Category: Savings

Most Common Money Mistakes to Avoid This Summer

Most Common Money Mistakes to Avoid This Summer  

We all tend to want to relax, let loose, and have a little extra fun in the summer months. Don’t let that summer fun lead to overspending or big money mistakes. Maintain your budget by reading up on the 12 most common money mistakes to avoid this summer.  

1. Not Setting Your Summer Budget 

A huge mistake we all tend to make during the summertime is not adequately planning out activities – especially the pricey ones and setting an accurate budget for them. Overspending on activities is a huge factor that may take you over budget. We know fun tends to happen out of the blue in the summer, so be prepared for that and do as much planning prior.  

2. Not Budgeting for Gifts  

Summer is the prime time for celebrations such as reunions, weddings, graduations, etc. You’ll thank yourself later if you start budgeting for those gifts now rather than later. Keep your celebration expenditures within your budget.  

3. Keeping Your Home Too Cool 

Your air conditioner is probably the most expensive item on your energy bill. When you are gone or the weather is cool, don’t run it! Saving energy here and there will help lower the bill for some additional savings and keep you from a hefty bill.  

4. Keeping the Blinds Open During the Daytime 

We all love the summer sunshine, but during the summer it’s worth it to keep those blinds closed. If you are running your AC and have your blinds open during the day, you are heating your house up and your bill is likely to soar.  

5. Spending Too Much on Summer Activities for the Kids 

Whether it be for a babysitter or day-to-day activities, map out your plan for summer. All parents want to keep the kids occupied and allow them to have tons of fun this summer. Map out your plan for childcare and make sure it meshes well with activities for them, so you aren’t paying for both every day. Look into day camps or babysitters that also help with your kid’s friends, that way you can get the biggest bang for your buck. 

6. Buying Out-of-Season Produce 

We all tend to want fresh produce during the summer as it is refreshing and a great treat. Make sure you check the prices, especially on out-of-season produce to avoid overspending on produce that may not be the best. Check out the farmers’ market to grab produce for less. 

7. Choosing Vacation Over Staycation 

A vacation may be a huge chunk of your summer budget and it may take even more if you haven’t booked the details yet. Rather than rushing to plan, push for a staycation to take a break but vacation close to home.  

8. Not Waiting for End-of-Season Sales  

Summer purchases in season can be spendy. Look to purchase towards the end of the season to save hundreds on those big-ticket items when you upgrade the grill, patio furniture, pool accessories, etc.  

9. Not Canceling Subscriptions and Memberships 

Cancel those subscriptions and memberships you can live without during the summer. Get rid of your gym membership and exercise for free outdoors! Challenge yourself to go a few months without streaming subscriptions or narrow down to keeping just one.  

10. Not Taking Advantage of Lower-Priced Activities 

There is a lot going on in the summer, so before you spend your summer savings on activities, do your research for lower-priced or free activities to enjoy and layer those with outdoor activities. Take advantage of outdoor carnivals, festivals, water activities, sports, parks, and recreational activities.  

11. Overspending Too Much on Summer Fun 

For some activities, rather than purchasing a day ticket, you can get a summer membership or a month-long membership to enjoy the fun longer and get some sort of deal. Take advantage of these opportunities that have a set cost to budget for. 

12. Not Making a Meal Plan  

Meal planning is huge in the summertime. Go to the store with a list and meal options in mind to work seamlessly with the week you have ahead. It is great to plan for snacks on the go as well to avoid mindlessly spending money on food out.  

Take some time to plan out your summer expectations, events, and budget to save yourself from making one of these money mistakes. Make your summer fun and financially efficient with these tips! 

Peoples Bank & Trust Co. 

Member FDIC 

Equal Housing Lender 

5 Tips to Try Before Digging into Your Savings

5 Tips to Try Before Digging into Your Savings

We have all been there when either an emergency comes up or money gets tight. It may feel like an easy solution to dip into your savings but don’t allow that to be your first solution as if you do it once, you’re more likely to make a habit of it. Allow your savings account to be untouched and have the opportunity to grow. Try these five tips before resorting to your savings, you can thank us later.  

