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Modest Finances: Making the Most of Your Money

Sometimes, our finances can play tricks on us.

For example, let’s say you’ve been eyeing a specific item for purchase. You look in your account, and see that you do in fact have the amount you need to buy it. But, if you’re practicing modest finances, this may not actually mean you have the funds to cover it.
The key here is to prioritize purchasing to fit a more reasonable, responsible approach. First and foremost, half of your monthly income should be set aside for obligations like bills. Then the next 20% should go into your savings. Now try looking to see if you have enough for your fun purchase with what’s left over.

Taking Note of Your Expenses

These aren’t the only great tips to undertake when it comes to your finances. A great tactic for following the way of modest finances is to write your spending down on paper. This gives you a quick look at where your money is going. As such, it allows you to hone in on how you allocate what’s in your account.

Next, you’ll want to get a whole figure of how much you’re spending. From there, see how it stacks against how much you’re bringing in. If there’s a discrepancy in the difference, you may want to adopt a more frugal base of decision making.

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Choosing FitnessBank

This can help you chart out a course for your spending that will align more with a modest approach. It’s not always the easiest thing to do. But your best bet here is to trade your impulses for a more disciplined line of thinking.

Looking for quality banking services to aid in your quest for stronger finances? FitnessBank is here for you. We not only offer quality banking services, but we also even reward you for adopting healthier lifestyle choices. Contact us today to learn more.