Tag Archives: personal savings

Effective Old School Savings Tips

savings

It’s not surprising to hear that your grandparents and parents were frugal when it comes to money. However, that leads us to ask, “How did they get so good at saving?” We’ve gone and found some of the best old school savings methods that are still guaranteed to help you with your funds. Enjoy!

Patience Is Your Pal

Nowadays, it seems like everyone spends money right away on things they may not need. Taking a few days to think about what you want to buy is a great way to build your patience and cut down on impulse buying. Impulse buying can add up to $5,400 a year by just making a couple unplanned purchases each week. They may seem small, but if you don’t stick to your list, those purchases can add up quickly!

Limit Credit Cards

Yes, 25% off on your purchase makes for a great shopping day, but that store credit card only adds to your amount of bills to pay in the future. Work on limiting your credit cards and focusing on paying off your debt and bills for the ones you have left. This will help you begin to be the savvy saver you know you are. A couple credit cards are good to have, as they help you with needed purchases and building credit – just be sure to not go overboard!

Get a Money Saving Hobby

In the good ol’ days, there weren’t cell phones and video games to entertain us. Your grandparents had to find other ways to entertain themselves. These involved hobbies to help pass time. A good hobby to get into is one where it doesn’t cost you money, or will save you money down the road. Try canning food, as this will give you food for the winter when the price of fruit goes up or certain items are no longer on the shelves. You can also learn to sew – that way, your clothes are still functional and you don’t have to buy new ones every time there is a tear.

Cook At Home

Dining out takes a hefty amount from your account. Cooking from scratch is a great way to prepare multiple meals for a family while on a budget. Make a casserole or utilize that crock pot. Not only will dinner be ready, but you’ll have lots of leftovers to bring to work for lunch the next day or two. According to CNBC’s Jonathan Blumberg, if you go out to eat every workday and spend, on average, $10 per meal, it comes out to $2,500 a year. This is why utilizing your cooking skills can help you go a long way financially.

These old ways of saving are a few of the best to stay on track financially. If you’re looking to find better ways to save and take care of your funds, we are happy to help! Give us a call or stop in today, so we can help you succeed financially.

 

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

4 Steps to Safeguard Your Security

Cyber Security

Who knew four little steps could be the difference between keeping your information secure and falling victim to cyber predators. With today’s current cybercrime tactics, you can never be too careful! At Peoples Bank & Trust we want to help ensure you and your finances stay safe, and offer these four strategic steps to boost your personal cyber security.

  1. Safeguard your passwords. Instead of desktop post-it notes, store your passwords somewhere secure like the LastPass app. Not only will apps like this one help you remember which password to use for what, but because they’re all stored in one place, you can continue to make your passwords more complicated to create an added layer of protection.
  2. Do NOT use public wifi when possible. While hot spot coffee shops may offer high-speed wifi to customers, never sign on until you have confirmation from a store employee that the business is genuinely offering the service. Many cyber criminals will prey on locations such as these to gain access to both your devices and your information. We suggest waiting until you’re on your own dedicated wifi to access secure information such as your bank account or credit card portal.
  3. Never give out your personal information. Cyber criminals are getting cleverer each and every year. With many phishing schemes now incorporating the names of your family or distant relatives, these complicated schemes can make it seem essential to share your banking or credit card information. No matter what the occasion or reason, NEVER give out your personal financial information out over the phone or online. Always contact the representative you know, or call the business’s official number to authenticate the request before acting on it.
  4. When purchasing online, always choose credit over debit. Thankfully credit card providers such as VISA and MasterCard offer zero percent fraud liability for their customers. For this reason, it is far safer to make purchases online via your credit card compared to your debit card. While your debit card can certainly be used online, should it become compromised, you could be out of those stolen funds until the proper insurance or reports are filed.

There are always new ways to be proactive when it comes to your personal security. If you have further questions on how to keep your financial information secure, our team is here to help! Give us a call or stop by your nearest Peoples Bank & Trust location to speak with one of our customer service representatives today.

 

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender