Tag Archives: holidays

Organizing Your Finances for the Holiday Rush

 

The holidays are a time where we surround ourselves with family, friends and the people we love most. Whether you’re staying close to home or traveling across the country, the holiday season means you’ll be eating good food and spending plenty of time shopping.

And while all that food may mean your clothes fit a little tighter, the shopping can have a similar impact on your wallet. It’s important to make sure your finances are organized before the real holiday rush is upon us. Not only will you be better prepared, but you’ll be less stressed so you can enjoy the holidays with your loved ones.

Make your holiday season more enjoyable by using these tips from Peoples Bank & Trust.

Technology is your Friend

It’s easier than ever to use technology to organize your finances. Take advantage of online and mobile banking to get a real-time look at your account balances. Utilize the mobile deposit feature of your mobile banking app to deposit personal checks to your account so the funds are available sooner. There are also several financial management tools available online that will help you with setting a budget and establishing saving goals.

Set Alerts

You already know that your bills are due at different times throughout the month, but it’s important to remember that the holidays may cause changes in those due dates. Verify any upcoming due dates and make note of any changes from your regular monthly payment schedule. Utilize the bill pay features of your online banking account to make sure payments are scheduled well in advance, and set up alerts to make sure you’re reminded of your payment and to verify that the payment went through.

Hold On To Your Statements

This is important to remember throughout the year, but keeping all your statements organized is important. Something as simple as keeping separate manila folders for your savings and checking account statements, IRA statements, 401(k) records and other financial documents can go a long way and won’t cost you much.

Get Rid of High Interest Debt

It can seem easier to use your credit card when holiday shopping. To make sure you can use your credit during the holidays, make sure you’ve paid down anything you owe.

Organizing your finances before the holidays hit will make your holiday season more enjoyable so you can focus on the things that matter most. Contact People’s Bank & Trust to make sure your finances are set up for a happy holiday season.

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

 

Revamping These Holiday Traditions Could Save You Money

Seasonal

‘Tis the season of giving and, sometimes, that can mean the season of spending. This year make the holidays a fun and enjoyable event without all those last minute expenses. Our experts at Peoples Bank & Trust Co. recommend adjusting these common holiday traditions to help you and your family save money this season.

Adjust Your Menu

Instead of serving prime rib or rack of lamb, go with a more affordable cut of meat like spiral ham or roast turkey. These options still offer enough food for the whole family, and can cut your food costs by a good margin. In addition to choosing your proteins carefully, scanning local grocery ads can help you plan your meals while maximizing your savings.

Limit Your Gift Exchange

While the holiday festivities are a joy to be enjoyed by all, the annual family gift exchange can get expensive when presents are expected for each relative. This year make an agreement with your family to restrict individual presents to just the children. The adults can enjoy a secret Santa or white elephant exchange to reduce costs.

Set Realistic Expectations

While Santa may want to give every boy and girl all of the items on their wish list, there is only so much room in his sleigh! Sit down with your child before the big day, and speak with them about what is in store. It is important to let them know that not everything on their wish list may be under the tree, but you and your family will be there with them to enjoy it.

With these three tactics in mind, you and your family can work to save some additional money this holiday season. These funds can then be allocated to building emergency funds, contributing to your child’s education, or paying down credit card debt. No matter how you spend the season, Peoples Bank & Trust wishes you a happy one!

 

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender