Inexpensive Christmas

Your Guide to an Inexpensive Christmas

The holidays are quickly approaching, which means it’s time for the fun yet expensive process of Christmas shopping. By incorporating some of these habits and ideas into your holiday traditions, you can make this Christmas and the ones to come much more affordable than normal.

Have a Family Potluck

Some people enjoy hosting a big family dinner each year. But making dinner for 20+ people can get pricey very quickly. It may also be a tradition to go out to eat each holiday season, and it’s usually hosted at a nicer restaurant. If you want to cut costs this year, consider hosting a potluck instead and ask each guest to bring their favorite holiday dish.

Tell Your Kids There’s a Gift Limit

It’s natural to want to spoil your adorable kids with presents around the holidays, but that can get out of hand quickly. Warn your kids that there will only be “x” number of gifts this year to make sure they’re prepared and aren’t expecting anything crazy. If you don’t have kids yet, having a spending limit for gifts is a great habit to start as soon as possible.

Choose Thoughtfulness Over Price

Value can be measured in different ways, so don’t think that spending more means the gift is more valuable. Some cheap and thoughtful gifts for people like teachers, neighbors or co‐workers include a heartfelt letter, sweet treats or any kind of homemade gift.

Try the White Elephant Gift Exchange

Buying gifts for everyone in the family adds up fast, especially if it includes extended family or you have a big family to begin with. Everyone buys one gift, but nobody knows who they’re receiving a gift from, which saves hundreds of dollars and makes for some family fun.

Start Shopping Early

Many people are stressed over the holidays because they’re spending a lot of money at one time. Make it easier on your bank account by spreading out the purchases. You don’t have to actively go shopping months in advance but keep your eye out for deals or gifts people mention long before Christmas. Sales happen all the time so don’t buy full‐priced if you don’t have to!

Don’t Overdo the Decorations

As tempting as it is to deck your house out with the trendiest and nicest Christmas décor, set a budget for that, too. Celebrate the holidays with the essentials like lights, a tree and some holiday candles, but keep it simple if you’re looking to save money.

Now that you’re aware of how to have a cheaper holiday season, put the extra money you saved into a savings account. We’re here to help and answer any questions you may have about our financial services.

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

House

How-To: Staging Your House to Sell

If you’re preparing to sell your home, you’re in the right place. We’re here to provide you with 8 helpful house staging tips so you can make the most of your space and grab the attention of prospective buyers.

1. Focus on the curb appeal.

Curb appeal is huge when it comes to first impressions. Some good and relatively cheap ways to make the outside of your home more attractive are to repaint the front door, lay fresh mulch, add more greenery, get a new welcome mat or make your porch presentable by adding some outdoor furniture.

2. Make sure your house smells its best.

You might not have considered the importance of how your house smells, but it can have an immediate effect on the way the buyers feel and think. Making sure your house is full of pleasant aromas gives a good first impression. This can be done by using a diffuser, candles, fragrant flowers, plug‐in air fresheners and more.

3. Don’t overdo the furniture.

Get rid of clutter to make your rooms look bigger and more spacious. When potential buyers are walking around the house, they’ll want plenty of space to check it out without running into things, so avoid crowding the space. Next, rethink the placement of your furniture. All spaces are different so there isn’t a universal rule but be sure to place the furniture in a way that creates good traffic flow but still makes the room feel cozy.

4. Add some upgrades to your kitchen.

The kitchen is usually the make‐or‐break space for buyers, so if you’re going to update anything in your home, the kitchen is the best place to start. Clear clutter off the countertops, consider updating your backsplash, repaint the cabinets or replace the sink. All these things can make a big positive difference to the overall look of your kitchen.

5. Un-personalize your home.

Now’s a good time to remove those personal items like family photos, collectibles or your kid’s artwork. Replace them with generic decorations that will allow potential buyers to picture themselves in your home.

6. Lighten and brighten each room.

Now is a good time to improve the lighting in your home. You want your space to look welcoming, so don’t just depend on one lightbulb to light the entire room. Add accent lamps and replace the bulbs for a brighter, warmer feel.

7. Clean the bathroom, then clean it again.

The best way to turn potential buyers away is to have an unappealing bathroom. This means you should deep clean it, de‐clutter the counterspace, display new towels, add a candle and some cute counter décor and you’re good to go.

If your next step is to apply for a home loan, our mortgage experts are here to help. Contact us to learn more and good luck staging and selling your home!

