Tag Archives: budgeting

Scary Spending that is Shrinking Your Wallet

credit card and dollar close-up

Small expenditures are adding up and creating financial stress for many Americans. Don’t be one of them.


Both wealthy and working class Americans are unknowingly blowing surprising amounts of money every year in a variety of ways. Fees, indulgences, and a variety of small behaviors cause us to waste money and create bad habits. These are just a few of the most popular things that Americans are blowing their money on.

  1. Wasted food – According to the National Resources Defense Council, each American wastes about $529 each year by throwing out unwanted food.
  2. Expedited shipping – Paying the extra few dollars to get your purchases faster is a habit that can quickly add up.
  3. Tobacco – Americans spend an average of 14 percent of their income on cigarettes. That is about one-seventh of their total income! This number only increases in states where tobacco taxes are higher than average.
  4. Daily coffee trips – A survey conducted by Accounting Principals concluded that Americans who regularly buy coffee during the week spend an average of $1,092 on coffee each year.
  5. Poor health habits – Junk food like soda and candy not only lower your quality of health but they are also non-beneficial and costly. The National Retail Federation claims that Americans spend $2 million on candy during the weeks leading up to Halloween alone.
  6. ATM fees – While different bank ATM fees are unavoidable at times, it is still a good idea to know the average cost that comes with this convenience so you can prepare ahead. If you are in a crunch, many convenience stores will allow you to use a cash back option when you make a small purchase.

Do any of these expenses sound familiar?
Even the smallest cutbacks could save you money and ease your financial stress. Make it a challenge! Pick one item to try and cut back on this month. The savings might surprise you!
Milledgeville State Bank can help by offering various accounts to make your savings work for you. Start a conversation with us to find the right one for you!

Create a Budget Today in 5 Easy Steps

Make your own budget by following these 5 easy steps
“A budget is telling your money where to go, instead of wondering where it went.”
A quote by Dave Ramsey suggests creating a budget can be helpful in controlling your finances before you end up in trouble. The best way to avoid a pile of debt is to be proactive. By knowing where your money is coming from and going to, you will have an idea of what is available and where changes need to be made.
Milledgeville State Bank encourages you to be financially responsible and create a budget to better manage your finances. Here we have provided 5 steps for creating a budget we hope you can incorporate into your life this month and in months to come. Milledgeville State Bank is here to provide you with financial assistance from loans, IRAs, savings accounts, credit cards, and more. Visit our site and contact us today!

  1. The first step to creating a budget is to gather all documents containing financial information. This includes bank statements, bills, and any documentation of income or payments. The more you can find the better.
  2. Record all sources of income. This may be from a full time job, part time job, or selling items on ebay. Wherever your money is coming from, write it down and how much you take in.
  3. Write down all expenses, from bills, gas, food, entertainment, memberships, and anything else that costs money.  You may quickly discover where all your money is going without even realizing it.
  4. Break the expenses into fixed and variable categories. Fixed expenses cannot change and are necessary to live, while variable expenses can adjust to help make ends meet.
  5. Total monthly income and expenses and find the difference between both of them. If income in greater then expenses, you are doing well and can start to save or pay off debt. However, if expenses are more than income, you may want to make some adjustments to live more comfortably. This is where your variable expenses may have to change.

Milledgeville State Bank understands life is busy, however, we encourage you to take time and create a budget to organize your finances. You may find peace of mind knowing where your money is coming from and going too without having to worry about falling into trouble. Contact Milledgeville State Bank or stop by today for financial services to meet your needs.