Category: Personal Finances

Keep Your Summer Spending in Check: 5 Tips to Try

Summer can be expensive. Here are a few ways to keep your spending under control.

Summer can be expensive. Here are a few ways to keep your spending under control.

Ah, the sights, sounds and smells of summer! The warmest season of the year is well under way, and it has brought increased daylight, more time to do things and more ways to stay active. The only problem is all of this fun costs money.

If you’ve looked at your accounts lately, you may have noticed this. We’re not trying to take any fun out of your summer, but rather help you avoid the very “un-fun” reality of missing payments or going further into debt.

What you need to keep your summer spending in check is a plan of action. This plan will help you reduce your spending both mentally and in real-life settings. Let’s take a look the five parts of your plan.

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Get Your Finances Back on Track with a Check-Up

Has the summer put a wrench in your finances? Get them back in shape with a Mid-Summer Financial Checkup

Has the summer put a wrench in your finances? Get them back in shape with a Mid-Summer Financial Checkup

If your summer has been anything like ours, things have been a little crazy. Between activities, weddings, trips and finding things for the kids to do, your life and your finances can get a little out of whack.

Peoples Bank & Trust wants to give you a chance to revisit goals or resolutions you made with our Mid-Summer Financial Check-Up. It covers spending, saving, retirement, loans and mortgages. Whether you need to complete the specific items we highlight, or reading through it reminds you of tasks you need to complete, we hope our guide puts you on a better financial path for the rest of the summer.

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Bon Voyage! Summer Vacations and Debit/Credit Card Safety

Travel safely with your debit and credit cards by sticking with these simple tips.

Travel safely with your debit and credit cards by sticking with these simple tips.

Summer is a great time to take a vacation and travel to new places.  No matter where you are going, the easiest way to take “cash” with you is by using a debit or credit card.  Although it is easier to travel with your card than with a heavy wallet, there are various risks that arise when traveling with a credit or debit card.

Whether you are traveling a few hours away or across the ocean, Peoples Bank & Trust wants to supply you with information to consider before you take off with your debit or credit card.

  • Before you leave for your destination, call your bank to let them know that you will be using your credit or debit card in a different city or country. It is important to include where you will be going as well as how long.  Your bank wants to protect you, so if they see your card being used 1,000 miles away they may put a hold on your card unless otherwise notified.
  • Always keep your credit or debit card in a safe compartment. Again, whether you are staying within the country or going overseas, always keep your card in a secure bag or wallet. Consider a bag that can be zipped shut or a bag or wallet that is easy to carry so you won’t accidently misplace it.  For men, it is often times handy to use a front pocket wallet for extra protection against pickpocketers.
  • Consider using a credit or debit card that is set up to an account with limited funds. In case of card theft while on vacation, it might be helpful to have a special travel card set up to a separate travel account.  Although it would be less than ideal to have your card lost or stolen, a travel account would minimize your risk of total loss.

Summer traveling should be a time for fun and relaxation!  Properly preparing your credit and debit cards will help contribute to a worry-free vacation.  Peoples Bank & Trust is here to help if you have any further questions regarding credit or debit card use while on vacation.

Feel free to give us a call or stop in anytime!

 

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

 

Getting Married? Don’t Break the Bank, Create a Budget!

Creating a budget for your wedding will help save you from expected costs and over spending on your special day.

Creating a budget for your wedding will help save you from unexpected costs and over spending on your special day.

Weddings are wonderful events that bring new families together and serve as reunions for old friends.  Aside from having all of the people you love most gathering in one place, the ceremony, the reception, the music, the flowers and everything else also make a wedding memorable.

However, weddings can also be a bit of a burden financially speaking, regardless of who is actually paying for them.  So far in 2015, the cost of weddings is at an all-time high averaging around $31,000!  Whether you or your son or daughter plan on spending $5,000, $15,000 or $50,000, the costs of a wedding can add up quickly if you don’t budget where your money will be going before you start spending.

If you or your son/daughter is getting married this wedding season, Peoples Bank & Trust wants to help you take control of those wedding costs.  Here are some things to consider when creating your budget:

  1. Who’s paying for what? Discuss how much you and your future spouse would like to spend, then have that conversation with your folks to determine how much total money will be allocated towards the wedding.
  2. Decide on what’s most important. Explore what type of wedding you would like to have compared to what you can afford. Want that grand ballroom or a professional photographer? Examine these areas you want to “splurge” on, so you can distinguish the areas that you are willing to save on to balance out your budget.
  3. Stay on track! You, your future spouse, and your families created a budget for a reason, try and stick with it! Weddings can be notorious for having hidden costs, so be prepared to cut back in other areas of your life to stick to your budget and to be prepared for those hidden extras.