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

NMLS #407724

cybersecurity

Cybersecurity Advice for Retirees

It’s been proven that senior citizens are a much easier target for hackers because older folks didn’t grow up in the current world of technology. Whether you’re a senior looking for some advice or you have an older loved one who you want to look out for, these cybersecurity tips are important for everyone to remember.

Don’t Overshare Information

Social media is a great way to stay connected to family and friends, especially if they don’t live nearby. Keep in mind that what you post online is public for the world to see, so just call or text someone directly if you’re sharing personal
information.

Be Careful Online Shopping

If you’re online shopping and a retailer asks for unnecessary information, be cautious. Keep in mind that no online store will ever ask for your social security number. Also, it’s not a great idea to buy from an unfamiliar retailer, so do your research beforehand and check reviews to make sure the seller is legit.

Use Strong Passwords

As nice as it is to have an easy‐to‐remember password, it also makes it much easier for someone to hack your account. If remembering multiple strong passwords gets difficult, you can use a password manager. Make sure your password:

  • Doesn’t include personal information
  • Includes numbers, special characters, upper and lowercase letters
  • Isn’t too short

Beware of Public Wi-Fi

Using free public Wi‐Fi is convenient but can be a bit dangerous depending on what you’re doing. The public airwaves
allow hackers to potentially intercept the data you’re sending online. This can include intercepting data such as your
credit card info, name and address, so play it safe and use your home Wi‐Fi network for things like that.

Be Cautious with Emails

Spam emails are usually easy to point out, but phishing is where it gets tricky. If you receive an email from an unknown
sender, don’t click on any links or reply without verifying who it is and whether they’re a trusted sender.

Ask for Help

If you have a family member or friend who is tech‐savvy, don’t be afraid to reach out to them for help if you’re unsure of something. When it comes to technology and cybersecurity, it’s better to be safe than sorry.

For all your financial needs, Peoples Bank & Trust ready and willing to assist you. Visit our website to learn more and
contact us with any questions!

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

Money Mistakes to Avoid

Money Mistakes to Avoid in Your 30s

Now that you’re out of your 20s and you’ve most likely been working for a few years, you may have come up with some new financial goals for the decade. Maybe you’re still hanging onto some bad money management habits that developed in your 20s and you’re ready for a fresh start. Keep reading to learn what to avoid in this new stage of life.

Avoiding the Thought of Retirement

It may seem like retirement is still lifetimes away, but it’s extremely important to invest in your future. Participate in your 401(k) plan at work and open an IRA if you haven’t already. If you are struggling to save for retirement, aren’t sure where to start or don’t know how much to save, speak to a financial advisor for some assistance.

Bad Credit Card Habits

Getting out of the credit card trap can be quite a struggle, especially if you’ve been in it for years. Credit cards are a good thing if you use them wisely but using them to pay for something you can’t afford will only do damage. If you have credit card debt, make it a priority this year to pay it off.

Buying Things You Can’t Afford

It’s not uncommon for those in their 30s to start purchasing the items that they’ve wanted since they were in their 20s. Since 30‐year‐olds usually have more money than they did in their 20s, it can be tempting to spend more than necessary, especially on big purchases such as:

  • House
  • New car
  • Expensive meals
  • Wardrobe

Make sure you’re still living within your means, and you also continue to save your hard‐earned money for the future.

Living an Expensive Lifestyle

You are who you surround yourself with, and if the people you hang out with are big spenders, it can be dangerous. Social events can quickly turn into money pits if you’re with people who like to go big. There’s nothing wrong with having friends who spend lots of money, but just be aware of how they’re influencing and affecting you financially.

Don’t let your 30s be another decade of financial lessons learned the hard way. Break free from the bad habits of your 20s and enter the next decade with financial freedom – Peoples Bank & Trust believes in you!

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

Christmas-gifts

Wallet-Friendly Christmas Gift Ideas

You want to give your friends and family something special for the holidays, but you don’t have hundreds of dollars to spend. Don’t worry because there are still lots of thoughtful gifts that won’t hurt your wallet. Plus, these are all practical gifts that your loved ones will get lots of use out of!

1. Self‐care products: Throw a cute stocking together including holiday‐themed facemasks, lotion, lip balm, a candle and whatever else you think they may like.

2. Jewelry: A necklace or a cute pair of earrings doesn’t have to be expensive. Look in places like Target to find affordable yet stylish jewelry.

