Four Habits of Smart Spending & Saving

by Allison Ryan
Feb 27, 2023

Good habits are the foundation of smart spending and saving. Master these four foundational habits to help get your finances on track and in order.

Jar of Coins Spilling on Table

Automate Your Good Habits

Chances are, you’re already doing more than you think to further your savings goals. Start with the things you do well and automate them so it’s a no brainer! You can help avoid late fees and overdrafts by signing up for online banking.

PRO TIP: You can also sign up for FGB Courtesy Pay Plus or FGB Courtesy Sweep for extra peace of mind.

Know Where Your Money Goes

Spend a few weeks paying attention to where your money is going every day/week. Grab a pen and paper and write it down if you need to! Tracking your expenses helps you understand if you are using your money in line with your values and goals. It can also help you figure out where you can make changes and spend less. 

Identify Ways to Cut Back

Once you have a good idea of where your money is going each day, week, and month, it can be helpful to think about them in three different ways: needs, wants, and obligations. Where can you cut back on spending?

NOTE: Remember, needs are things you must have to live, wants are things you desire but can live without, and obligations are debts you owe.

Typically, people take a look at their “wants” category. What do you want now, but can technically live without?

PRO TIP: Turn that want into a savings goal!

Create a Budget

When creating a budget, you want to make sure that you make one that you can realistically live with AND one that allows you to save (even if just a small amount) every month. Click here to read more about budgeting basics.

Ready to create a budget? Start Now! Click here to read more about how to create a budget and download our FREE Spending and Saving Plan here.

If you can get these four habits down, you could be well on your way to your savings and spending goals!

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