Don’t let the cost of a wedding scare you.  As always, you can turn to Peoples Bank & Trust if you need extra financial guidance. Our financial experts are great resources to help you budget and finance for the big day!

Don’t hesitate to contact us for more information.

 

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

 

Going Green with Your Home This Summer

Use these tips to help make your summer home improvements work for your wallet and the environment.

Use these tips to help make your summer home improvements work for your wallet and the environment.

 

Summer is a great time to start tackling all those projects on your home improvement list!  These days, many folks are choosing to take the “going green” route when making their home renovations.  While “going green” can be more efficient, be better for the environment, and even pay itself off in the long run, often times the high-efficiency appliances can be more expensive.

So, if you’re wanting to go green with your home improvements this summer, Peoples Bank & Trust has some tips on how you can get started:

Step by Step Improvements.  Make an organized list of all of the home improvements that you want to get done this summer.  Then, label each task in order of importance.  Whether you decide to have your order of importance based on cost or functionality, this will help you prepare a budget and get done what needs to be done.

Consider a Second Opinion. For many folks, going green can be somewhat confusing.  You know you want to be more energy-efficient, but what products are the best options to invest in?  There are many builders or energy focused nonprofits that are willing to inspect your home and give ideas on “green” specific appliances or updates.

Be Patient for that “Payback Period.” Once you have completed your energy efficient renovations, it may take a while (even years!) for you to see the cost savings of your energy efficient appliances or updates.  Don’t worry, some of the best improvements take years to see the best bang for your buck.

Although making these high-efficiency improvements is becoming more popular and pays itself off in the long run, these type of renovations can be a large and expensive task.  Peoples Bank & Trust wants to help you get those improvements done and a home equity loan may be just what you need.

Contact us today to learn more about home equity and how we can help you achieve a “greener” home!

Peoples Bank & Trust Co.

Member FDIC

Equal housing lender

 

Making Extra Summer Cash

Earn some extra summer cash by looking for seasonal jobs.

Earn some extra summer cash by looking for seasonal jobs.

 

The summer is upon us and you or your kids may have found you have extra time on your hands. A great way to spend your extra time this summer is by picking up a second or part-time job. The summer offers a variety of seasonal jobs that are a great way to make some extra summer cash. Here are a few ideas on potential summer jobs:

  1. Turn your spring cleaning into summer cash. Consider teaming up with some neighbors to have a garage sale or think about using online sale forums to sell your lightly used goods and furniture.
  1. Start up your own lawn maintenance services or join up with an existing one.  Working for the city by mowing park lawns is a very popular summertime gig.  You can also start up your own service by working for neighbors, friends, and family and having them spread the word for you.
  2. If you are a college student out for the summer, or are a school teacher, check out becoming a summer tutor.  Being a summer tutor can look great on a resume and is also a great way to stay sharp during summer break!
  3. Many people take vacations in the summertime, so offer to house sit for your neighbor or family friend.  House sitting could include simple tasks such as getting the mail, watering plants, pet sitting, and/or periodically checking on the house.
  4. Check your community and surrounding areas for summer specific jobs like amusement parks, golf courses, ball parks, or lawn and home care department stores.

Since your spending usually increases in the summer, it is a great time to spend your free time making a little extra cash.  Peoples Bank & Trust is here for all your banking needs, including setting up accounts or investing the extra cash you may make this summer. Call or stop by today to see how we can help!

Peoples Bank & Trust Co.

Member FDIC

Equal housing lender

 

Common Scams Aimed at Seniors

Protect your aging family and friends by sharing these common scams aimed at seniors.

Protect your aging family and friends by sharing these common scams aimed at seniors.

May is Older Americans Month, so Peoples Bank & Trust is bringing you vital information about common scams aimed at seniors. Unfortunately, senior citizens are the target of many scams because attackers take advantage of their age. Today we are discussing four common scams aimed at seniors.

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Financial Advice for Graduates

blog-grad-financial-tips

Graduating from high school or college is an honor. You will be off on a new journey in your life and nothing is holding you back. One problem with this scenario: have you considered how much money you have saved for life’s next adventure?

Today, Peoples Bank & Trust is bringing you financial advice for graduates so your transition to the next chapter can be a little easier.

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