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Creating a Budget

A personal budget is a simple step you can take today to put you on the right path to achieving your financial goals.

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Take control of your finances

Whatever your age, financial circumstance or stage of life, a budget will refine your money management skills and give you more control over your finances.

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Why is it important?

  • Save enough money to cover your basic needs and wants.
  • Gain efficient and better control of your assets.
  • Avoid overspending.
  • Reduce financial worries.
  • Reduce debt.
  • Increase your financial knowledge.

Getting Started

We'll assess your financial priorities and match them with your current income and expenses to help you establish a budget that will work comfortably for you and your family.

Find your base

Gather all documents that detail income, expenses or debt. Review bank statements, investment accounts, utility and credit card bills, insurance premiums and tuition.

Record your living expenses

Record everything you spend in a typical month, including food, clothing, entertainment, gas for your car, etc.

Identify your needs and wants

Divide your expenses into two categories, needs and wants. You might start by asking yourself "Can I live without it?" For example, utility bills, health insurance and mortgage payments are essentials, but could you live without your TV streaming service, vacations or dining out?

Create your spending plan

After identifying your true needs, calculate how much money to put toward savings, debt and any items that are above and beyond.

Review and adjust

Review your budget each month. If your monthly expenses are variable or increase permanently, adjust your plan to stay in control of your spending while continuing to work toward your financial goals.

Consider the 50/30/20 model to help you budget your needs, wants and savings, respectively. If your needs exceed 50% of your income, you might have to adjust your wants until you can achieve better balance.

We can help you get there

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Checking Your Way

Whether you prefer online and mobile banking, unlimited debit card transactions or the opportunity to earn interest on your checking account balances, we have you covered. Access fee-free ATMs, chip debit cards, Cardless Cash, Mobile Deposit and Overdraft Services.

LEARN MORE about checking account options
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Savings & Money Market

Be prepared for life’s little surprises with a savings or money market account. Whether you're just starting to save, building an emergency fund or saving for something special, we can help you reach your goals.

LEARN MORE about Savings and Money Market.
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Purpose of Financial Planning

The purpose of a financial plan is to define how your income and assets can provide for a lifetime of happiness. Healthy savings habits, spending discipline and appropriate investments are necessary to meet your goals. But, you need more than just a plan.

LEARN MORE about how we can help you with Financial and Retirement Planning.
Lynn Carlson
Lynn Carlson, VP Consumer Banking Regional Manager, Racine, WI

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No matter what financial needs you may have, we're here for you. Our experienced advisors work closely with you to build the right path to help you achieve your goals.

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