At LNB, we understand how vital finances are in everyone’s daily life. Whether our Free Rewards Saver account works for you, or you are looking for something more like our Premium Money Market Account, we offer several types of savings accounts to ensure your money stays safe, while earning interest as well. We know you work hard for your money, and one easy way to help you save is to set a personal budget. Read below for some tips on creating one that works for you!

Determine Long Term Goals: While making a budget is great for day-to-day spending, it is also important to have long-term goals in mind. If you know what you are saving for in the future, whether it be a new home, a big move, or retirement, having your goal in mind will make the whole budget-creating process easier.

Know How Much Money You Have and Owe, and Where It Is: Of course you will need to know how much you make. Salary-based employment will be easier to figure out than an hourly-wage or part-time job, but having at least a monthly estimate is necessary. Then, you will need to add up how much you have in checking and savings accounts, retirement funds, etc. including interest and maintenance fees. After you add all of this, subtract your monthly payments and you will have a bottom line number, which tells you whether you are overspending or underspending.

Stick to It: Once your have your bottom line number, you can better decide how much to budget toward groceries and gas, entertainment, savings and etc. every month. Sticking to a designated budget can be difficult, and like life, it is not going to an exact science every month, but it is a good way to help you save money.

For more information about LNB’s Saving Account offerings, stop into one of our local branches today!