A system and method of dynamically allocating signal acquisition bandwidth in magnetic resonance imaging systems. The use of high spatial and high spectral resolution in MRI imaging can improve the clinical usefulness of the images. However, during uptake and washout of contrast agents, the use of high spatial and high spectral resolution results in important information being missed. Dynamic allocation of MRI signal acquisition bandwidth allows the use of high temporal resolution during contrast agent uptake and washout and high spatial and spectral resolution during periods of slower morphology resulting in images containing additional data than in conventional MRI protocols.