- onlinesupport@myaffinitybank.com
- MON--FRI 9:00 - 4:00 ET
- Local: 678-742-9990
- Toll Free: 866-736-8194
- 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
As we've discussed previously, creating a budget is so very necessary for eliminating common financial stresses.
As such, it’s good to plan ahead by having a solid budget plan in place. The first step is knowing what to spend your money on. Try separating your costs into two distinct categories: what’s necessary, and what’s a desire. While the two can intersect, they are rarely mutually exclusive.
In a perfect world, we’d only spend on necessities. But at Affinity Bank, we understand that a life worth living is one that you can enjoy! All that means is that you’ll need to be more intentional when budgeting out your finances.
NEEDS VS. WANTS
So what’s the difference between a need and want? It’s quite simple, on the whole. Things like your bills (rent, groceries, etc.) are what we call non-negotiables. You need these to sustain your quality of life. And not to mention, failing to pay some of these on time can obliterate vital resources like your credit.
On the other hand, wants can be fun, but are not at all necessary on a regular basis. This would include eating at your favorite restaurant, buying that new car you’ve been eyeing, some new piece of technology that you can’t write off, and so on. The answer here is to focus on your needs and savings first, and use what’s left over on your wants.
Affinity Bank
Your greatest virtue in this regard is your patience. When you see money in your account, it can feel like you have what you need for instant gratification. But exercising restraint and good judgment will ultimately serve you better in the long run.
The beauty of these circumstances is that you don’t have to face them alone. There are a ton of resources available that can help in your quest to secure stronger finances. There are even several apps that help to automate the process. And last but not least, there’s Affinity Bank. Contact us today to learn more.
