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Blog Saving & Budgeting

5 Ways to Help Your Kids Learn About Money

Responsible spending habits will help your children learn how to make the right choices. You can do many different things to get your children on the right track to a bright financial future. Check out a few ways to get started:

  1. Shop with your children. When you go to the store, talk to your children about what you’re buying and why. Teach them how to compare prices and explain why it’s not always the least expensive item that’s the best deal.
  2. Open a youth account. Visit any Pinnacle Bank branch or go online to open a Captain Summit Savings Account. Use this account to help your children learn how to set and achieve savings goals. As your children mature, you should consider opening a joint checking account with them. That way, you can teach them about fees, overdraft protection, how to use a debit card safely and the benefits of using online and mobile banking to manage their account.
  3. Plan vacations together. Children love vacationing. Instead of having to say “no” more than you’d like during your getaway, let your children help you plan your trip. Talk to them openly about your budget and ask them to develop ideas for lodging, activities, food and even souvenirs that will stay within your budget. Not only will you be teaching them how to plan using a budget, but you’ll have a fantastic vacation as well.
  4. Talk about credit with your teenagers. Your children must understand what credit is and how it works before leaving home after high school. Consider co-signing on a credit card with them to allow them to use credit responsibly under your direction and, at the same time, begin to establish credit. Discuss how credit works and the ramifications of using credit unwisely.
  5. Promote the entrepreneurial spirit. Allowing your children to start a business may help them feel more comfortable and confident with money. For example, maybe your younger children want to sell lemonade on your block, or your older children want to start a lawn care business in the neighborhood. Whatever the case may be, you can help them decide how much to charge (adding a premium for their time and profit) and how to manage their schedule.

While each family is different, the most important thing is to teach your children about money as early as possible. You’ll find that it’s not as difficult as it may seem, and your children will likely enjoy the education.

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Blog Saving & Budgeting

Six Ways to Help You Save More This Year

Saving money is a critical part of any financial strategy – whether building an emergency fund or saving for your future retirement. And while some may think they can’t save money, the reality is that everyone can save. By following these tips, you’ll learn ways to save money that you may not have imagined:

  1. Monitor your budget. Once you design a reasonable budget, you’ll need to track where you stand monthly. Take a look at how much you’re spending, where you may be able to cut expenses and how you may add income each month. Make adjustments where needed to try to save as much money as possible.
  2. Set up automatic deposits to your accounts. Many financial experts recommend saving 20% of your income each month. For some, this may seem to be an impossible task – especially if you’re living paycheck-to-paycheck. So if 20% is a little high for your budget, start with what you can afford. Even if your budget only allows $20 a paycheck, that’s better than nothing – and you won’t ever see it if you automatically transfer your funds to a savings account. Using Pinnacle Bank’s Systematic Saver is a great way to build your savings each month.
  3. Negotiate better deals for services used. Your monthly bills can add up, so review your recurring bills to see where you can make changes – cell phone, streaming services, subscriptions and more. For example, contact your cell phone provider and ask what specials are available. If you can’t negotiate a better deal, shop around. Spending $50 less on recurring monthly bills can add up over time and allow you to save more money in the end.
  4. Use gift cards and points to purchase essential items. Instead of spending your birthday gift card on something you really want, maybe reconsider and spend it on something you need. For example, use cashback rewards to pay for groceries or use gift cards to purchase essential items you need at home. And never allow your loyalty points or other perks to expire. Take advantage of the free money you can spend on the things you need. Check out these benefits of a Pinnacle Bank MasterCard®.
  5. Eat at home more often. When you cook most of your weekly meals, you’ll save hundreds of dollars each month and you’ll likely eat healthier as well.
  6. Use coupons and buy items on sale. Coupons may sound “old school,” but they can still save you money and that never goes out of style. You should always have a supply of easy-to-prepare items on hand to help in any emergency. It’s never a bad thing to keep your pantry stocked with the stuff you need.

Saving money is a commitment, but you can do it. As you start to achieve some of your savings goals, you’ll begin to see how easy it is – and it will become a habit. You’ll then experience the true financial freedom you desire.

To learn more about how we can help you save at Pinnacle Bank click here, or call 877-759-7939. We’re here to help you achieve your financial goals.

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General News

Employee Insights – Bryan Montgomery

Bryan Montgomery recently joined the Pinnacle Bank team as the Deposit Operations Manager.

Bryan grew up in Elberton, Georgia, and served in the U.S. Navy for 22½ years. He received his Bachelor’s Degree in Nuclear Engineering Technology at Thomas Edison State College and earned an MBA from Trident University International.