Rework Your Budget  

The first thing you should do if you are feeling short on money is to look at your budget and see what that allows for you. If you find yourself looking to dip into your savings frequently, that is a major sign something may be off with the budget you have set for yourself. Take a deep dive into each of your categories and see what needs an adjustment to better fit your financial situation and lifestyle. Sometimes your budget can dramatically change from season to season and that is completely normal. Those small daily expenses over a period of a month can really add up and need to be accounted for.  

Adjust Your Subscriptions 

If you are short on money, a great way to save a good chunk quickly is to adjust your subscriptions for a few months. $10-$30 subscriptions add up over time, so maybe it is time to unsubscribe for a while to save up enough to cover your expense.  

Add a Side Hustle 

Side hustles are a great way to make cash fast. Whether you pick up a part-time job or a hobby to make some extra cash, consider giving a side hustle a shot before you dip into your savings. You may be surprised what a seasonal job or selling some things can do to your wallet.  

Try Cash Only  

When you are having a hard time sticking to your budget sometimes it’s helpful to identify where your problem areas are. Switching to an all-cash budget is a great way to challenge yourself to stick to your budget and see what you have leftover. Set up auto debit for your bills and savings contributions. Set how much money you will need for say a week or a month and stick to using only that to get by.  

Build an Emergency Fund 

If you don’t already have an emergency fund, now is the time to start one! Peoples Bank & Trust Co can get you started immediately with a savings account for you for your emergency fund. Emergency funds are crucial to have for instances where you may feel like you need to dip into your savings because they are made to help you out when the un-plannable and un-thinkable happen. These funds are to be used for an emergency, so after to re-work your budget and looking to every other option to overcome being short on money, then you go to your emergency fund.  

Before you think to dip into your savings, remember to try out these five tips to guarantee budget and savings success moving forward to avoid touching your savings. Allowing your saving to grow is extremely important, so if you treat them as untouchable, the less you will ever try and use them. As you navigate your budget, savings, and emergency fund Peoples Bank & Trust Co is here to help and get you set up with the accounts you need for success! 

Peoples Bank & Trust Co. 

Member FDIC 

Equal Housing Lender 

summer energy savings

Summer Energy Savings Tips

As the weather warms up, it is smart to think about how you can save money and energy this summer. Here are some tips on how to cut cooling costs but retain comfort in your home!   

Windows   

Windows – you’ve got to love them this time of year but if your goal is to save some money and energy this spring, here are some tips you may consider. First, be sure to check your window seals to ensure they are working efficiently for you. If you need to replace your windows, spring is the best time to get it done so you aren’t spending a fortune on AC all summer trying to cool down your home. As the weather is cooler, open those windows and shut off the thermostat – fresh air is the best and it is a very energy-efficient way to keep a comfortable temperature. As the weather warms up, you may consider adding window treatments or coverings such as drapes, curtains or a light shade to prevent heat gain during the day through your windows.   

Fans & Ventilation   

Having fans in your home can be a great way to cool down, but not necessarily cool your home. The big tip with fans is to shut them completely off when you are done using them. Once spring hits, be sure you have changed your fan’s direction to counterclockwise for optimum cooling. Leaving fans running throughout the day in hopes of cooling down your home will only raise your energy bill. Another tip when to turn on your fan is if you are trying to remove humidity or heat, such as when you are cooking and when using the shower. You may even consider ventilation in your laundry room if that gets hot. With all three of these options, be sure to check the fans are vented outside.   

Thermostat  

Have you heard of thermostat scheduling? Find what is most comfortable temperature-wise for your household during the day and when sleeping at night. Keeping your thermostat at the same temperature day and night could cost you quite a bit. The U.S. Department of Energy says the lower the difference between your indoor and outdoor temperature, the higher your energy savings.   

