Embrace the Season: Fall Financial Tips from Peoples Bank

Home Blog Embrace the Season: Fall Financial Tips from Peoples Bank

Posted On: November 4, 2024 by Peoples Bank of Kankakee County in: Personal Finances

As the leaves continue to change and the air turns crisp, fall is not just a time for cozy sweaters and pumpkin spice lattes—it’s also an ideal opportunity to assess your financial health and make plans for the months ahead. At Peoples Bank, we want to help you make the most of this season by sharing some practical financial tips tailored for the fall.

1. Review Your Budget

Fall is the perfect time to take a close look at your budget. With the holiday season on the horizon, ensuring that you have a clear financial plan in place is crucial. Ask yourself:

Are there any upcoming expenses, such as gifts or travel?
Can you identify areas where you can cut back on spending to save more?
Do you have enough set aside for unexpected costs, like home repairs before winter?

2. Start Saving for Holiday Expenses

As the holidays approach, expenses can add up quickly. Start setting aside a little each week to cushion the financial impact of holiday shopping. At Peoples Bank, our savings accounts offer flexible options to help you reach your goals. Whether you're saving for gifts, travel, or holiday gatherings, having a dedicated account can keep your budget in check.

3. Consider Home Maintenance and Improvements

Before winter arrives, it’s wise to tackle any home maintenance projects. This could be a great time to:

Inspect your roof and gutters to prevent ice damming.
Winterize your home by sealing drafts and checking your heating system.
Consider small renovations that may increase your home’s value.

If you need financing for these projects, Peoples Bank offers competitive home equity loans to help you manage costs effectively.

4. Assess Your Loan Options

With interest rates constantly changing, now may be a good time to explore refinancing options for your existing loans or to consider a new mortgage. Our dedicated mortgage specialists are here to guide you through the process, helping you understand the benefits of fixed-rate vs. adjustable-rate mortgages, and finding the right fit for your financial needs.

5. Plan for Future Goals

Fall is a great time to revisit your long-term financial goals. Are you saving for a new home, starting a business, or planning for retirement? Peoples Bank can help you create a tailored strategy that aligns with your aspirations.

6. Take Advantage of Digital Banking Tools

As the season gets busier, leveraging our online and mobile banking services can help you stay organized. With remote deposits, bill pay options, and real-time account monitoring, managing your finances on the go has never been easier.

Final Thoughts

Fall is a time of change and reflection, making it an excellent opportunity to enhance your financial wellness. Whether you need to save for holiday expenses, assess your loan options, or plan for future goals, Peoples Bank is here to help. Let’s embrace this season together and make strides toward a financially secure future!

Visit us at Peoples Bank to learn more about our services or to speak with a financial expert today!

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:

We have standard overdraft practices that are available after your account has been open for 30 days and as long as you maintain your account in good standing.
We also offer an overdraft protection plan, Overdraft Protection Sweep, a link to a savings account. It may be less expensive than our standard overdraft practices. To learn more, ask us about this plan.

This notice explains our standard overdraft practices.

What are the standard overdraft practices that come with my account?

After your account has been open for 30 days and as long as you maintain your account in good standing, we do authorize and pay overdrafts for the following types of transactions:

Checks and other transactions made using your checking account number
Automatic bill payments

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):

ATM transactions
Everyday debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.

If we do not authorize and pay an overdraft, your transaction will be declined.

What fees will I be charged if Peoples Bank of Kankakee County pays my overdraft?

Under our standard overdraft practices:

We will charge you a fee of up to $30 each time we pay an overdraft.
The maximum daily overdraft fee per presentment or item paid using the Overdraft Reserve Program is $150.00 per day.
No per item handling fee will be charged on de minimis overdrafts. De minimis overdraft for this policy means transactions that overdraw your account by $30 or less.
There is an overdraft fee of $5 per day that will be charged beginning the 4th consecutive business day your account is overdrawn.

Nonsufficient funds (NSF) fees - if an item drafted by you (such as a check) or a transaction you set up (such as a preauthorized transfer) is presented for payment in an amount that is more than the amount of money in your account and we decide not to pay the item or transaction, you agree that we can charge you an NSF fee for returning the payment. Be aware that such an item or payment may be presented multiple times by the merchant or other payee until it is paid, and that we do not monitor or control the number of times a transaction is presented for payment. You agree that we may charge you an NSF fee each time a payment is presented if the amount of money in your account is not sufficient to cover the payment, regardless of the number of times the payment is presented.

PAYMENT ORDER OF ITEMS - The law permits us to pay items drawn on your account in any order (for purposes of this section "items" means checks, orders and electronic transactions). To assist you in handling your account with us, we are providing you with the following information regarding how we process those items. When processing checks and orders drawn on your account our policy is to pay lower numbered checks and orders in numerical sequence, but electronic transactions are paid first in the order received. The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. There is no policy that is favorable in every instance. If the smallest items are paid first, you may have fewer NSF or overdraft fees, but the largest, and perhaps more important items (such as rent or mortgage payments) might not be paid. However, if the largest items are paid first, your most important items might be paid but it may increase the overdraft or NSF fees if funds are not available to pay all of the items. We think our policy attains a reasonable balance between minimizing additional costs to you and paying your more important items. We encourage you to make careful records and practice good account management. This will help you to avoid creating items without sufficient funds and incurring the resulting fees.

What if I want Peoples Bank of Kankakee County to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions after your account has been open for 30 days, you may opt in.

You have an ongoing right to change this consent at any time. If your overdraft privilege has been revoked for any reason, the opt-in or opt-out selection may not apply. Please contact your nearest office for more information.

Alternate ways to Opt In/Out or make changes:

By Phone. Our Customer Care Representatives can be reached at 815-936-7600.
By Mail. Peoples Bank of Kankakee County, 333 E. Court Street, Kankakee, IL 60901
In Person. Please visit your local office and ask a representative to help you decide which plan is best for you.