Coming from a Naval background, Bryan understands the value of working together as a team to make the customer experience at Pinnacle Bank a great one — and he has already found that to be the more enjoyable part of his job. His background in management, leadership, budget tracking, strategy and project management has allowed Bryan to step into his new role and immediately make a difference.

When he’s not working at the bank, Bryan is exercising, practicing karate, bicycling and doing DIY home projects.

We’re glad Bryan is a part of the Pinnacle team and look forward to great things happening in the future.

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Blog

Seven Ways to Grow Your Online Community

More than ever before, people use the Internet to find a business, which means your online presence is critical to your success. Most companies today have a website, blog and social media pages. But how can you get people to engage with your online resources? How can you continue to grow your online presence?

Consider these seven tips to help you get started:

  1. Develop an email list. Your email list will enable you to engage with existing and potential customers regularly. And continue to fine-tune your email list so you can target customers in a way that personalizes their experience with you. Require an email address to purchase an item in your online store, or use the tools in your content management system (CMS) to create forms or pop-up call-to-action requests designed to help you gather email addresses.
  2. Learn all you can learn about SEO. Search engine optimization, or SEO, is one of the best tactics you can take to build your online presence. Find out what keywords you should use on your website, blog, or social media sites to engage customers so you can move up when people search for businesses on the Internet. Be sure you sign up for local directories like Yelp, YellowPages and Google My Business and use directories that list your services, such as Angie’s List or Houzz. Keep an eye on what your competitors are doing to see what SEO keywords they may be using or how they engage with customers — you can learn a lot from your competition.
  3. Produce content for free. Make a list of the “pain points” your customers experience. Then write content to answer questions or resolve issues they may have — and push it free to your customers through email, your blog, social media, or other online resources. You can also broaden your reach by sharing your content on sites where your customers may be active, such as Facebook, Instagram, Pinterest, Goodreads and more.
  4. Try online advertising to get your message out. The fastest way to build your online presence is to use online advertising. Remember, if your ad shows up in the top search results, you’ll quickly build brand awareness and increase visibility. Consider advertising on Google, Yahoo, or Bing, as well as your social media sites.
  5. Experiment with influencer marketing. Who are the most notable figures in your market? Can you advertise on their website or social sites? Many consumers look to these “influencers” for reviews and promotions before buying something. Using influencers, you can get the word out about your company and get people talking about you. The more often people talk about you, the more prominently you’ll appear in any Internet search.
  6. Develop relationships with others in your industry. If you have a relationship with blog writers or podcasters in your industry, you can work with them to feature your content or appear as a podcast guest. For example, you can partner with an industry association or the local chamber of commerce. Be creative as you forge relationships and keep your growth goals top of mind.
  7. Show up where your customers are looking. Be smart with where you spend time and money online. If your customers are Instagram users, don’t put as much effort into Twitter. You can also take advantage of remarketing tools to guide your ads to locations where your customers will likely look.

 

Stay safe while online.

While growing your online presence may be vital for your survival, it also may put you at more risk for fraudulent activity. Take a few minutes to review these simple online safety tips from the Consumer Financial Protection Bureau (CFPB). When you take extra care to protect you, your business and your customers, it’s ultimately a win-win for everyone.

Be patient.

Above all else, building an online presence requires time and effort. Be patient and review every action you take to ensure it’s doing what you want it to do. Some marketing strategies will work better than others — don’t get discouraged if something doesn’t work right away. The key is to keep trying and over time you’ll see that it will all pay off with improved brand awareness and a healthier bottom line.

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Blog

Are Your Employees Happy?

It’s a known fact that if you want to make your customers happy, you need to start with your employees. And that doesn’t necessarily mean giving them more money or time off. Here are five ways you can keep your employees happy and fulfilled at work:

  1. Communicate, communicate, communicate. In this time of COVID-19, it’s more vital than ever to be fully transparent with your employees. That means, meet with them regularly (whether virtually or in-person) to let them know how your company is progressing and where you stand in achieving your goals. Additionally, remember that communication is a two-way street. It would help if you listened to your employees any chance you get. Find out what they need, and make your response to those needs a priority.

Advantage: Besides building a better relationship with your staff, transparent communication will not cost you a thing. You may find that implementing new ideas will streamline processes and create more long-term creativity for your company.

  1. Provide opportunities for career and employee development. Brainstorm ways you can help your employees develop in their jobs. You should also find ways to expand your employees’ understanding of your field — doing so can potentially help you learn new and unique ways to grow your business as well. Maybe it’s as simple as designating time to watch webinars or pay for them to attend conferences or trade shows. Whatever the case may be, get creative and be open to ideas your employees bring to your attention.

Smart idea: Sit down with each employee to map out their path within your company. Then discuss how to reach the goals you establish together.

