5 Games That Will Help Your Kids Learn About Savings

Teaching your kids about saving money can be quite the undertaking. Luckily, there are games and fun ways to help your children engage with this learning process. Check out these 5 games that will help your kids learn more about saving.

1. Monopoly

Not only is Monopoly a fun family game, but it’s also a great game to teach kids about money. The game can get lengthy, but it teaches some valuable lessons. Not only do you learn how to save your money, but you also learn about making good purchasing decisions and investing. There are other fun versions of Monopoly that can cater to your child’s interests, such as Star Wars Monopoly, Pokémon Monopoly, Disney Monopoly and many more.

2. Online Games

There are countless online games made for the purpose of teaching kids about money. Simply search “money games for kids” in a Google search and you’ll find a bunch of options. You can find a game that fits your child’s age, interests and the topic that you want to teach them. Two examples of popular online money games include Change Maker, where the user practices counting money, and Financial Football for those big sports fans.

3. MySims

MySims is a popular video game where you become a character who is placed in a real world setting. Players have many roles in this game, like building new places and attracting residents to their town, but they also use a form of currency called Simoleons. As the player, you’re responsible for managing your Simoleons well and spending them wisely. This game teaches young kids the importance of saving and the consequences of impulse buying.

4. The Game of Life

Another very popular and common board game is The Game of Life. Players go through important stages of life, deciding things like if they want to go to college, what career path to take, when to buy a home and much more. Along with these decisions, players start with a certain amount of paper money and make purchasing decisions that affect the outcome of their role in the game.

5. Pretend Bank

Sometimes the simplest at-home games are the most fun for kids. Try creating fake money by cutting up paper or using money from board games you already have at home. Your kids can pretend to be the banker or the customer, either having to count and collect money or make decisions on how to spend it. There are lots of additions that can be made to this simple game, like making a fake grocery store of play food or a fake toy store. With these, kids are able to decide how much to buy, how often to buy it and decide if they really need it or not.

There are limitless options when it comes to games involving money. Teaching your kids these money saving skills while they’re young prepares them for the lifelong money choices they’ll make in the future! Open a savings account for your child when you feel they are ready for real money decisions.

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

How Much Does a Pet Really Cost?

If you or someone you know has a pet, you understand there are lots of factors that go into purchasing one. How do you know if getting a furry friend is the right decision for you? Keep reading to learn about the one-time pet costs you might not have thought about.

Initial Adoption Cost

The most obvious payment you’ll make when purchasing a pet is the cost of actually adopting one. What you’ll spend for adoption completely depends on the breed, size, gender and type of pet you go with as well as the place you get your pet from. Buying from a breeder can cost anywhere from $300 to $1,500. If you’re looking to save some money, consider adopting from a shelter as the average rescue pet costs only $70 to $300. The type of pet you are interested in completely changes the cost, so if you’re on a tight budget but you really want a pet, go with something more wallet-friendly at first like a fish or a hamster.

Food

You’ll start by purchasing one bag or container of food, but the money racks up over a year. For starters, an average big bag of dog food costs anywhere from $20 to $50 depending on the brand. Over the course of the year, though, the cost of food can reach $200 or $300 total. A fish, on the other hand, only eats a couple dollars’ worth of food per year.

Medical Costs

There are various forms of medical attention your pet will need, especially dogs and cats. They’ll need to go to the vet for vaccinations, which can cost anywhere from $50-$300. Secondly, to protect against heartworm, ticks and other things, you’ll spend about $50-$100 for prevention. Getting your pet spayed or neutered costs $50 to $300, and a microchip is about $50. Some pets don’t require much medical attention at all, such as a hermit crab.

Startup Items

The items to get your pet journey started could include things like toys, crates, leashes, a bed, tags, bowls, a collar, brushes, training pads and pet shampoo & conditioner. Just to give you an idea of some of these expenses, a dog bed or crate could cost $20 to $100 depending on the brand. No matter what kind of pet you get, you can’t escape the startup expense. Fish and crabs need a tank, hamsters need a crate, birds need a cage… the list goes on. Some startup items are definitely cheaper for some pets than others!

