Coastal Community Bank

Hey, foodies! Remember when food inflation was just 3.9% annually back in 2020? Fast forward to March 2024, and food prices have skyrocketed by 25.8%! A basket of groceries that cost $100 in November 2020 now sets you back $125.80. That’s nearly $26 more for the same items! The USDA offers four food plans to help you budget for a healthy diet: Thrifty Plan Low-Cost Plan Moderate-Cost Plan Liberal Plan Each plan outlines the quantities of food and beverages you can buy to prepare healthy meals and snacks at home. Here’s what a Female aged 19-50 spends per month on groceries according to these plans: -Low-Cost Plan: $261.10 -Moderate-Cost Plan: $319.20 -Liberal Plan: $406.80 And for a Male aged 19-50: -Low-Cost Plan: $301.30 -Moderate-Cost Plan: $377.80 -Liberal Plan: $460.10 Run through the 'Grocery Budget' calculator to see how your grocery budget compares --> https://lnkd.in/g868hgcA #Inflation #Budget #FoodPlans #HealthyEating #BudgetFriendly #MoneyTips #BalancedBudget #Budgeting #Food #Foodie #EatSmart

?? Home Maintenance: The Real Cost of Keeping It Cozy! ?? Hey, homeowners! Did you know according to a recent study by Thumbtack, it cost an average of $6,663 a year to maintain a single-family home in the fourth quarter of 2023? That’s an 8.3% increase from the previous year! ?? Here’s a peek at what those costs cover: Appliance repair/maintenance ??? Carpet cleaning ?? Central air repair/maintenance ?? Deck staining and sealing ?? Duct and vent cleaning ??? Fireplace cleaning/repair ?? Lawn care ?? Gutter cleaning ??? Heating system maintenance ?? House cleaning ?? Pressure washing ?? Roof maintenance ?? Sprinkler maintenance ?? Tile and grout cleaning ?? Tree removal and trimming ?? Water heater maintenance ?? Window cleaning ?? Phew! That’s quite the list! ?? Do you tackle all these tasks annually for your home? Or do you have some secret hacks to keep costs down? Share your tips and tricks in the comments below! ?? #HomeMaintenance #ThumbtackStudy #HomeSweetHome #BudgetFriendly #DIY

The Federal Reserve’s September meeting is this week, and everyone is buzzing about what they’ll do with interest rates. Many experts believe a rate cut is on the horizon. However, the exact amount is still up for debate. What’s your prediction? ? Feel free to share your thoughts and let’s see what everyone predicts! Update: The fed announced today it will cut interest rates by .50%.

Are you considering selling your business? Determining an asking price or worth can be a challenge. Generally, it starts with calculating your business's EBITDA, understanding market conditions, and demand for your services or products. In our latest blog, we go depth on other factors - specific to certain industries - that you should consider before selling a business. Give it a read --> https://lnkd.in/gm9c8Xit #businesstips #smallbusiness #moneytips #businessowners #businesssale #sellingabusiness #shoplocal #ebitda

? Business travelers. Jet setters. ? We need your help settling the age-old “seat recline” debate! We have those that believe it is more than acceptable to lay your seat back while on a flight. But, others that say – no, that’s rude. Travelers are already crunched for space. When you travel on your business trip or head out for a vacation, who are you? Give a ?? if you are team Recline: “It’s my right! I paid for this seat, and I need my beauty sleep! ??” Give a ?? if you are team Upright: “Hey, my knees need space too! Let’s keep it comfy for everyone. ??” #travel #airplane #businesstravel #vacation #business

The scammers just won't quit! Cybercriminals continue to call and send emails claiming to be from a bank or credit union. Many times, these emails look legit. Real logos. Well written with the help of AI. And, links that look click-worthy - in hopes they can 'get you'. Don't be fooled! Follow these tips to avoid falling victim to a malware scam: Scammers rely on creating a sense of urgency to trick you into clicking on links. If you receive an unexpected email, always stop and think before you click. In this situation, the email claims to be from your bank. Instead of clicking on a link in the email, you should contact your bank directly to verify if action is needed. Be sure to follow your organization’s instructions regarding security updates and antivirus software. By keeping your software up to date, you can help protect your device from a malware infection. #cybercrime #banking #bank #scamalert #fraud #beaware #junkmail #email #hackers

Thinking about starting a business? You might consider purchasing one that is already established instead. It may be more cost effective, in the long run, to acquire an existing business that has a proven track record and positive cash flow. Build Relationships Early - Connect with potential sellers before they think about selling. Leverage Your Network - Talk to lawyers, accountants, or bankers. They can't disclose client details, but can point you in the right direction. Attend Industry Events - Conferences and association meetings are prime spots to meet business owners that can lead to private deals. A full breakdown of considerations are detailed in our latest blog. Link is available in the comments. #businesstips #buyabusiness #entrepreneurship #entrepreneur #moneytips #smallbusiness #business

New Rules for Buying and Selling a Home! Starting August 17th, real estate transactions are getting a makeover! Here’s what you need to know: For Buyers: Sign Before You Tour: You’ll need to sign a written agreement with your agent before touring homes. This agreement will outline how much you’ll pay your agent. Commission Clarity: Expect to cover a commission of 2.5% to 3% for now, this average percentage may lower over time. Consider offering a flat fee or paying by the hour for more transparency. Direct Conversations: Agents will now have more direct conversations about their compensation. No more “free” tours! For Sellers: Lower Commissions: You’ll only need to pay for your agent’s commission, typically 2.5% to 3%, however, this may lower over time. Competitive pressure might push this down further. Open Discussions: Talk openly with your agent about reducing or eliminating the buyer agent fee and how it impacts your sale. These changes aim to make the home buying and selling process more transparent and fair. Equal Housing Lender ??? #RealEstate #HomeBuying #HomeSelling #RealEstateRules #RealEstateTips #CommercialRealEstate #NewHome

Curious how commercial real estate sectors are doing in the current economic conditions? Multifamily - Stable. The sector has seen rents increase by 0.3% in the first half of 2024. The vacancy rates have remained stable at 5.7%. Industrial - Showing signs of slowing. New construction projects have slowed, and vacancies are on the rise. Retail - In a holding pattern. Vacancy rates remain flat and spending continues, with buyer preferences towards experiences. Office - Working from home means fewer people are going to the office, creating a record vacancy rate of 20.1%. Washington state is considering new policies for commercial-to-residential conversions to address the housing demand. Details are broken down in our latest blog --> LINK IN THE COMMENTS #realestate #commercial #cre #banktrends #banking #businesstips #realestatetips

You may have heard of Quiet Quitting, but have you ever heard of Quiet Vacationing? It’s the latest buzz in work-life balance! What’s Quiet Vacationing? It’s when employees sneak in some downtime without officially clocking out. Think working remotely while secretly soaking up the sun! Pros: Stress Buster: Say goodbye to burnout and hello to relaxation! Sneaky Breaks: Need a break but short on vacation days? Quiet vacationing to the rescue! Stay Productive: Keep up with work while enjoying a change of scenery! Cons: Blurred Lines: Work and play mixing too much? It might just stress you out more. Trust Issues: If caught, it could spark some serious trust issues with the boss. Ethical Dilemma: Is it fair to your team if you’re off gallivanting while they think you’re working? What’s your take on Quiet Vacationing? 1. Totally for it! Work hard, play hard, right? 2. Not sure, seems a bit risky… 3. Only in dire need of a break. 4. No way, I’m a by-the-book vacationer! Let’s see where we stand on this trendy topic! Drop your thoughts in the comments. #QuietVacationing #WorkLifeBalance #RemoteWork #HybridWork