Staying on budget sounds nice. But how? Check out these tips to get started
Tip 1: Follow the 50/30/20 rule. This is a smart, simple way to set up your budget. Start by seeing how much monthly income you have after taxes. You’ll use this amount to determine your budget. Spend 50% of your money on needs like rent, bills, and groceries. Spend 30% on wants. That means restaurants, gym memberships, and streaming subscriptions. Put the remaining 20% toward building up savings and paying down debt.
Tip 2: Check your spending habits. Now that you know how much you should be spending, see where your money has been going. You may be surprised at the results. That free trial you forgot about could be charging you. The time you save ordering takeout might not be worth the price.
Tip 3: Use automated services. Setting a budget is great. Sticking to it is even better. Automated services will help you stay on the path to financial well-being. You have a lot of tools handy with online banking. Make bill payments, build your savings, and receive balance alerts — all automatically. Talk to one of our representatives to get started.