Building your Budget

1 - Start with your income!

  • You can start with gross or net

    • Gross: income before taxes are taken out

    • Net: income after taxes are taken out

2 - PAY YOURSELF FIRST! Prioritize your savings

  • You work hard for your money! Be sure to put some into savings to use later.

    • You can even open multiple savings accounts to organize your savings! Open a Vacation Savings, a School Supplies Savings, Rainy Day Savings, or just a Regular Savings account! It's up to you.

3 - Committed Obligations (a.k.a.: NEEDS): Rent, Utilities, Car Payment, etc.

4 - Discretionary Spending (a.k.a.: WANTS): Going to the movies, Starbucks, restaurants, etc.

5 - Make sure every dollar is accounted for - Have money left over? Put it into savings!

6 - Reconcile and learn

  • What payments did you not budget enough money for?

    1. Do you have money left over? What will you do with it?

MAKE SMART SPENDING HAIBTS

Money management is essential for making big decisions. A checking account and online banking can help you keep track of your spending habits!

A Chaffey Plus* Checking account can help you manage your money, protect your identity, and provide everyday benefits to enjoy.