3. Board games: This is a great gift for any age since there are games made for both kids and adults. If you’re participating in a white elephant gift exchange, consider buying a fun game that everyone in the group can play together.

4. Grooming kit: If the man you are gift‐hunting for has a beard, a grooming kit is a great option so they can stay fresh and maintain their look.

5. Coffee essentials: This one is for all your coffee‐loving friends out there. Get a cute coffee mug along with their favorite coffee grounds, creamer or syrup, or throw in a gift card to their favorite coffee shop.

6. A book involving something they’re passionate about: There’s a book out there for just about anyone, so find something you think they’d enjoy reading.

7. Subscription: Spread out the spending by paying for a monthly subscription to a streaming service they’re interested in. You can limit this as much as you’d like, too. For example, tell them you’re giving them a one‐year Netflix subscription.

8. Framed poster: You can find both frames and posters for cheap, and this is a great idea for someone who needs some extra home décor. If it’s for a significant other, you can make it meaningful by framing a map pinpointing where you first met.

9. Kitchen supplies: If you have a friend who loves to cook or even someone who just moved in and could use necessities, kitchen supplies are a great idea! A rolling pin, whisk, measuring cups, serving utensils, mixing bowls,
cutting boards and so on would be perfect gifts.

10. Plants: Who doesn’t love a cute succulent for their desk or nightstand? If they’re not big into caring for plants, you can always opt for fake ones to spruce up their home décor.

11. New wallet: If you’re shopping for a guy in your life, having a nice, leather wallet is always a staple.

12. Bottle of wine: Pair someone’s favorite bottle of wine with a cute wine glass and you have yourself a classy and thoughtful gift.

13. Homemade holiday treats: You can’t go wrong with gifting sweets. Bringing your loved one their favorite holiday‐themed treats is guaranteed to make just about anyone’s day.

We hope you find some reasonably priced gifts for your friends and family, but most importantly, spend quality time with the people you love. Happy holidays!

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

car

Big Life Purchases You’ll Need to Save For

No matter what stage of life you’re at, there are big purchases on the horizon that are important to prepare for. The key to these not becoming big stressors is to start saving as soon as possible so you’re prepared when the time comes. Here are seven big life purchases you should start preparing and saving for today:

Tuition (Yours And/or Your Child’s)

Depending on your situation, you may be paying for your own tuition which means there will be some debt to pay off. If you’re still in high school, the time to start saving for college is now! You also might decide to pay for your child’s tuition. If that’s the case, it’s important to prepare for that as early as possible, too.

New Car

Whether you’re saving up for your first car or you already own one and are ready for an upgrade, a new vehicle can be a big expense. Many financial advisors recommend buying a used car and paying for it in full using cash to avoid interest rates. This means being patient and saving for a few years, so you don’t have to worry about making the monthly payments.

Wedding (Yours And/or Your Child’s)

Another big expense is you and/or your child’s wedding, depending on what you and your family decide. The average cost of a wedding in 2021 was $22,500 but this also depends on the size of your wedding, the venue and lots of other factors. If an expensive wedding isn’t in your budget, consider downsizing and sticking to just close friends and family.

Your First House

One of the more obvious big purchases comes when you finally buy your first house. It’s important that you do plenty of research before deciding on your first home to make sure you’re making a smart financial decision.

Furnishing Your Home

The payments don’t stop once you close on the new house. Now you must furnish and decorate the house to make it feel like a home. Consider buying used furniture and hand‐me‐downs so you can work on building your savings back up, then buying some new furniture that you love.

Growing a Family

Starting with the hospital bill when they’re born until the day they leave for college, there are constant expenses that come with having children. Once you decide you’re ready for your family to grow, it becomes more important than ever to save, save and save some more.

Contributions to Your Retirement Fund

It may seem ages away, but retirement will sneak up on you faster than you may think. The sooner you can start contributing to your retirement fund, the better, so it’s never too early to start. Contact us to learn more about retirement funds and how to start one.

All these purchases may seem overwhelming, but don’t stress yourself out too much. These costs are spread throughout many years of life, so if you start saving and make good financial decisions, you’ll be good to go. Peoples Bank & Trust is here to help you if you have any questions, so feel free to contact us!