Like almost every other aspect of our daily lives, there are options to control your thermostat on your mobile device. This technology is fantastic for adjusting your temperature controls throughout the day as needed, especially if you’re out of town! Be sure to check over your air conditioner sooner rather than later and have regular maintenance scheduled. The worst-case scenario is mid-July you’ve got a broken air conditioner and a huge bill on the way to fix/replace it. A big tip for your room air-conditioning thermostat is to avoid placing objects that give off the heat too close. These objects could be a lamp, TV, fridge, etc. that give off significant heat when in use that can cause your air conditioner to run much longer than needed.   

Appliances & Lighting   

This may seem like an obvious tip, but more times than not the lights you’re using get overlooked. There are great options on the market for more efficient lighting that give off much less heat. The sun is out the most in the spring and summertime, so find ways to keep the lights off and operate solely on natural lighting. As for appliances when you are running, say your dishwasher or doing laundry, consider doing those in the evening when it cools off. Also, consider doing full loads as needed rather than smaller loads to stay caught up. The less you can run your large appliances, the more affordable your bills will be and your house may just be a bit cooler during the day.   

There are many great benefits to warmer weather, but it can get toasty! Incorporate these tips into your routine now so you can efficiently save some energy and money but still be comfortable.  

Peoples Bank & Trust Co. 

Member FDIC 

Equal Housing Lender 

emergency fund

6 Easy Ways to Jump-Start Your Emergency Fund

Are you struggling to get an emergency fund in action? It can be hard to understand the depth of what to start with, monthly contributions and how to build it up. An emergency fund is essential for unforeseen circumstances, a drop in income and all the chaos life can throw at us at any point. Most financial advisors suggest having enough in your emergency fund for 3-6 months’ worth of expenses based on your personal situation. The more you can build your emergency fund, the better!   

1. Start NOW

If you haven’t heard it already, the best time to start your emergency fund is NOW! Especially in the last few years, we can all agree to expect the unexpected. You can never plan for an unforeseen event perfectly but setting aside money to back you if there were ever a time when there is a huge expense or a change in your income will help you not be completely empty-handed. Do not be overwhelmed by what is suggested for a total amount when you are getting started. An emergency fund can vary from person to person based on their individual situation and family life. How can you start now? Contact Peoples Bank & Trust to open a savings account for your emergency fund today.  

2. Do NOT Touch It

Now that you’ve started your emergency fund, DO NOT TOUCH IT. Your emergency fund should only be used for emergencies. So, when in a position to potentially use your emergency fund, ask yourself a few of these questions:   

  • Is this purchase necessary?  
  • Is there another way to pay for this expense?   
  • How unexpected is this expense?   
  • How will this expense adjust your emergency fund?  

It is very important to consider the process for building and rebuilding your emergency fund. Once you set aside your rainy-day fund, it is very important you create or continue to follow a budget and LIVE BY IT!  

3. Separate Your Savings From Your Spending Money

When setting aside savings for your emergency fund, be sure to define the difference between your emergency fund, savings and your spending money. You can even label your accounts if you need to! This tip becomes much easier to incorporate and follow when you have indulged in the world of budgeting. The more you can cut out unnecessary spending and allocate a percentage of your earned income to your emergency fund, the sooner and faster it will grow to where you need it to be. 

4. Start a Side Hustle for Savings

Once your budget is finely detailed and your emergency fund begins to grow, add a side hustle to grow your emergency fund quicker. Whether your side hustle is solely for growing your emergency savings or only a percentage, do what you personally need to at that stage of life you are in. If you are certain there are potential life changes that could result in an unforeseen emergency expense, start saving quickly with a side hustle.  

Check out some side hustle recommendations this summer:   

  • Cater a holiday party with your favorite recipes or sweet treats  
  • Offer some spring cleaning  
  • Become a house or pet sitter for people traveling this summer   
  • Garden or assist with laying rock or mulch  

5. Sell Some Things You Aren’t Using

Jumpstart your emergency fund by doing some personal spring cleaning. There are many great options online for selling your things fast. You can always organize a garage sale. As you do your spring cleaning this year, ask yourself what you haven’t been using and what can go. You will be amazed how selling a few things can add a fantastic chunk to your emergency fund and clean out your closets.  

