Creating a Budget with Online Banking
Your finances should be a part of your daily life. Having a budget in place empowers you to make conscious efforts to improve your financial situation. To become a successful budgeter, you’ll need to track your finances from a reliable source. With the tools available in our Online & Mobile Banking, you can create a budget in your personal dashboard to help make better financial decisions.
Why You Should Have a Budget
A budget helps you build financial stability by keeping your spending habits under control and following a savings plan. Analyzing your finances to see where you can improve is one of the first steps toward your personal financial goals. Once you have a budget you are confident with, your financial planning doesn’t stop there. It’s important to know how much you are saving with your new budget, continue to identify areas where you can improve, and make adjustments over time.
Our Online Banking Budgeting Solution is Built for You to Succeed
The six widgets listed below are currently available for you to use at your convenience through our Online & Mobile Banking. They can assist you with creating a comprehensive budget by easily accessing specific information about your finances.
- Spending - Displays all existing categories of spending for a specific time period. This allows you to interact with your transactions and categorize them based on your preferences.
- Budgets - Offers you two options for generating a new budget: system-generated and user-created. The system-generated budget is automatically created based on financial data from the past few months. Alternatively, you can manually create specific budget line items you want to track. When the budget is generated, you can see the specific line items in a visual representation.
- Cash Flow - Displays funds transferring in and out of your accounts, helping you project your financial standing.
- Net Worth - Displays your accounts available, both your PSBT accounts and those you’ve added from other institutions.
- Trends - Provides an overview of spending trends over a set time period. This is especially useful if you are tracking a particular spending category, such as dining out, and want a better understanding of your habits over time.
- Debts - Presents your list of liabilities in the system in one central view. It uses the information available to calculate the payoff date of liability accounts. It also shows potential modifications to your payment plan and can suggest an extra payment amount to demonstrate its impact on your timeline for becoming debt-free.