5 Easy Ways to Improve Your Budget

As the headline suggests, you already have a monthly budget. Like most everything else, there’s always room for improvement. Budgets are not static; they’re dynamic. And so should your budget management style be. You should consistently review where you can make changes. Subtle tweaks here and there can help keep you from a major overhaul.

Here are some tips to consider when reviewing your current budget:

1. Historical Perspective

Obviously, you want to keep your budget moving forward. However, understanding how your budget has performed in the past can help you make better informed decisions in the future. If you’re diligent in tracking how you spend as well as save, trends and benchmarks should emerge, showing you a path to strategic improvements.

2. Leverage New Technology

If you’re still using spreadsheets and ledgers, consider transferring that practice to one of the various online budget platforms and/or mobile apps. Many of these programs have pre-assigned fields for expenditures, as well as tools to customize your own fields. You can immediately input a purchase or set particular purchases to auto-populate if you have your debit card tethered to an app that has the capability. They’re great tools to track discretionary spending.

...Consider larger ticket items that can be replaced with less expensive options...

3. Take a Knife to the Fat

Okay, that’s probably a little dramatic. But slicing and dicing unnecessary expenses from your budget is certainly one way to improve those monthly numbers. Some will suggest cutting back on your daily coffee habit as a way to stay lean. However, maybe consider larger ticket items that can be replaced with less expensive options, like cancelling your cable bill in exchange for streaming programs on your smart TV. It’s still important to live in the moment. Just explore new, less expensive ways to indulge.

4. Make Room for Savings

With every budget, there should be a line item that simply reads: You. That means pay yourself first. One of the best ways to do that is through a Money Market account or a Certificate of Deposit (CD). It’s a great way to position your savings as a top priority. Otherwise, if you wait until the end of the month to put “leftover” money into a savings account, you might discover that your discretionary spending might not allow for saving.

5. Stay Flexible

While you will clearly have consistent bills and expenses to pay each month, there are other considerations that won’t be as constant, constituting a potential financial strain if you don’t factor them into your budget. This can be an unexpected emergency or a large, one-time purchase. A good budget plans for all sorts of contingencies.

Again, your budget is a living, breathing financial creature. You have to be mindful and nurture it in a way that keeps it relevant to your ever-changing needs.

Ready to get started?

Open a checking, savings, money market or CD account in as little as 5 minutes.

Open Account

We're Here To Help. Contact Us.

If you have any questions about our resources, tools or products, please contact us:

Phone Icon

By Phone

Speak to one of our knowledgeable product specialists to get answers or open account.

855-202-8731

Person Icon

In Person

Visit one of our banking center locations or schedule an appointment with a banker.