Peoples Bank & Trust Co.
Member FDIC
Equal Housing Lender
NMLS #407724

painting

Cheap Home Improvement Projects

Ready to upgrade your home in a wallet‐friendly way? We’re here to give you lots of ideas for your next project. Rather than explaining each idea in detail, we’re going to list out 12 projects that you can take and make your own. Let’s get started!

1. Add a fresh coat of paint.

One of the simplest and cheapest ways to upgrade a room in your home is to pick a nice paint color for the walls. This can brighten and modernize your space in less than 24 hours.

2. Replace your cabinet and dresser hardware.

You’d be surprised at how much of a difference it makes to simply replace your outdated hardware for a more modern look!

3. Hang string lights on your patio or porch.

There’s nothing quite as warm and comforting as sitting under some beautiful outdoor string lights.

4. Repaint your kitchen cabinets.

If you have outdated kitchen cabinets, you might not have to completely replace them. Instead, paint them a lighter, neutral color or simply fix up the paint job that’s already done if you like the color.

5. Get a new shower curtain.

Swapping out your old shower curtain for a new and improved one is one of the cheapest ways to change the look of your bathroom.

6. Add an accent wall.

Have a room that’s a little boring? Paint one wall a bolder or darker color to make it stand out.

7. Get rid of the popcorn ceilings.

Out with the old and in with the new! Click here to learn how you can get rid of your popcorn ceiling on your own at home.

8. Paint the front door.

Upgrade your curb appeal by painting your front door to make a better first impression.

9. Replace your ceiling fans.

You can either get new fans altogether or save money by simply repainting the fans you already have to make them more modern.

10. DIY some wood shelving.

Give your kitchen the popular look of open shelving by building wood shelves for the walls.

11. Upgrade the house numbers on your front door.

This small change can make a big difference on your home’s curb appeal. Replace the old numbers with larger, modern numbers to match the look of your house.

12. Add some greenery.

One of the best ways to improve the look of your house is to add plants, real or fake, in the rooms that need a little life.

When it’s time to complete the bigger home improvement projects that might be a little pricey, Peoples Bank & Trust has the personal loan to help you get it done. Contact us or visit our website to learn more!

Peoples Bank & Trust Co.
Member FDIC
Equal Housing Lender
NMLS #407724

piggy bank

How Do I Raise Money-Smart Kids?

Whether you already have kids or are just preparing for the future, navigating the world of parenting may seem overwhelming. Don’t stress too much, as parenting is often a “learn from experience” kind of process. But, as a primary role model in your child’s life, it’s important to have important conversations early on so you can prepare them for life on their own.

Be a Positive Example

Don’t overlook this step because it’s one of the most important! Kids learn by example, especially the example of adults they spend a lot of time around. You can have a positive effect on your child’s financial future simply by managing your own money well. This means creating a budget and sticking to it, avoiding impulse purchases, saying “no” to their requests sometimes and providing a safe space for them to talk about money with you.

Have Financial Conversations Early

As previously mentioned, having conversations about money is crucial for your kids to take finances seriously. Be open about financial lessons you’ve learned at their age, check in to see how they’re doing financially and be someone they can lean on for guidance.

Let Them Make Purchases, Too

This is something you can even incorporate into the lives of your youngest kiddos. While your younger children might not have money of their own quite yet, you can still give them the money you’re paying with and let them make the transaction. For example, if you’re at a store and they’re being rewarded with a new toy, give them some cash and let them hand it to the cashier. This teaches them from a young age that new things come with a cost.

Help Them Open a Savings Account

When they’re younger, a piggy bank works just fine for saving purposes. Once they reach the age where
they have a part‐time job and want somewhere to put the money they make, consider opening a savings
account. The earlier they start saving, the better!

Use Age-Appropriate Chores for Allowance

Allowance is a wonderful way to raise money‐smart kids, but only when it’s done the right way. Give your kids an allowance for completing a task to teach them that work is rewarded. When they’re younger this can be as simple as cleaning their room, feeding the pets or picking up their toys. Once they get older, they can help with things like cleaning the bathroom, folding laundry, doing the dishes or helping cook meals.

Budget With Them

Budgeting is especially important once your child is old enough to be working and making their own purchases. Help them come up with a realistic budget and show them the best way to track their spending, whether that’s using pen and paper or an app on their phone.

Yes, parenting can be taxing and tricky, but above anything it’s incredibly rewarding. Join the generation of parents who want to raise their kids to be financially wise! Visit our website to learn more about the services we offer or to open your kid’s first saving account.