  1. Encourage work-life balance. No one wants to work for a taskmaster. Be sure your employees aren’t taking work home or becoming burdened with assigned projects. If your employees work virtually, don’t call or text them when they’re supposed to be taking a break or done working for the day. And be as flexible with their time as possible.

Tactic: Implement a wellness program — healthy employees take fewer days off and are more productive.

  1. Ask for and implement employee suggestions. When people are spending so much time at work, it’s important they feel part of the bigger picture. Consider starting a suggestion box and discuss ideas given regularly. If you only have a few employees, spend time with each person to see what insights he or she may have about your company and your customers.

Another option: When you’re looking to add something new to your business, talk to your employees to learn things you may have overlooked.

  1. Show gratitude for your employees. A simple “thank you” can make a difference on any given day. Send an email to an employee or leave a post-it note sharing your appreciation for a job well done. Or, buy breakfast or lunch for your employees “just because.” And if they’ve achieved goals or smashed through a particularly challenging project, consider rewarding them with a half-day off.

Try this: Make it a goal to thank your employees regularly in some way. Implementing a culture of appreciation will wear off on your employees over time.

Always remember, your employees are your greatest asset. The more you invest in their happiness, the more likely you’ll see increased customer satisfaction and improvement to your bottom line.

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Blog

Five Easy Ways to Stay Community-Engaged During COVID-19

Many businesses are coming up with creative ways to meet the needs of their customers during the pandemic. “Business as usual” has taken on a new meaning for most small businesses; however, one thing has remained consistent: the local community is vital for survival. How can you continue to create excitement and improve engagement in your community amid the pandemic’s continued restrictions?

Here are a few ideas to help you generate excitement and engage local customers:

  1. Give back to the community. What can you do to help those who are most vulnerable in your local area? Give a monetary donation to a local charity or partner with a community non-profit organization to sponsor a fundraiser. You can also encourage your employees to volunteer at non-profit organizations or special events and actively participate in community groups. Be sure to share what you’re doing with your customers – let them be a part of the process as well. Ask them to “join you” in donating time or money to specific causes that make sense for your company and your community. Your efforts in giving back to your local community will shine bright, and you’ll be amazed at how you and your employees will feel as well.
  2. Set up a virtual “Kudos” jar or suggestion box. Ask your customers how you’re doing and encourage them to give feedback. The more you learn about how you’re doing, the more you can fill in any service gaps that may exist. When you make changes based on customer suggestions, talk about it on social media, so people know you care about what they think.
  3. Support other small businesses. Find ways to cross-promote local companies — you need each other right now. Consider packaging deals together with another business or two. For example, if your customer buys something from Store A or Store B, they’ll get a discount at your store (and vice versa). Or maybe it’s as simple as co-sponsoring an educational or local event with one or two other local business owners.
  4. Keep in touch. Of course, you know how critical it is to stay in touch with your customers when you may not be able to see them regularly. It may be the right time to send out an eNewsletter to talk about what you’re doing or targeted emails to ensure they are aware of specials or other options. And keep your social media and website up-to-date. Additionally, you must maintain a relationship with community leaders and groups so you can take advantage of any opportunities available to you and your company. Send them regular emails or set up video conference calls to discuss what’s happening in the community and how you can help.
  5. Get creative on social media. While we continue to physically distance, use your social media channels to lessen the gap. Connect with your customers by engaging with their posts, answering questions, or starting conversations about your area of expertise. Maybe start a challenge group where you encourage customers to strive toward a common goal or hold a promotional event where customers must check in every day to get the next “clue” for a special deal or prize.

Whatever you do, always keep your eye focused on what customers want or need right now. If you have experienced challenges in your community, don’t shy away from being part of the solution. For example, donate masks or hand sanitizer to local schools (with your brand on them), or share your expertise about specific topics at community educational events. Be seen as part of the solution, and your reputation will improve — even amid a pandemic.

Categories
General News

Employee Insights – Susan Andrews

Susan Andrews serves as the ISO & Integrated Solutions Specialist at Pinnacle Bank, adding over 12 years of banking experience to our team.

Susan started her career in the grocery industry, where she served as a cashier at age 16 and worked her way up to become the store manager. In 2008, Susan decided to change her career path and landed at Pinnacle Bank.

As the ISO & Integrated Solutions Specialist, she supports the tellers and personal bankers at all Pinnacle Bank branches. She enjoys the challenge of learning how to make processes better and serve customers more efficiently. She truly enjoys being able to problem-solve and help her team grow.

Susan is currently attending the Georgia Banking School, where she learns about innovative and effective ways to support her team and Pinnacle Bank customers. In her free time, she enjoys being outside, specifically working in her yard and gardening.

We’re glad Susan is a part of the Pinnacle team and look forward to great things happening in the future.