Planning & budgeting

Planning & Budgeting

A good financial plan will keep you ahead of your bills, help you make smart financial decisions, and better prepare you for tomorrow. From managing day-to-day expenses to long-term financial planning, Andover Bank is in your corner, with insight and guidance to help you through.


Saving for a fruitful retirement. Paying down debt. Investing for the future. No matter your financial aspirations, you’ll need a knowledgeable partner with a plan to guide you through the ins and outs. Turn to Andover Bank to help you understand your finances, chart a manageable plan, and set attainable goals.
Get in touch with a financial planner today.


Understanding your finances is one of the most important things you can do to keep your day-to-day stress free, prepare for the unexpected, and position yourself for a bright tomorrow. Getting organized takes some work, but Andover Bank has your back, with budgeting tools that help you get - and stay - ahead of expenses and allow flexibility for investment in your financial goals.

Here are a few steps to get started:

  1. Understand your income, responsibilities, and spending. Consider capturing this in a spreadsheet or online tool to understand which bills are due when, and how much money you have left for fun or savings each paycheck. Track your discretionary spending for entertainment and meals for one to three weeks to understand the impact of these decisions.  Online and Mobile Banking are great tools to help you manage your money.
  2. Create a realistic plan and stick to it. Use what you learned by tracking your spending to find ways to tame discretionary spending or uncover savings. Your plan should still include funds for entertainment, but make sure you’re sticking to your limit.
  3. Automate bill payments with Andover Bank online bill pay. Take the stress out of managing due dates, stamps, and envelopes. Plus, save time and money with one simple-to-use payment tool for all bills.
  4. Track and reassess. Maintaining a budget is an ongoing effort. Be sure to continuously track and adjust when needed.

Other tips

  • Life happens. Forgive yourself for straying from the plan and turn your focus on getting back on track.
  • Use direct deposit to build a savings account. You’ll be less tempted to spend savings account funds if they’ve been automatically tucked away.
  • Aiming to pay down debt? Prioritize establishing an emergency fund first, and then tackle debt repayment. A safety net will ensure you’re prepared to pay cash for unexpected expenses, instead of diving deeper into debt.
  • Incentivise yourself. If you’re working hard and sticking to your goals, be sure to reward your persistence and discipline with a reward of your choosing.

Always remember, we’re here to help. We’ll gladly sit down with you one-on-one and discuss strategies to help you budget, manage, and create a plan for your money.