Wishing you a Christmas filled with love and laughter that lends way to a bright and fresh New Year. May this season be filled with an abundance of peace, joy, and hope for you and yours. Merry Christmas and Happy Holidays from everyone at Teslar! We are grateful to you for making our progress possible.
The air is filled with good vibes and glad tidings at Christmastime. There are so many fun activities and events unique to the season, and while it’s not possible to do them all, it’s fun to deliberate and choose some that are special to you and yours. Whether you’re looking for new traditions or wanting to change up some standing ones, we’ve got you covered.
The Christmas season is a uniquely busy time of year. It seems like every single day in December a new event or task is being added to the calendar—holiday parties, family dinners, children’s performances, cookie exchanges, gift shopping, holiday traditions, Secret Santa’s, tree decorating… the list goes on and on. It often begins with the best intentions: time together, fun memories, and a wonderful holiday season for our family.
The Census Bureau collects household information in order to understand the nation’s people and economy. The data describes where people live, their living arrangements, ages, income, education level, commuting patterns, and occupations.1 This information helps all members of the community in different ways. Following the constitutional mandate of equal population representation, the data is used to apportion seats in the House of Representatives and draw district boundaries. Conducting a census every ten years is required by the U.S Constitution.
The talk of today is all about going digital. In an effort to meet the needs and demands of today’s smartphone-driven world, it only makes sense that some banks are opening less brick and mortar branches and focusing on developing and improving mobile and online services. Interestingly though, new research is saying banks might want to reconsider this direction as many young customers still rely on physical branches for banking.
Looking at the success of others, we can see what consumers want. Something Apple, Google, and Amazon all have in common is that they thrive with simplicity. Consumers love the sleek, uniform, and easy-to-use features of Apple products. People love how easy it is to find information with a quick Google search. People love finding what they need, buying it with the touch of a button, and having it on their doorstep within a day or two. It’s the ease, the simplicity.
For the first time in ten years, the Federal Reserve cut interest rates this past July. Then again in September… and then again in October. Prior to these cuts, rates had been steadily rising. The quick and sudden shift in the direction of interest rates has left financial service providers re-strategizing how to grow deposits in the coming year.
- Budget Ahead of Time
Most of us have resigned to going for broke when it comes to the holiday season. We often overlook just how many people we need to buy for, just how much food we need buy, and all the parties we need to attend. Try budgeting first to see how much you have available to spend and remember all the small details that add up. We tend to miss minor expenses like postage for Christmas cards, ingredients for cookie exchanges, home décor, travel expenses, etc. Most importantly, set a realistic budget. Don’t make it too tight.
The FDIC recently released its latest Quarterly Banking Profile for Q3 with positive results. The results include all FDIC-insured institutions. The profile is described by the FDIC as a “report card on industry status and performance.” The report looks at balance, loan performance, quarterly income, annual income, ratios by asset size, loans to small businesses and small farms, and ratios for community and non-community banks.