In these tough economic times, it is more important than ever for families to develop a budget and stick to it. Rainy-day funds, savings for college, or just making your rent payment can all be made easier with a budget. American Trust supports its clients’ efforts to budget and save by offering expert guidance.

A financial goal can be very motivating. Whether you are saving for a family vacation, a down payment for a house or a new car, if you stick to a plan, you’re likely to achieve your goal.

Putting together a household budget requires time and effort. American Trust offers the following steps to create a budget:
Track every penny you spend for a month. Keep receipts and write everything down. This will be an eye-opening experience and will help you see where you can cut back.
Determine the total amount of money coming in. Include only your take home pay (your salary minus taxes and deductions). Your income may also include tips, child support, investment income, etc.
Review the records and receipts you’ve been collecting over the last month. Categorize your spending using a budget.
Set a realistic financial goal and develop your budget to achieve that goal. Subtract your monthly expenses from your monthly income. Find ways to cut spending and set limits on things like entertainment expenses.
Make one of your financial goals to save a certain dollar amount each month. Start an emergency fund if you don’t already have one. You never know when you may need it.
Keep track of your spending every month. Update your budget as expenses or incomes change. Once you achieve your financial goal, set another.

Make life more rewarding with RewardChecking and RewardSavings from American Trust. Save more with two great rates and ATM rebates up to $25. Each month your checking interest and ATM rebates are automatically transferred to your savings where you earn interest again.

American Trust
www.americantrust.com