Sign On
  • Online Banking
    Sign On Form is Loading

So now you're over a month into the new year, and one of your main resolutions was to save more money. Money to put into your child's college fund, to stash away for a down payment on a home, to buy that new car you know you'll need soon – you name the reason why.

If you want things to go smoothly, first you need to know how to make a budget. Here are some tips that could help you along the path to saving this year and beyond. Even if it wasn't a resolution, it's never too late to start.

Start From the Start

Consider adopting a financial wellness app to help you understand the basics of creating a budget and carefully track your progress. It can help you to easily add up your total monthly income after taxes and deductions, so you know your take home pay. It also allows you to easily add expenses, including mortgage and rent, utilities, food costs, transportation costs and any other recurring payments (student loans, day care, etc.). Creating a budget helps you understand how much money you have and need to meet your monthly expenses, pay down debt and build your long-term savings.

Save Where You Can

Take a careful look at each of your expenses to see if there's a quick way to cut any costs. For example, if you aren't using that expensive gym membership, cancel it and look for other fitness options. Do you think you're spending too much on food? Reduce your food expenses by meal planning around weekly sales or getting serious about coupons. Cut costs on your phone bill by asking your provider about different plans.

Track Your Spending

Once you learn how to make a budget, remember to update it as your income and expenses change. Be on the lookout for ways to shave money off your expenses, as well as opportunities to make more money. By tracking your spending you'll be better able to pinpoint your weak points when it comes to sticking to your budget. Soon you'll be well on your way to meeting your savings goals.

As the months go by, you may start to see spending patterns you didn't see before – patterns you could take action on by trimming here or there.

Each week, check your app to understand the money you've saved by cutting costs and saving with purpose. A budget only helps if you stick to it, so by relying on technology to help you stay true to your goals, you should be able keep your new savings plan going all year-round.

This information and recommendations contained herein is compiled from sources deemed reliable, but is not represented to be accurate or complete. In providing this information, neither KeyBank nor its affiliates are acting as your agent or is offering any tax, accounting, or legal advice.

By selecting any external link on, you will leave the KeyBank website and jump to an unaffiliated third-party website that may offer a different privacy policy and level of security. The third party is responsible for website content and system availability. KeyBank does not offer, endorse, recommend or guarantee any product or service available on that entity's website.

Call Us

1-800-KEY2YOU® (539-2968)

Clients using a TDD/TTY device:

Clients using a relay service:

Schedule an Appointment

Talk to a Branch Manager in your neighborhood.

Schedule an appointment now

Find a Branch or ATM