Financial Wellness Month: Take Control of Your Financial Future

Home Blog Financial Wellness Month: Take Control of Your Financial Future

Posted On: January 8, 2025 by Peoples Bank of Kankakee County in: Budget Personal Finances

As we step into the new year, January marks Financial Wellness Month, an opportunity to reflect on your financial health and take actionable steps toward achieving your financial goals. At Peoples Bank, we understand that financial wellness is more than just numbers—it’s about peace of mind, planning for the future, and feeling confident in your financial decisions.

In honor of Financial Wellness Month, here are a few steps you can take to improve your financial well-being in 2025, along with the tools and resources Peoples Bank offers to help you along the way.

1. Create a Budget That Works for You

A budget is the foundation of financial wellness. By understanding your income, tracking your spending, and planning for savings, you can ensure your money is working for you—not the other way around.

Peoples Bank Tip: Use our online banking tools to set up spending categories, track your transactions, and review your account activity. Our mobile app helps you stay on top of your budget, so you can make informed financial decisions wherever you are.

2. Build an Emergency Fund

Unexpected expenses—whether a medical emergency, car repair, or job loss—can be financially stressful. By building an emergency fund, you can prepare for the unexpected and protect your financial stability.

Peoples Bank Tip: Consider opening a Personal Savings Account or Money Market Account to grow your emergency fund. With competitive interest rates and easy access to your funds, you can start building your safety net today.

3. Pay Down Debt and Improve Credit

Managing debt effectively is a key component of financial wellness. Whether you’re tackling credit card debt, student loans, or a mortgage, paying down debt reduces stress and puts you in a better financial position for the future.

Peoples Bank Tip: Consider the FlexLine HELOC for Debt Consolidation Loans to help simplify your repayment process. We offer competitive rates and personalized financial guidance to help you pay off debt faster and manage your finances more effectively.

4. Start Saving for Your Future

Planning for retirement or other long-term financial goals is essential for financial security. The earlier you start saving, the better prepared you’ll be for the future.

Peoples Bank Tip: Explore our IRAs and Retirement Planning Services to begin saving for your future. We’re here to help you choose the right investment strategies to meet your goals.

5. Set Financial Goals for 2025

Financial wellness is a journey, and having clear, actionable goals can help you stay on track. Whether you want to save for a big purchase, pay off debt, or invest in your future, setting goals helps you prioritize your finances and stay motivated.

Peoples Bank Tip: Let us help you create a personalized financial roadmap to achieve your financial goals.

Financial Wellness Starts with You—and Peoples Bank Is Here to Help

At Peoples Bank, we believe that financial wellness is a lifelong journey. Whether you’re just starting to take control of your finances or looking to optimize your current financial strategy, we’re here to provide the support, resources, and personalized advice you need to succeed.

Start your path to financial wellness today. Visit your local Peoples Bank branch or explore our digital banking services to learn more about the tools available to help you manage your finances and achieve your financial goals in 2025.

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.