If you’ve been looking into getting a dog, be sure to consider all of the price factors that come along with owning one. If you have always wanted to own a pet but don’t have the money for the dog you’ve always dreamed of, the good news is that there are cheaper pets out there. Whatever you decide, do what’s best for your bank account and live within your means. Not sure if you’re financially ready for a pet? Contact us – we’d love to help!

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

Our Complete Guide to Saving Money

Saving money isn’t a one-step process – there are tons of tips and tricks out there to help. We’ve narrowed it down to some of the most practical but impactful changes you can make to maximize your money saving.

Plan Out Your Grocery Trips

Going to the grocery store without a plan can be a dangerous game to play, and most people spend way more than needed at those registers. Start by planning out your meals for the week and only purchasing what you need for those meals. You’ll be doing your wallet and your body a favor!

Cut Down on Those Subscriptions & Memberships

Netflix now has over 150 million people subscribed to their service, so this step most likely applies to almost everyone. Some subscriptions are fine to have, but there are many unnecessary and unused memberships out there. They might seem relatively cheap per month, but once you add up all of the subscriptions and all the months of use, you’d be surprised how much money you could have saved without them.

Set Up Automated Savings

If you haven’t set up your bank account to automatically transfer money to your savings yet, it’s time to start. It might be weird and frustrating at first, but soon enough you won’t even notice the money you’re missing, and your future self will thank you!

Sell What You Don’t Need

Go through everything you own and sell the things you don’t need anymore. The random items you have laying around can add up, and odds are you won’t even notice that they’re gone. This is a great way to invest in your emergency fund, too!

Skip the Restaurants & Coffee Shops

You’d be surprised how much of a difference preparing things at home instead of going out can make. For example, most people spend around $2-$5 at a coffee shop, while making coffee at home only costs about 16 cents per cup. Start skipping overpriced food and drinks and start making some homemade goods!

Save Some Energy

Not only is saving energy good for the environment, but it’s great for someone looking to save money, too. Your electric bill can make a big difference in how much you pay per month. Take a few practical energy-saving steps, like taking shorter showers and shutting off unused lights, to see a big drop in your bill.

Taking some practical and simple steps towards saving money will produce big results. There’s no better time to start saving than now, so open a savings account with us and give these tips a try!

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

Online Safety Tips for Retirees

Online safety is a much bigger problem than most people realize. It’s estimated that seniors lose a total of about $30 billion every year because of online scams. We want to prevent that from happening, and we bet you do, too. We’ve put together some of the easiest ways for seniors to be safe online.

Be careful when making online purchases. Hackers and scammers can make their websites look pretty realistic and trustworthy on the outside. Here are some ways to know when not to enter your personal information.

Look for reviews if buying a product.
Make sure the website is secure.
If possible, only shop on websites you or others have used in the past.

Keep tabs on all of your accounts. Be sure not to let your accounts, on social media or elsewhere, go left unvisited for too long. The following points will help you know how to keep your personal accounts protected.

Use strong and secure passwords, as well as different passwords for each account.
Give a trusted family member or friend access to your accounts in case of emergency.

Think about what you’re posting. Just because your account is private doesn’t mean everything you post in there is safe from the world’s eyes. There are still ways for hackers to access your account or for others to copy and share your posts.

Don’t post pictures or information you wouldn’t want the public to know about.
If you need to share important but private information, consider doing so in person or over a phone call if possible.

Don’t trust all emails and messages. Although many email providers have an automatic spam filter, some make it to your inbox. When it comes to social media, messages from strangers can be dangerous.

Ignore the “You’re a winner!” or “Free prize!” messages.
Verify with friends before sending any money in case their account was hacked.
Don’t trust direct messages unless you can verify who the person is and why they’d be reaching out to you.