6. Contribute Each Month

Contributing to your emergency fund each month will become a habit when you get into the swing of doing it. Until you get your emergency fund to where it needs to be, do not slack on a monthly payment to that account. You never know how or when you will need these funds. Get prepared for a financial setback today, they do happen. Reach out to Peoples Bank & Trust to discuss how to start your emergency fund account!   

Peoples Bank & Trust Co. 

Member FDIC 

Equal Housing Lender 

summer vacation

How to Save When Booking Summer Vacation

Summer may be a few months away but planning to save now will ensure an awesome and affordable experience. The best tip for booking a vacation is to plan well in advance – start your planning process here by reading up on a few suggestions to make your summer vacation seamless and inexpensive!   

Book Flight Tickets in Advance

Planning in advance is the most important tip for a successful and budgeted vacation. Nail down where you are going and when. Purchasing airline tickets for travel well in advance can get you a better discount and a more desirable flight. Check flights regularly – specifically midweek throughout the day to catch a deal on airfare costs. Consider being flexible with departure and return dates, potentially even a connecting or redeye flight. 

Set a Budget and Detaled Itinerary

A big tip to saving on booking vacation relates back to the budget and itinerary you set for yourself. It is easy to spend extra here and there when you leave your days open to whatever they may bring. Once you’ve nailed down where you are vacationing to, start playing around with options to see what best will fill up your day and not your budget! Saving money when booking excursions or attractions will allow for extra spending money when you do schedule some downtime. It is also very important to know where you are staying and options for meals that may or may not be included. Schedule out your plans for mealtimes and consider buying some groceries once you get there to reduce eating out for every meal. Food is most definitely a huge part of the vacation experience, so be sure to give yourself some wiggle room to fully indulge at times.  

Road Trip to Savings

1. Take the Scenic Route

If flying is not the best option for you, consider taking the scenic route. Turn your sprint into a jog with a planned-out road trip. Road trips can save you a lot if you have a detailed travel plan to get to your destination. The best part about road trips is that you can enjoy your vacation sooner amongst the hidden gems along the way. Road trips have been said to allow you to live in the moment and be open to opportunities. You could very well plan out your stops in advance or pursue unique options as you go.   

2. Map Out a Plan

When mapping out your travel route, factor in the number of miles, number of stops and duration of stops. Doing this can give you an approximate time frame, as well as the cost of meals and potentially hotels/Airbnb’s along the way.   

Ideas to Consider:   

  • Consider utilizing a camper or RV to additionally cut back on sleeping costs.  
  • If you plan to make multiple stops, factor in the cost for the unforeseen attractions or extra meals you may indulge in.   
  • Driving yourself allows you the option to pack your own snacks for travel in comparison to utilizing an airline with the option of overpriced airport food.   

With many factors to consider when making your vacation a road trip, utilize this online calculator to play around with options to either fly or drive: https://www.befrugal.com/tools/fly-or-drive-calculator/   

Summer Vacation to Staycation

As nice as it is to travel quickly by plane, or enjoy the long drive on a road trip, sometimes you can have the most fun close to home. If your primary reasoning for a vacation is to get some well-deserved rest and relaxation, consider lessening your anxiety and rejuvenating at home. Minimize the pressure for preparation and say hello to peace and quiet! Consider the stresses a true vacation may bring to see if maybe it’s best to skip the trip this time.   

Here are some staycation day and night options to consider booking:  

  • Spa – facial, massage, manicure, pedicure options  
  • Farmers Market   
  • Museum   
  • Local Resort   
  • Winery or Brewery  
  • Golfing  
  • Movie Theatre   
  • Try a new restaurant   
  • Comedy Club  
  • Concert  
  • Sports and Games Club   

Save the money and the stress this year with these helpful tips for your next vacation. Ultimately deciding the details and what is worth the cost well in advance will ensure happiness for you emotionally and financially this season!   

Peoples Bank & Trust Co. 

Member FDIC 

Equal Housing Lender 

  

finance; savings goals

Tips to Reach Your Savings Goal

Do you have a savings goal you’ve been itching to reach? Here are some savings tips to speed up your process.   

