So, you've graduated college, got the job, and now have a steady income.  Congrats!  The next step is to begin managing your money by creating your first budget.  A great budget can help you get rid of those pesky loans and credit card bills while also building wealth for yourself.  Your Lincoln Savings Bank contact can personally assist you in creating the budget you need, but here are some helpful steps to start shaping up your first budget.

Groceries are just one part of a new
budget you need to account for.

1. Identify your income and what you have to spend, identify what you currently spend your income on, and identify what you need to spend your income on.  This may take you a while to figure out and can get frustrating, but stick with it!  It will be worth it once your budget is created!
2. Evaluate your long term financial goals and objectives.  Here, you can evaluate what money you have to invest each month to help you build that wealth.  Also, long term evaluation assists you in preparing for retirement and can help you begin to set aside money into a college account for your (future) children.
3. Create an emergency fund.  An emergency fund is like insurance for those unexpected events in life and can help cushion the blow on your monthly budget.  A Lincoln Savings Banker can help you set up your emergency fund by opening a separate savings or money market account.
4. Track!  Once your budget is in full swing, it is important to pay attention to any leakage that you are not accounting for in your budget.  ATM fee's, extra fee's or taxes may creep through and will eventually take its toll on your bank account.  Don't stress yourself out on all the little details, but just be sure you know where your money is going!

Many households in the United States that make $50,000 or less are spending more a year than they actually bring in.  Don't let this be you!  Lincoln Savings Bank can help your manage your money today by helping you create your first budget and by setting up the new accounts you may need.