Become a budgeting pro in no time at all by following these steps.
1. Determine your goals.
Sit down to determine both long-term and short-term goals. When you budget with a specific purpose, you will quickly get to your destination.
2. Analyze your current spending.
Categorize your spending by food, utilities, insurance, medical bills, childcare, after-school activities, etc., and then think of how to make realistic changes.
3. Plan for your goals by putting them in your budget.
Listing your goals as expense items in your current budget will help you reach your goals every month while staying within budget.
4. Be flexible, keep track, and always make savings part of your budget.
Try to create a realistic, flexible budget that will work for you. Keep your goals in mind every time you use your debit card. Unexpected expenses will happen, so be prepared with an existing emergency fund.
More Budgeting Tips
- Set up reminders and account alerts with Mobile and Online Banking. Mobile carrier fees may apply.
- Use a calendar to consistently make payments on time.
- Look for ways to cut back on unnecessary expenses. Pack your lunch a few days a week instead of eating out daily. Reconsider any subscription services you may not be using.
- Check your account activity frequently while keeping a record of all your recent transactions.