1. Save Don’t Spend   

  • Spending Freeze  

Though it may sound easy to save and not spend, push yourself a little harder and try out a spending freeze. During a spending freeze, you set the duration of time where you do not spend on any outside purchases unless an emergency comes up. Make plans to stay in, cook at home and use what you have. It can be a hard thing to do, especially as things come up. Limiting spending for a couple of days or weeks can result in a good chunk of cash to add to your savings.  

  • Envelope Method  

The envelope method is a way to truly see what you are spending. The envelope method requires you to set aside money-filled envelopes for each category and use solely the cash to pay. When you take money out, you can see how much you have left to spend and when you are out. This trains you to see how much you are reaching for your money envelopes.   

2. Spring Clean Your Home   

  • Sell Some Belongings  

Sometimes selling a few things you are no longer using can add that extra amount you need to boost your savings. Maybe it’s time to sell some clothes, shoes, décor, appliances, electronics, etc. You can make it easy and post online or sell to your circle.   

  • Save On Utilities and Rent   

A roof over our heads can be a huge chunk of our spending. Consider living with a roommate if that works for you at the stage of life you are at. Cut your rent in half and bring in a roommate. If a roommate isn’t the best option for you, consider reducing your utility bill by using less energy.   

Some ideas to use less energy:  

  • Turn off fans when not in the room  
  • Run less laundry and dish loads  
  • Use less water – try out a dry shampoo instead of showering each day   
  • Schedule your thermostat to not run all the time  
  • Use natural lighting during the day  
  • Unplug items from outlets when you’re through using  

3. Do It Yourself Projects   

DIY projects are very budget friendly. To add some extra cash to your savings, consider doing DIY projects rather than buying things new. You also could find a DIY project you are good at and sell it for additional cash.   

4. Incorporate A Side Hustle   

Like the DIY projects to sell, that leads to incorporating a side hustle. A side hustle could be as much or as little as you make it. Here are some short-term side hustle ideas:  

  • Sell DIY projects  
  • Garden help  
  • Babysit  
  • Housesit   
  • Lawn maintenance  
  • Monetize your Amazon storefront  
  • Monetize your socials (ex. LIKETOKNOWIT)  
  • Promote products you love  
  • Edit for a freelancer   
  • Dog sit   
  • Bartend   
  • School pick up  
  • Farmhand   
  • Monetize a YouTube Channel, Instagram, Tik-Tok or Podcast   

5. Adjust Your Budget   

Finally, consider adjusting or reworking your budget and assess your finances. Do your research for ideas of how much you should be spending and how much you truly should be saving. Make sure that you have a deadline in place, so you know how frequently you need to cut spending here and there to meet goals.   

Do you have a savings goal you need to meet? The best answer is to make a change to your spending and start now. Contact Peoples Bank & Trust  to open a savings account today!  

Peoples Bank & Trust Co. 

Member FDIC 

Equal Housing Lender 

NMLS# 407724 

savings; savings in your 20s

Savings Hacks for Your 20s

How you start saving in your 20s is crucial, so do your future self a favor and start now. Here are some hacks to get smart about finances to share with someone you know in their twenties.  

What You Need to Know About Spending  

Your twenties are such a fun stage of life but can be very expensive if you are overspending. It is important to track how much you are spending on needs, expenses and fun. It is important to nail down how much you are spending on eating out, coffees and possibly even alcohol. Should you enjoy all those things, yes absolutely, but you need to account for the extras you are spending your money on, including social spending. 

Hacks to keep in mind to cut unnecessary spending:  

  • Make a grocery list 
  • Meal plan 
  • Eat before going out  
  • Set a certain amount for eating out, coffees, alcohol per month 
  • Budget for home accessories  
  • Budget for money spent on clothing 
  • Schedule plans with friends in advance 

What You Need to Know About Building Credit  

Do not let your twenties ruin your credit score. It is important to build your credit score young so you have a good score when you are looking to make a big purchase later on that maybe you’d need a loan for. Here are some ways to build a good credit score: 

  • Pay your bills on time  
  • Get a credit card for beginners 
  • Minimize how often you use your credit card 
  • Pay off your student loan debt  
  • Check your credit score  
  • Pay your credit card bill on time or possibly early if it’s in your best interest 

