Login

Forgot User ID
405.235.3030 or 800.678.5363


A variety of accounts to suit your needs.

Open a WEOKIE account online and see why managing your finances couldn't be easier.

Open An Account Today

     

    Low Rates. Great Service.

    Apply for an Auto Loan without ever stepping foot in a branch.

    Apply Now! View Rates

    Auto Loan Payment Calculator

    Make A Payment

       

      WEOKIE: your one-stop-shop for everything homes!

      From finding the home of your dreams to financing it, closing the loan, and even insuring it... we want to make every step in your home-buying experience as easy and as affordable as possible.

      Apply Online    Home Loan Rates

         

        Lending a hand when you need it

        From auto loans to refinancing a mortgage, WEOKIE has the resources and tools to create a lending program tailored to your needs. 

        Apply Online    

        View RatesMake A Payment

          COMMERCIAL LOANS

          Commercial Loans

             

            Easy and convenient banking.

            WEOKIE's e-Statements, Bill Pay, and Online and Mobile Banking are services aimed to make your life a little easier.

            Log In Now

               

              We are here to help.

              At WEOKIE, our purpose is to build strong communities by supporting financial growth and well-being, one person at a time.

                3 min read

                How To Create A Budget

                Featured Image

                Once you’ve decided it’s time to create a budget, or get back on track with an updated spending plan, you’ll have more than a few options to choose from. You can go old school and use notebooks, or spreadsheets to stay organized, or you can grab your laptop, phone or tablet and investigate budgeting apps. All of these can be effective ways to keep track of your spending and saving as you begin the extremely satisfying journey of telling your money what to do every month.

                 

                The best thing about a budget is that it’s flexible enough that it can be tweaked to fit your individual needs from month to month. The important thing is that sticking with whatever method you choose brings more awareness to your financial life, offering a realistic picture of how much is coming into and leaving your accounts month-to-month.

                 

                Choosing a Budget Method

                Budgeting methods are not one-size-fits-all. For example, people who consistently spend less than they earn, and who already have an emergency fund and retirement accounts, will likely need a different method of budgeting than someone who is just getting started. Those of us who are still striving to take control of our finances so we can whittle away at credit card debt and build up an emergency cushion will likely want to start with a more basic budget. Here are a few approaches to consider:

                 

                The Backwards Budget

                The Backwards Budget has three steps. First, save for your goals in a dedicated savings account or investment account (or accounts). Second, pay for your needs: Rent, groceries, internet, cell phone bill, student loans, etc. And third, enjoy anything in the “wants” category with whatever money you have left over — dinners out, vacations, new clothing, the sky’s the limit because you chose to take care of your top two life priorities first.

                 

                The Zero-Sum Budget

                If you like equations that work out just right, zero-sum budgeting might be right for you. With this budget, you essentially subtract every dollar you spend or save from your starting amount of take-home pay. That means you’re in charge of finding a specific purpose for every single dollar you earn, (whether it’s rent, a savings account, your investment portfolio or dinner out) and at the end of each month, you’ll total everything up and find that every single cent has a home. So if you started with $2,000 at the beginning of the month, you’d be left with $0.00 unaccounted for by the time the 31st rolls around, hence the name.

                 

                The 50/30/20 budget

                This budget is similar to the others in that you’re thinking about how the three most important categories of your budget — needs, savings, and wants — will be covered. But this budget assigns an exact percentage of your earnings to each category, which is how it gets its name like this: Needs (50%), Wants (30%), Savings (20%). It’s okay if you’re off by a few dollars every month — the goal here is that you’re thinking about each category of your budget, and as long as you stay in line with your bigger goals, then you’re doing great!

                Sticking to the Budget

                Whichever budget you choose, sticking to it is no easy task — but it is an enormously satisfying one. Telling your money where to go each month gives you feelings of control, power and independence. All the good stuff. Start by tracking your spending for a month or two… And then? We’ve got five suggestions to help you nail it here!

                Finally, for those who prefer the ease that technology offers, there is a plethora of mobile apps and budgeting software to help manage your finances. You can use these with the budgeting techniques mentioned above, or on their own. Nerdwallet named eight companies to its list of best budget apps in 2022. For most of these, the app can connect with financial accounts, plus categorize and track spending. In mid-2022 all of the apps listed had at least 4.5 stars out of 5 in the iOS App Store or on Google Play, and at least 1,000 reviews, notes Nerdwallet. They are: Mint, YNAB, Goodbudget, EveryDollar, Personal Capital, PocketGuard, Honeydue and Fudget.

                Related Posts

                How Much Does It Cost To Raise A Child? How Parenthood Changes Your Finances


                Having a child turns your world upside down (in the best way), and forces you to rethink nearly every aspect of your life…including your finances. If...

                The Best Money Moves To Make When Starting A New Job


                If you’ve just started a new job, or you’re new to earning an income, congrats! You may be intimidated by the idea of finally getting your finances...

                Why You Need A Budget


                Let’s be honest. The majority of Americans — 60% — don’t know how much money they spend in a month. They also have little idea where their money...

                The Best End-Of-Year Money Moves To Make


                As 2023 draws to a close, it’s time to get our financial lives in order for the New Year so we can kick-start 2024 with as little financial stress as...