Be careful what you choose to download. Hackers will often create free downloadable documents that are actually viruses. Here are some steps to make sure your device doesn’t get hacked.

Know and trust your source before downloading anything.
Have a protective security software installed on your device.
Verify with a professional that it’s a trusted source.

Technology is a wonderful thing, but it definitely comes with dangers. Be sure to follow these practical online safety tips and continue protecting your personal information!

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

Renovate Your Home Without Breaking the Budget

Are you ready to mix things up in the design of your home, but not ready to burn through your precious money to do so? We know some tips and tricks that will allow you to revamp the look of your home without going overboard on price. Keep reading to find out how!

Improve the Lighting

The lights in a room can drastically affect a room’s tone. Swapping out those harsh, flickering lights for softer, warmer lights will give your room a more comforting feel. Another lighting trick is to hang mirrors in rooms that need to be brightened up. Mirrors make a room look bigger and increase the light throughout the room.

Removable Wallpaper

Although wallpaper might’ve had a bad reputation in the past, the new, improved and modern versions of removable wallpaper make changing your space affordable and simple. The best part is that it goes on easily and comes off with no damage to the walls, allowing you to change up a room at the snap of your fingers.

New Cabinet Handles or Faucets

Updating the handles on your cabinets or the faucet of your sink can make a world of a difference. New and modern handles have the ability to completely change the look of your kitchen or bathroom, and they aren’t a big investment. Replacing your old kitchen faucet with a sleek, contemporary one can give your kitchen a whole new look.

Rearrange, Don’t Repurchase

You don’t have to buy all new furniture in order to make your living space more attractive. Search the Internet for furniture setups that fit your room, and try rearranging your furniture to match. Sometimes something as simple as changing an item’s location could improve the look of a room.

Paint the Front Door

Upgrade the outside of your home by putting some primer and a few coats of exterior paint on your front door. You could choose a bold color that would catch a passerby’s eye, like red, or go for a modern look like black. It’s also a simple fix to add a door knocker or update the handle. Research suggests that updating your front door can increase a home’s value as much as $8,000!

We hope these money-saving renovation tips will allow you to give your house an upgrade without burning through your wallet. More questions about renovation on a budget? Give us a call and we’d be happy to help.

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

Why You Should Bank Local

You’ve heard big banks advertise their services all over the world, but most consumers don’t realize all of the benefits that come with banking local. When it comes to customer service, banking fees and ethical choices, banking local is the smart choice, and we’ll tell you why.

Great Customer Service

Because local banks have less customers than your average megabank, the employees have the chance to form deeper relationships with the people they serve.

Tailored Programs

Community banks have the ability to create unique and personal programs for their customers based on their needs. Big banks suggest they have more choices and services, but most local banks offer those exact services, too.

Ethical Standards

Because of the direct effect the employees’ behavior has on the community, local banks hold their employees to a very high standard. Local banks understand the policies of where they work, and they also invest in other small, local businesses.

Lower Fees

Fees, like the ones at ATMs, are becoming more common among megabanks and the prices are rising as time goes on. Research shows that local banks offer more free accounts to their customers as well as charge fewer fees compared to big banks.

Convenience

Megabanks, just like any big business, have lots of customers to help. You might find yourself with a question or concern but end up waiting on hold for hours. Local banks are dedicated to providing their customers with convenience and satisfaction.

Involvement in the Community

When it comes to giving back and charity involvement, local banks are there. Customers feel a sense of satisfaction knowing the business they support gives back and cares about others. Community banks love supporting charity events like races or fundraisers, which is why their logos are commonly advertised throughout the community.

These often-unknown benefits of banking local are important for consumers to hear about. Community banks want what’s best for YOU. Contact Peoples Bank & Trust with any questions, and take a step in the right direction by banking local today!