What You Need to Know About Student Loans  

College can cost a bit and eat away at your savings in your twenties. When you choose to take out a student loan, have a plan on how you will be paying that back. Here are some hacks to consider if you have a student loan to pay off:  

  • Pick up a part-time job throughout the school to save up to pay them off 
  • Consider asking your part- or full-time employer what they offer for student loan paybacks 
  • Live at home a little longer to add additional funds to your savings 
  • Apply for grants and scholarships throughout college 

What You Need to Know About Savings Goals  

The biggest hack in your 20s to building up savings is to make a budget and challenge yourself to follow it. Your twenties can be a rapidly changing period of your life, so the more frugal and budgeted you can be, the better you’ll feel financially as you age. Stick to what works for you and be realistic. Do not stay in all the time to save – you are allowed to have some fun! 

Reach out to Peoples Bank & Trust today to discuss how you can financially save in your twenties for your future self.  

Peoples Bank & Trust Co. 

Member FDIC 

Equal Housing Lender 

money; spring savings

Creative Ways to Save Money this Spring

Conduct A Closet Cleanout  

Spring is a time for cleaning, so why not address your closet? As the warmer weather comes, we are reaching for the sweaters less and less. It’s a great idea to do a deep dive into what you have in your closet so you can get rid of items you’ve not worn in ages as well as find some items you forgot you had. Decrease your urge to purchase new by organizing what you have in a way you can easily see all your options to pick from. You most definitely will come across old favorites you’ll be excited to wear, as well as maybe some items you forgot you purchased and still have the tag on. 

Once you decide what you’ll be keeping and what you’ll be getting rid of, sell some of your clothes. Spring is a great time to either have a garage sale or even sell online with Facebook Marketplace, Postmark, etc. Those old clothes can turn into some extra cash this spring.  

Gain A Green Thumb  

Fresh produce seems to taste the best in the warmer months, but the cost can really add up. Consider planting your own garden this spring to save a little extra. Not only is growing your own produce better for your wallet, but it is great for your health. Gardening can be a fun hobby for you and the kids. If you can devote some time to maintaining a garden, your stomach and budget will thank you.  

Having a garden gives you the freedom to plan your meals around what you have as well as incorporating fresh fruits and veggies into a majority of your meals. As your thumb gets greener, you could consider selling some produce locally as a side hustle. The cost of having your own garden can be very budget-friendly, but it also is a free hobby to enjoy and unwind with after a hard day of work.  

Better Your Budget  

If you want to save a little extra this spring, look through your budget and see what you can cut. Maybe you save a little extra and cancel the TV subscriptions as you will be spending more time outside or cancel the gym membership and get your exercise for free outdoors. Be in control of what you are spending your money on, spring is a great time to cut unnecessary spending so as fun stuff comes up this summer, you have the spare cash.  

The best part about the spring and summer months is that you can do free activities outside rather than going out and spending money on activities all the time. Rather than eating out, consider grilling or cooking outside. This is such a fun activity to do with friends too when planning your next night out. You could try out a spending freeze where you don’t spend for x number of days to save extra to either save for or cover an upcoming expense.  

Enhance Your Energy Efficiency  

One of the biggest ways you can save this spring is to be energy efficient. Cut the cost of some of your bills by using the nice weather to your advantage. Spring is the time of year you can shut off the heat and open the windows. As the weather heats up, be frugal when you’re turning your AC on. 

Keep your house cool by adding window treatments to reduce the amount of heat that gets in. Another way to be more energy efficient is to run your large appliances less. For example, consider only running full loads of dishes or laundry. One tip that many people forget is to shut your fans off when they are not being used. A fan running is not cooling your house, so when you’re done cooling off, shut it off.  

Spring clean your savings with these creative tips. Spring and summer seem to be busy months with a lot of fun stuff to go and do. Start saving a little extra here and there to add an extra chunk to your savings. Save this spring to set yourself up for a financially successful year. The more frugal you can be to cut some costs, the bigger the payoff you will see. 

