Many people love the idea of becoming car-free for a variety of reasons. They stay fit, save money, help the planet, reduce traffic jams, and open up parking spaces for others, to name just a few. Making a choice to live car-free may feel like a journey and may even leave you a little panicked. However, being able to help your budget, while also reducing your eco-footprint and help Mother Earth might make it worth it. Sure, it will probably be uncomfortable at first leading a car-free lifestyle. You may feel inconvenienced and “different” from many others, but those feelings could eventually dissipate. Below are things to consider if you are planning on leading a car-free life. Costs of Car Ownership The first thing to examine when considering a transition to a car-free life is your actual cost of car ownership. Review your financial accounts to see how much you spend every month on car expenses, like parking, gas, car insurance, and maintenance. To get a better estimate of all costs you may have overlooked during your monthly review, be sure to review expenses back for at least a year. Factor in the cost of your car, any interest on a loan if you took one out, and how much you pay each year in deductibles and insurance. Factor in depreciation, too. Your car is less in value the minute you drive off the dealer’s lot. Each day you have it parked in your garage or driveway, it is losing value. Don’t forget about any speeding tickets or parking tickets you may have received. Yes, they are expenses too. Evaluating Car Usage Now it is time to assess your vehicle usage. Ask yourself some questions such as: By asking yourself these questions, you may find that most of your regular stops are not that far from your home and could be in walking or biking distance. Alternative Transportation Methods To live car-free, you need alternative transportation options. What methods do you plan on using? You could: If you live in a rural area, it might be more challenging to live without a car, but that does not mean it is impossible. Now, not everyone can live without a vehicle. In many parts of the U.S., it is, necessary to have a car, but this does not mean you cannot use it less. Side Benefits There are several potential advantages of living a car-free life which include: Better Health. Although you may have gotten used to the luxury and convenience of having a car, in many situations, you can get where you need to go by walking. Also, as you know, walking (or biking) is exercise, which contributes to good health. Your feet might hurt a little at first, but walking can do wonders for your heart and shed off some of those unwanted pounds. Walking can also help to clear your mind and improve stress, as endorphin levels increase when you exercise. Being Part of Your Community. When you own a car, it can be too simple to hop in, crank your music and forget you are a part of a community of other people. If you are introverted, you may welcome this avoidance. However, it cannot hurt to take yourself a little bit outside your comfort zone. Walking or even riding a bus can lead to you meeting people and having interesting conversations. You may even make a friend. Besides, when you walk, you can take in the scenery like the blue sky, white clouds, the sun, and the sights and sounds around you. You cannot do this when you are too focused on traffic, lights, and signs. Being Kind to the Environment. Most experts believe that global warming is real, and if you can make a difference, wouldn’t you want to? Walking and biking are emission-free, and many of the public transportation options are hybrid vehicles and eco-friendly. Living without a car may not only be better for your health but for the planet too. If it is impossible for you to be totally car-less, maybe you can try using your car less. You can walk or bike for local errands and only use your vehicle when you cannot walk that far. Choices, as mentioned, are car share programs and Zipcars that you could use now and then. While you are still “technically driving” with these programs, they are cheaper than owning a car. Anything you can do to minimize your time behind the wheel can help save you money.

Leading a Car-Free Life

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So, you’re starting a new business? Congratulations! You’ve probably already chosen a great name, but have you thought about how that name will appear on your bank account? Titling your business’ bank account is an important early step in setting up a successful business. Business owners often choose one name for their business that appears on official paperwork while using a second name that’s more familiar to the public. For example, a vintage store may be called “XYZ Collectibles, LLC” on paper, but the name on their storefront is “Vicky’s Vintage.” Customers paying by check will likely make their checks out to the latter name. If you have more than one name associated with your business, consider titling your account with the primary name (XYZ Collectibles, LLC) and adding a DBA, or “doing business as” name (Vicky’s Vintage). This will help eliminate any confusion or delays when the bank processes your checks. It’s best to add your DBA name when you first open your business account to help simplify the steps you’ll need to take. If you add a DBA name later, you will need to update the signature card on file at the bank and register your new name with your state’s Secretary of State. You may want to get the help of a CPA when filing your paperwork, to ensure everything is filed correctly in order for your account to receive checks under both names. You can also get help with filing your new name on the official State of Ohio website, www.business.ohio.gov/filings. Also note that if you ever decide to open a second business, you cannot just add its name as another DBA under your first business. Instead, your new business will need its own Tax I.D. number (T.I.N.) and its own bank account. Again, a visit to the State of Ohio website or a conversation with a CPA will help guide you through these steps. The Business Banking team at First Federal Lakewood would be more than happy to help you create your new business account, set up Online Business Banking, or help with any other services your new endeavor may need. Let’s help your business grow!

Choosing the Right Name for Your Business Account

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Ransomware is a particularly destructive type of malware that encrypts a computer’s files, effectively holding them hostage until the user pays a ransom (often hundreds or thousands of dollars) to have the files unlocked. Because only the cybercriminals behind the ransomware have the key to decrypt the files, the victims are effectively helpless, and their files completely unusable, until the ransom is paid. Typically, ransomware is spread through phishing scams via emails containing macro-enabled documents or Zip files with Java scripts as attachments, though criminals are finding new ways to infiltrate. Once a computer is infected, the user receives a warning screen message announcing the encryption, followed by instructions for paying a ransom in exchange for a security key that unlocks their files. Why It’s on the Rise. In short, ransomware is very profitable. In the past, cybercriminals had to steal credit card numbers or personal information and try to sell it on the black market to make money. While somewhat profitable, this info was only worth a couple of dollars per account. With ransomware criminals get money directly from the victim, and at a much higher rate. And while ransomware was once riskier for cybercriminals because it involved direct interaction with the victim and could leave a paper trail, new payment methods like Bitcoin have changed the game. These cryptocurrencies allow cybercriminals to collect payments while remaining completely anonymous. Protect Your Business From Ransomware. First Federal Lakewood takes the threat of ransomware very seriously, and has several solutions in place to help safeguard our system against it. The protocols below can serve as a helpful guide for steps your business should be taking to protect its own system.