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

Spring Cleaning Your Budget 101

Maybe you’ve started a budget but have found it complicated, time-consuming and not worth it. In the spirit of springtime, consider cleaning up your budget and starting fresh. A new season means a new and improved budget!

Find A Purpose

What’s the reason you started a budget? Maybe you are saving for your wedding, or possibly wanting to reduce your debt. Whatever the purpose is, make it clear and remind yourself of the reason you started. This will give you motivation to continue sticking to your budget!

Establish Your Priorities

What’s your main finance priority right now? Two of the most important concerns should usually be building an emergency fund and repaying debt. Keep these things in mind and be sure to incorporate them into your budget.

Write Everything Down

Sometimes the best way to clearly see the problems in your budget and spending is to put everything on paper. One idea is to keep a pen-and-paper list of every single thing you spend for an entire month. Look over the list at the end of the month, and you’d be surprised at the changes you could make to your budget.

Learn From Your Past

If you’ve tried budgeting before, you probably know a little about what works for you and what doesn’t. For example, let’s say you went way over budget in the month of December because of Christmas. Try adjusting your budget in other months to give yourself more leeway in December. Take what you’ve learned into account and make alterations to your budget based on them.

Plan For The Unexpected

Maybe in the past you stuck to your budget, but out of nowhere, something threw a wrench in your plans. You could lose your job, have car problems, need maintenance on your house… the list goes on. This is where your emergency fund comes in; having a backup plan relieves a lot of stress!

Be Proud of Your Progress

Whether you’ve saved thousands of dollars already or just recently decided to start budgeting, you’ve made important progress. Take a moment to gain motivation by looking at how far you’ve come!

Budgeting can seem scary and complicated at first, but sometimes you just need to take a step back and plan your next steps. This spring is the perfect time to start fresh with your budget! Open up an account with us to store your savings this year.

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

7 Personal Cybersecurity Tips

As time goes on and technology expands, people are becoming more and more prone to cybercriminal attacks. By following some basic tips, you could avoid a multitude of problems in the future!

1. Use Strong and Varying Passwords

This is probably the most obvious and common cybersecurity tip known to web users. Don’t underestimate the importance of your password strength! Change your password every once in a while to be safe (recommended at least once a year). Also, don’t use the same password for more than one account.

2. Be Careful With Your Personal Info

Personal information, like your address, birthday or phone number, should be posted carefully. The smartest option would just be to keep as much of that information off of your social media as possible. These personal details are used by cybercriminals to locate individuals. Better safe than sorry!

3. Recognize and Stay Away From Phishing

Phishing is when someone poses as someone they aren’t to trick people into giving them information, clicking on a dangerous link, etc. This is the most common way ransomware attacks originate. Be suspicious about the emails and messages you receive and don’t open messages from people you don’t know.

4. Utilize Two-Factor Identification

Many social media sites have two-factor identification options and most users don’t take advantage of this helpful security option. Two-factor identification prompts you to not only enter your username and password, but also another personal identification code.

5. Update Your Software

Keeping your device’s software updated might not seem like a safety-related tip, but both businesses and consumers have suffered from hackers due to not updating. Try turning on the automatic updates offered on your device.

6. Say No to Public Wi-Fi

Using public Wi-Fi if it’s available seems like a no-brainer. What most people don’t realize is how much easier it is for cybercriminals to access your accounts and devices when you’re connected to a public Wi-Fi network. Consider using a Virtual Private Network (VPN) to protect your device while using public W-Fi.

7. Install Trusted Apps Only

Not all applications are safe, and not all of them can be trusted. Check reviews and ratings before installing anything you’re unfamiliar with!

Don’t let yourself fall into the statistics of those dealing with cybercriminals! Protect your devices, accounts and personal information by following these tips and always being cautious online.