Peoples Bank & Trust Co. 

Member FDIC 

Equal Housing Lender 

Traveling on the road

The Cheapest Ways to Travel 

It can be difficult when your goal for the year is to see more of the world, but you don’t have a huge budget to work with. Between flights, lodging and food, a quick weekend trip can turn into a trip that breaks the bank. Here are some ways to still experience the thrill of traveling while keeping the experiences relatively cheap:  

Go Camping  

There’s nothing quite as bonding as a fun family camping trip! Whether you have a camper, know someone with a camper, or want to go the old-fashioned route and pitch a tent, camping is a relatively cheap option.   

Book Your Flights Far in Advance  

The earlier you book your flights, the cheaper the rates usually are. Try to avoid planning last-minute trips since everything tends to cost more that way. Most airlines have flights available 11 months in advance which gives you lots of time to compare prices and book flights early. Keep your eye out for deals on flights to your desired location as well.  

Choose a Cheaper Airport  

Your local airport is close by and convenient, but smaller airports typically come with higher rates. It’s worth it to drive a couple of extra hours to make it to a bigger airport with more flight options as well as much lower rates.  

Go On a Cruise  

The great part about cruises is that you typically pay a single price that covers all expenses such as food, lodging and entertainment. Plus, you get to visit numerous locations all in one trip, making for a memorable and reasonably priced family vacation.  

Fly a Budget Airline  

Allegiant Air and Spirit are two examples of budget airlines that make flying a bit less expensive. The downfall of these airlines is the fact that things that are normally free with other airlines cost extra, such as carry-on luggage or seat assignments. Nevertheless, these budget airlines can save you hundreds of dollars and are a great financial choice.  

Airbnb Over Hotel  

Airbnb’s are located just about anywhere nowadays. Open the Airbnb app, enter the location and number of guests and you’ll be given lots of options. Not only is renting an Airbnb usually cheaper than a hotel, but they have a lot more character and feel more home-y.  

Now that you’ve read these helpful travel tips, it’s time to print your boarding pass and pack your bags! We hope your next adventure is fun, memorable and most importantly, budget friendly.   

  

Peoples Bank & Trust Co. 

Member FDIC 

Equal Housing Lender 

Student paying off loans

How Do I Pay Off Student Loans Quickly? 

Paying off student loans isn’t going to happen overnight – it takes time, and most importantly, discipline. There are some steps you can take to speed up the process and be debt-free sooner rather than later. If you’re in need of some advice on this subject, you’re in the right place.   

1. Pay MORE than the minimum.  

If you’ve only been paying the minimum, odds are you haven’t seen a whole lot of progress. Plus, the interest you’re piling up isn’t helping either. Instead of worrying about saving as much as you can, focus on putting a bigger chunk of your money towards your student loan debt to make the payoff process much faster.  

2. Put all promotions, tax refunds and bonuses towards your student loans.  

It may seem tempting to reward yourself when you get a promotion or a bonus, but take a step back before spending impulsively. Make the decision to put all your “extra” money towards paying off your student loans rather than spending it all.  

3. Pick up a side hustle.  

If you have some extra time on your hands before or after work or on the weekends, consider picking up a side job for extra cash. You could waitress on the weekends or evenings, start your own side business involving a hobby of yours or sign up to be an Instacart driver or DoorDasher.  

4. Re-evaluate your budget (and stick with it).  

Take a look at your current budget if you already have one and figure out what adjustments can be made. You’ll most likely have to make some sacrifices, but they’ll be worth it in the long run when you’re finally debt-free. Once you’ve adjusted your budget and left plenty of room for money to go towards your student loans, stay disciplined and make it a priority to stick with your budget.  

5. Don’t give up – stay motivated.  

Paying off student loans takes time and patience – you won’t see results in a week or month. The key is to stay positive and consistent in your payments and you’ll be debt-free before you know it.   

Today’s the day to make a change! Your future self will thank you for ridding yourself of debt as soon as possible. Peoples Bank & Trust believes in you and is here to help! 

Peoples Bank & Trust Co. 

Member FDIC 

Equal Housing Lender