Recent Articles


Tips, advice, and the latest news from the savings world.

How to Create a Budget

Written by Super User · 01 May 2012

May 1, 2012

By Debra Taylor, Senior Vice President and Regional Manager, Union Bank, N.A.

Creating a budget can be a fun, empowering process that can help you crystallize your financial goals and help you stay on track to achieve them.

First, it is important to determine your short- and long-term goals. Short-term goals include taking a special vacation or creating a cash reserve for unexpected expenses. Long-term goals may include building a retirement nest egg, achieving financial freedom and creating wealth to pass on to your heirs. Paying off debt is another important goal to consider.

Next, collect your pay stubs, cash receipts and tax, bank, credit card and investment account statements and record your monthly income and expenses in two separate columns. Your expenses can be categorized as fixed -- unchanging expenses such as car payment and mortgage or rent, and variable -- changing expenses such as groceries, utilities and gasoline. Since your variable expenses differ each month, determine the average cost for each and insert the amount into your expenditures column.

Tally your income and expense columns to determine where you stand financially at the end of the month. Do you have more in your expense column or income column? If your income column exceeds your expense column, consider allocating the extra money toward the priorities you established when setting your goals. These may include reducing debt and saving more.

If your expenses exceed your income, review your spending habits with a critical eye. Determine which items are truly “needs” versus those that may fall under the category of “wants” (entertainment, dining and gifts). Trim the nonessentials until you can create a budget that incorporates your goals without leaving you in the red each month.

Once your budget is complete, consider these tips to help you maintain your goals:

  • Revisit your budget. Don’t hesitate to review your budget monthly to determine if your finances are in line with your financial goals and if you are spending more than anticipated. If so, refine your budget and find new ways to cut costs. Reviewing your budget regularly will create a good habit that will serve you well during better times.
  • Get creative. If you find that you don’t have many “wants” that can be trimmed from your budget, consider getting creative with items that fall under the “needs” category. Consider saving on groceries with coupons, buying generic brands and bargain hunting for discounted necessity items.
  • Be flexible. If your budgeting plan needs reworking, consider using personal finance software specifically designed for budgeting or consulting with a certified public accountant or a trusted financial advisor.

Creating a budget is vital in helping you really understand where you are spending your money and how you can properly manage your finances and plan for the future.

The foregoing article is intended to provide general information about budgeting and is not considered financial or tax advice from Union Bank.  Please consult your financial or tax advisor.

Debra Taylor is a senior vice president and regional manager for Union Bank, N.A.  Union Bank, N.A., is a full-service commercial bank providing an array of financial services to individuals, small businesses, middle-market companies, and major corporations. The bank operates 407 branches in California, Washington, Oregon, Texas, New York and Illinois, as well as two international offices. UnionBanCal Corporation is a wholly-owned subsidiary of The Bank of Tokyo-Mitsubishi UFJ, Ltd., which is a subsidiary of Mitsubishi UFJ Financial Group, Inc. Union Bank is a proud member of the Mitsubishi UFJ Financial Group (MUFG, NYSE:MTU), one of the world’s largest financial organizations. Visit for more information.

See Previous Stories

We Want to Hear from You: Final Day to Take the Survey

Written by Super User · 30 April 2012

April 30, 2012

By Katie Bryan, America Save communications manager

Today is the last day you can take the America Saves survey or the America Saves Week reporting survey.

For Individuals

Thank you so much for being part of the America Saves community. We want to continue to help you reach your savings goals. Please take a few minutes, right now, to complete our survey. Your participation will help us provide you with the advice and materials you, our growing community of America Saves members, want and need. All responses are confidential and the survey should take less than 5 minutes to complete.

Take the Individual Saver Survey Now

For Organizations

The America Saves Week 2012 reporting survey closes TODAY and we want to hear from you. Whether your organization's participation was large or small, please let us know what you did. From hosting a Week-long savings fair to simply posting the dates, it doesn't matter when it comes to filling out the survey!

Take the ASW 2012 Organization Survey Now

Three lucky winners will receive a $25 gift card (to Starbucks or Staples), chosen at random from those who complete this survey!

The survey usually takes less than 10 minutes to complete. Before you begin, if you have questions about how to estimate the size of the audiences you reached, consult the Audience Estimating Tip Sheet.

Take the Pledge

I pledge to save money, reduce debt, and build wealth over time. I will encourage my family and friends to do the same

Take the America Saves Pledge

Tip of the Day

  • Written by Katie Bryan | November 27, 2013

    Take control of #saving & #spending during the #holidays - create a holiday budget!

Saver Stories View all »

Developing a Savings "Game Plan"

Written by Katie Bryan | October 28, 2013

Eunice Diaz, a teacher in Colorado Springs, had been noticing a pattern. Despite the fact that she and her husband were “making good money,” they were spending their entire earnings and “were still struggling at the end of the month.”


Jump-Starting a Financial Makeover

Written by Katie Bryan | October 28, 2013

Nichelle Johnson, a single mom with two teenage children, knows what it’s like to stretch a dollar. When she moved back to Virginia Beach in 2008, she provided for her family with just a part-time library position.


Taking Steps Toward Financial Fitness

Written by Tammy G. Bruzon | November 7, 2014

Nicky Vasquez learned about Virginia Saves when she attended her first class with Bank On Virginia Beach. The instructor shared how important it was to have a written savings goal, and the entire class joined Virginia Saves as the first step toward financial fitness.


Receive Updates

Sign up for Texts

Written by Tammy G. Bruzon | July 15, 2014

Sign Up

Sign up for Emails

Written by Super User | September 16, 2013

Get Emails

Take the Pledge

Written by Super User | September 16, 2013

Start Saving