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

Homeowner Costs People Forget About

Are you thinking about taking the big step of becoming a homeowner? Purchasing your first house is a significant and exciting change, but it can be easy to get caught up in the excitement and forget about certain costs. If you want to make sure you have all of your financial bases covered before owning a house, keep reading!

Lawn Upkeep

The cost of maintaining a lawn is one people often underestimate. Whether you hire someone to keep your lawn looking fresh or decide to do it yourself, it will cost some money. Besides needing a lawn mower for cutting your grass, keep in mind things like pest control, weed killer, fertilizer and landscape. Some other equipment needed in lawn upkeep includes a hose, sprinkler, rake, weed wacker, trimmers and much more.

Keeping it Clean

Keeping a house clean is much more challenging and costly than cleaning a small apartment. Many families not only add onto their collection of cleaning supplies, but usually double almost all of the supplies they own. It may sound unnecessary, but once you have to start making trips up and down stairs to clean different levels of the house, you might want to double your supplies, too.

Property Taxes

One of the biggest payment differences between paying rent for an apartment and paying a house mortgage is property tax. It’s important to figure this out beforehand and add it to your estimated monthly payment so you know what to expect. To get a general idea of how much you’d be spending in property taxes, use an online property tax estimator.

Immediate Renovations

After buying a house, it’s normal to want to turn that house into a home. Homeowners are constantly looking for things to improve, like redoing the kitchen cabinets, fixing the deck, changing the wall colors, finding a new floor you love… the list goes on. Keep in mind when house hunting what you’d want to change about the houses you look at and add this to the list when considering your expenses.

Time

This one seems obvious, and although this particular cost won’t be coming out of your pocket, it’s a very important component to consider. Owning a house means doing everything yourself – something you didn’t always have to do while living in an apartment. Keeping up with maintenance, dealing with pest control and tending to the lawn are some of the many time-consuming things that come with being a homeowner.

Now that you’ve considered some of the unexpected costs of owning a house, you’re able to make a more informed decision on if taking this step is the right choice for you right now. We offer mortgages that will help your homeowner journey become a little smoother.

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

5 Things to Teach Your Kids About Money

Parenting isn’t easy, and we are here to help you in whatever ways we can. Keep reading to learn about these 5 simple and important things to teach your kids about money!

1. The Importance of Saving

The easiest way to encourage your kids to save money is by getting them a piggy bank. Some kids are fascinated by the piggy banks that automatically count your change, and other kids would enjoy a lovely glass pig to keep their money in. Go to the store and let them pick out a piggy bank they love, and they’ll soon find that keeping their money inside is enjoyable. Encouraging them to put their earnings in their piggy bank will teach them the importance of saving money early on.

2. How to Make Money

Implementing chores as a regular thing is a great way to teach them about earning their money. Start simple and give them a small allowance when they help out with some household tasks. Giving your kids an allowance without having them work for it is giving them the wrong idea about money. Chores are a perfect way to get your housework done quicker, and you’re teaching your kids a valuable lesson while you’re at it!

3. The Danger of Impulse Buying

Kids tend to be very impulsive and often have a hard time thinking through their decisions before making them. Teach them about the danger of impulse buying by not giving them everything they ask for right away. For example, if they see a toy in the store that they’re interested in and immediately ask for, don’t give in. Start saying “no” and explaining why it’s not a smart purchase. Kids learn by observing, so make sure you’re controlling your own impulse buying so they are observing good spending habits.

4. How to Budget

If your middle school or high school child has a part-time job, odds are they don’t have a whole lot to provide for quite yet. Teach them the importance of budgeting while they’re still living under your roof so when they move out, they’ll already know how. There are lots of helpful budgeting apps or plans online to get them started on.

5. Giving Back

Giving back is an important part of being an active community member, and also teaches kids other great qualities like being selfless and considerate. Let them choose a charity, organization or church they are interested in and teach them the importance of giving.

If we all do our part to teach our children about money, we’ll be bettering the next generation. Open a savings account for your child with us!

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

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