you want to get out of this and that you are mentally prepared for the journey ahead. What type of diet are you seeking to maintain? Research what type of foods you will and won’t buy so you know exactly where the line is.

Plan

  • Your Budget: The first month of Bootcamp, we only want you to keep track of your expenses both grocery and dining out. From then on, your goal should be to spend no more than that amount. An average aim for many is to stick to $100 a month per individual. This may or may not work for you, but find out what does.
  • Meal Prep: This is crucial to your success. You know what kind of diet you would like to have, so search for recipes that will enable you to have healthy, planned meals. This will help to prevent you from swinging in for fast food or other impulse buys.  Once you have the groceries, prep the food right away to make the week of eating easy. Be sure you eat the fruits and veggies with the shortest shelf life first.

Shopping

  • Find Deals: While you may not have the time to clip out a lot of coupons, make a point to check the weekly ads to see what the deals are. Apps like DealstoMeals will even help you to find discounts in your shopping area.  Every little bit helps and this is just more opportunity the two of you have to crawl through the trenches together.
  • Make a Price Book: This a great resource you can make for yourself to keep track of items that you habitually buy, so you know when and where to buy what.
  • Be Flexible: If a needed recipe item is twice the price you thought it would be, substitute for something else. If the produce is not in season, frozen is a great alternative.

Execute

You have the basics, so now it’s time for the follow through. Say no to temptation. Once you have spent your allotted budget, there is NO more going to the store. You will get better as you strengthen your skills, but until that time stay the course. Dismissed!

Love and Money: Five Common Mistakes

No couple likes to fight, especially when it comes to finances. Unfortunately, money is the leading cause of stress in relationships. And this isn’t only a problem for couples who are tight on money, as a survey has shown that the more your income increases, the more finances will put a strain on your relationships. What this shows is the importance of being on the same page as your partner when it comes to finances, no matter your incomes.

Peoples Bank & Trust has compiled a list of five common mistakes couples make with their money and how you can avoid them to lessen the stress on your relationship!

  1. Not Talking About Money Before Marriage

It’s important to have an idea of your future partner’s spending style. Is your partner tight with money because they grew up not having a lot? How does this impact how they envision your lifestyle once you are married? What’s their credit score?  It is important to have this conversation, in order to refrain from becoming upset or surprised when one of you splurges/invests. This keeps a nice checks and balances. Take this fantastic quiz to figure out your money type!

  1. Not Having a Budget

If you are too late to avoid mistake #1, this is the perfect time to have that conversation with your spouse. “Failing to plan is planning to fail.” Take stock of what you have coming in, what you owe and what you have for “extras.” This will help to prevent keeping secrets from each other about your spending, because everything is on the table.  Be sure the budget works for BOTH of you, long term.  You can even get your kids involved in order to teach them about money and why having a plan to stick to is important.

  1. Not Having Separate AND Joint Accounts

Are you a couple who only has a joint or separate account? We recommend both! Joint accounts make it easier to share in bills and debt together. However, it is still important to have your own account, so you can still feel autonomous in your decisions to splurge (within range of your budget).

  1. Waiting 30 Years to Pay off Your Mortgage

Just because it is an option, doesn’t mean you really need to take 30 years to pay off your debt! If you do take the full term to repay the debt, you will pay significantly more in interest. Every extra payment that you make towards your home will be applied to the principal balance. This will enable you to sign that last mortgage check much sooner, permitting you to put money toward retirement, or other goals you have together.

  1. Letting One Person Make Decisions

Even if only one of you is bringing in a salary, it is imperative that you are both involved in the financial decisions. If you have one person who is physically making the payments, you should both be reviewing your finances monthly, and making adjustments as needed. Friction can happen when one spouse makes the financial decisions causing the other to feel like a child with a set amount given to them each month. Even if one of you is more financially smart, both should be included in the decisions. There is less of a need to keep secrets from one another when you both have purchase power and communication about your short and long-term goals.

Making a plan and sticking to it together can help lessen financial stress in your relationship. If you feel stuck on where to begin, set up an appointment to speak with one of our specialists at Peoples Bank to help get you both on track to being in charge of your finances.

 

Cheap Updates to Improve your Kitchen’s Value

Mario Batali said, “The kitchen really is the castle itself. This is where we spend our happiest moments and where we find the joy of being a family.” Do you find people leaving the comfort of your plush rugs and pillows to only be leaning against your laminate counter talking for long periods of time? If you find your guests and family gravitating to the kitchen, why not make it a significant experience for them?

Peoples Bank & Trust is here to give you ideas for how you can improve the value and experiences of your kitchen on a budget.

Lighting
Having the right lighting can dramatically change the vibe of your kitchen. Even if this is the only tip you utilize, it is sure to make a difference. You can typically find reasonably priced lighting at large hardware stores, or online. Pendant lights are a current trend that people are drooling over.  If you have old-school vintage lighting, you can update it by replacing the lights with Edison light bulbs and spray painting with a metal finish or coordinating paint. Additionally, adding under cabinet lighting will help to soften the kitchen. This can help it to appear bigger and more welcoming to those large groups that always find their way into your kitchen!

Storage

Get that clutter put away! Not only will your kitchen look smaller, but having too many items on the countertops can keep it from looking modern as the minimalist look is on the rise. Look for new ways you can utilize your storage, or create more. Maybe it’s time to get rid of some appliances that you never use. You could sell these to make some extra cash to go towards revitalizing the room. You can purchase a pull out storage kit and drawer organizers to maximize what you have for space, without needing to do a complete cabinet remodel.

Paint

You don’t have to be an expert designer to use paint! Although it may be tedious, it’s a cheap way to up the value of your home by making it look fresh and clean. Here are some items you can paint to dramatically change the feel of your kitchen.

  • Cabinets- If you don’t have the money to spend to update your tired cabinets, grab some sandpaper, primer and a light colored paint. Professional designers recommend light or citrus colors. Even removing some of your cabinet doors to showcase your favorite dishes will modernize the room. Paint the inside shelves white to really make it pop!
  • Focal Wall- Paint one wall in your kitchen a few shades darker than the other walls, to create an accent wall. This will give more dimension to your home and be a quick fix. Try out Chalkboard paint to make it even more fun!
  • Island- If you have an island, paint this a bright color.
  • Floors- If you have weathered floors, look into mixing it up with painting them a fun design like these. This is much less expensive than completely replacing your flooring and you can always add a comfy rug to add even more appeal.

Accessories

If you don’t have the time to complete a large project, these simple additions are another option.

Put new handles and pulls on your cabinets that are sleek and current. Don’t choose anything that has too much character, because if you sell your home in the future, potential buyers won’t find it amusing.

You may not be a plumber, but it doesn’t take too much skill to replace your faucet. There are so many options on styles and functions, you will be pleased with how much you can enjoy this simple addition.

While you don’t want to darken your kitchen too much, adding window treatments amplifies style and privacy. You can make your own out of kitchen towels or buy roman shades.

You may not have spent the whopping average of $21,907 on a kitchen remodel, but you will definitely have added value to your kitchen and to your guests’ experiences!