- onlinesupport@myaffinitybank.com
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- Local: 678-742-9990
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- Auto Loan Payment
- onlinesupport@myaffinitybank.com
- M-F 9:00 - 4:00 ET
- Local: 678-742-9990
- Toll Free: 866-736-8194
- Auto Loan Payment
A huge drawback when it comes to managing a budget is failing to have one in the first place.
Many often spend money day to day without tracking where these funds are going. Sure, this can be the case for large purchases. But it’s those minute, daily purchases that can mean the difference between a healthy portfolio and an unhealthy one.
Little things like eating out, gaming, in-app purchases, etc., can feel like small potatoes at the time. But if you were to place these expenditures on a chart, you’ll notice that over time, they begin to pile up. A dollar here, six dollars there, etc., over the span of a month can add up to the equivalent of a bill. That’s why managing a budget is important.
Making the Best Use of Your Income
To better police this spending, first, take a look at your income. Divide into reasonable sections. You have your overall income, which is what you make prior to taxes and such. Then there’s what you’re netting, which is the figure after the aforementioned fees are taken out.
This latter figure is what you’ll use to prioritize bill payments. These are all your non-negotiables, which we detail a bit further in our previous entry. Once this is taken care of, now you can start to branch out into your less important expenses.
Why To Choose Affinity Bank
Try splitting your net income up into percentages based on what’s important. An ideal place to be is spending half of what you take home on your bills. Then, take 20% of it and put it away for a rainy day. The remaining 30% can go towards those purchases that aren’t necessary, but still bring your joy. Because as we all likely know, life is about balance.
Speaking of balance, you can trust your finances in our hands. Affinity Bank offers a range of banking services that keep your finances in safe, easy to reach place. Contact us today to learn more.
