Ways Your Small Business Can Stretch Its Budget — and Boost Its Bottom Line

Home Blog Ways Your Small Business Can Stretch Its Budget — and Boost Its Bottom Line

Posted On: May 19, 2025 by Peoples Bank of Kankakee County in: Budget business

Running a small business means balancing many priorities at once — and making every dollar count. Whether you're just starting out or looking to improve your financial strategy, finding smart ways to stretch your budget can help strengthen your operations and increase profitability over time. Here are some practical strategies to help you maximize your resources and boost your bottom line.

1. Reevaluate Your Expenses Regularly

It’s easy for recurring costs to pile up unnoticed. Take time each quarter to review your expenses and identify areas where you can cut costs or renegotiate contracts. Look at subscriptions, vendor services, utilities, and insurance to see if better rates or more efficient options are available.

2. Embrace Technology

Investing in the right technology can streamline operations, reduce labor costs, and improve customer service. Automation tools for accounting, marketing, inventory management, and communications can save time and money in the long run.

3. Outsource Strategically

Hiring full-time employees for every role can be costly. Instead, consider outsourcing tasks like IT support, graphic design, bookkeeping, or marketing when needed. Freelancers and specialized agencies can often provide high-quality work at a lower overall cost.

4. Focus on Energy Efficiency

Reducing energy use can have a significant impact on your monthly bills. Simple changes like upgrading to LED lighting, maintaining HVAC systems, and encouraging energy-conscious habits among employees can lead to real savings over time.

5. Build Strong Vendor Relationships

Developing strong partnerships with vendors can open the door to better pricing, flexible payment terms, and insider tips on upcoming deals. Don’t be afraid to negotiate — vendors often value long-term relationships as much as you do.

6. Prioritize Marketing That Works

You don’t need a massive marketing budget to make an impact. Focus on cost-effective strategies like social media marketing, email campaigns, and local partnerships. Track the performance of your marketing efforts and double down on the methods that bring the highest return.

7. Create a Financial Cushion

Setting aside a portion of your earnings for unexpected expenses can prevent cash flow issues down the road. Even small, regular contributions to a business savings account can add up, giving you more flexibility and security.

Need help managing your business finances?
At Peoples Bank of Kankakee County, we’re committed to helping local businesses thrive. From business checking accounts to customized lending solutions, our team is here to support your success. Contact us today to learn more about how we can help you strengthen your business's financial foundation!

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.