Peoples Bank & Trust Co.
Member FDIC
Equal Housing Lender

cybersecurity

Cybersecurity 101 for a Remote Workforce

As remote work becomes more “normal” in today’s world, it’s important to consider the security risks that come with working from home. Whether you’re an employee or manage employees who work from home, these tips will help protect both you and the company you work for.

1. Use a VPN

If you ever must use unsecured or public networks, make sure remote employees are using a VPN. This will encrypt all your internet traffic which prevents outsiders from keeping tabs on your activity. Make sure you do your research and use a VPN that has good speed and stability, otherwise it could slow down your internet speeds.

2. Watch Out for Phishing

We’ve all received a phishing email before, and sometimes they’re obvious to catch. Other times, though, phishing emails look realistic and not like scams at all. Be careful and always check the sender’s email address and content of the email before clicking any links or responding. Another clear sign of phishing scams is when there are spelling and grammar mistakes.

3. Utilize Cyber Training Frequently

There are lots of cyber awareness programs that help track and improve the cyber risk of your team. The training your team completes should go over possible cybercriminal situations, how to handle them, rules for device use, new threats to keep in mind and more. This will help your employees feel more prepared when a cybersecurity issue arises.

4. Keep Devices Locked

Locking your device when you walk away from your workspace is an easy task to forget since it’s not a habit formed when you’re in the office. This is extremely important if you’re working in any public setting like a coffee shop, but you should even lock your devices when you’re at home. Your little one could end up messing with your keyboard and pushing buttons, an untrusted roommate might get snoopy… you never know and it’s better safe than sorry!

5. Use Strong and Secure Passwords

One of the most obvious but most important things when it comes to cybersecurity is using strong
passwords. Make sure it:

  • Doesn’t include personal information
  • Includes numbers, special characters, upper and lowercase letters
  • Isn’t too short

Password managers are a great option since it can be difficult to remember multiple complex passwords. They’ll keep your strong passwords organized and easy to access for your convenience and safety.

As a business, training staff on cybersecurity has become crucial and will only become more important as time goes on. Remote work isn’t going anywhere anytime soon – if anything it will become more common – so now’s a great time to send this article as a reminder to your team of remote workers!

Peoples Bank & Trust Co.
Member FDIC
Equal Housing Lender

piggy bank

How much should you save every month?

With bills, insurance, monthly expenses, retirement and more, how is there anything left to save? And if there is any money left, what do you save for and how much should you be putting away? We’re here to help answer these questions! Here is how much you should save every month. 

50/30/20 Rule 

You may see a lot of recommendations for saving 20% of your income every month. According to the popular 50/30/20 rule, you should reserve 50% of your budget for essentials like food and rent, 30% for discretionary spending and at least 20% for savings. But it’s not always that simple sometimes. If you earn more money, then 20% makes sense for you. But if after calculating your budget and 20% just isn’t within reach, don’t get discouraged. Saving something is better than nothing – so try for 10-15% if possible. 

Automate your savings so you don’t have the choice to use that money if it goes straight to a checking account. If you get a bonus or raise, put that straight towards one of the below items. You were okay without that money and getting by so put it towards savings instead of into your pocket to spend. 

Retirement 

Saving for retirement should be started as soon as possible and is a lifetime goal. Saving younger means you’ll have less to save each month than if you start later. A general rule of thumb is to have one times your income saved by age 30, twice your income by 35, three times by 40, and so on. Try to save 10-15% of your salary for retirement. Increase by 1% in savings each year until you can get to a number close to that. 

Emergency Fund 

You may think you are okay and don’t have to worry about a large emergency. But if your furnace and a/c go out, you are out $10,000 in supplies and labor right there. You may not have that big of a cushion to fall on if you thought your emergency will only cost $1,000. Your emergency fund should be 3-6 months’ worth of expenses which includes your monthly expenses and salary so you would be covered if you were to lose your job. We know that seems like a lot but slowly work towards that over the years. 

Family 

Think about what you want to save for regarding family. Do you need a new car to fit your growing family, will you be helping your child pay for college, are you going to take a family vacation, or do you just need to save for the overall cost of having a child? Thinking about your future and the costs that you will incur regarding family should be added into a savings plan. 

These are some of the top things you will want to save for and how much you need to save for each! If you need to place your savings in a savings account, CD/IRA or checking account – we have you covered. 

Peoples Bank & Trust Co. 

Member FDIC 

Equal Housing Lender