Save $1,000 (or more) this year

Posted on Jan 18, 2018 in Featured, Managing Your Money, Money Tips, Personal Financial Insights |

There are several ways to build a savings account. A popular one is the 52-week challenge. The way it works is you save $1 the first week, $2 the second week, $3 the third week, and so on for 52 weeks. We like this because it starts small to get you started. A variation of the 52-week challenge is an ingenious chart we found at that gives you a little more control – just pick an amount that you can save that week and...

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Start 2018 with these budgeting tips

Posted on Jan 3, 2018 in Featured, Managing Your Money, Personal Financial Insights |

If your New Years resolution is to save money, start with a budget that you can live with that includes saving some of your income every month. It sounds simple, right? Tracking your monthly spending, then making a plan to stay within that budget can be an overwhelming task for some people. We suggest starting small. First, look at your after-tax income. Don’t include income you can’t be sure to receive, such as periodic bonuses or...

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America Saves Week Feb 27, 2017

Posted on Feb 21, 2017 in Managing Your Money, Money Tips, Peoples Bank News, Personal Financial Insights |

A lot of people in America have a name for their biggest single paycheck: “Tax Refund.” Tax refunds often help families move up the economic ladder when they use it to pay down debt, help purchase necessities, or increase disposable income (savings). On the flip side, tax refunds can have minimal impact when used to purchase things that have little value, or worse, have no value. Peoples Bank wants you to be economically stable. We want you to...

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Tips for Saving Money (even if you don’t have a lot)

Posted on Nov 10, 2016 in Featured, Money Tips, Peoples Progress e-Newsletter, Personal Financial Insights |

These days, with interest rates at historic lows, the good news is that loans are more affordable than when rates were higher. The bad news is that saving money to create wealth takes more thought and effort. Because of the Rule of 72, simply putting some money in a savings account used to be an effective strategy. Back when deposit interest rates were 4%, interest alone would double your initial deposit in just 18 years. Now, with rates near...

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