With so many hands reaching into your pockets these days it can be nearly impossible to save money for a rainy day. People on the internet are inundated with ads and the level of sophistication just keeps increasing. The internet has made it a million times easier to spend your hard earned bucks in the blink of an eye. If you wanted to purchase a book for example, a very popular online seller of books and other items has set it up so that you only have to click your mouse one time and the item is yours. You don’t have to go to shopping cart, verify this and verify that, it’s just one click and done. It’s so easy to buy that by the time your brain catches up to how much you just spent, it’s too late. They have even taken the important step out that confirms the amount of money you’re about to spend. Just one click and done. If saving money could only be that easy.
Making Saving Money Easy
If saving money were easy there’d be a whole lot more millionaires running around everywhere. There must be some way to save money that is relatively painless. So what can you do?
- Make using your credit card difficult: This one’s important. It’s so easy to get and use credit cards there’s gotta be a way to limit your access to your credit. While this may sound extreme, I had a friend who took a plastic bowl, filled it with water and dumped her credit cards in it. If she ever wanted to use plastic to buy something, by the time she thawed out her cards, the compulsion to spend had passed. It may sound extreme, but for some extreme is the only game in town. I’ve heard of others keeping them in a safe deposit box in their local bank. I’d recommend that option.
- Save it before you see it: If you never see the money, it’s a whole lot easier to keep from spending it. Some employers enable their workers to take extra money out of their checks to be directed to a separate checking or savings account. It’s easy to get used to living on a little less each week if you never see the money. Don’t set yourself up for failure though. Start with an amount you know you can live with. Even if it’s only $25 a month, as long as you’re saving it, it’s a win. Success breeds success and the more you save the easier it is to save. As you have successes you can gradually increase the amount you’re saving. If you don’t have direct deposit at work just cash your check and immediately set aside a predetermined amount before you do anything else.
- Credit Card Tricks: Just about everyone has at least one credit card. Credit card companies make their money on the interest they charge you. It’s not about monthly or annual fees; it’s about the interest rate they charge. If you can avoid paying that interest, you’ll save yourself a lot of money. The trick here is to pay off your balance each time before it’s due that way you’ll never be charged any interest. If you can’t pay off your balance, pay more than the minimum payment required. Credit card companies bill you the minimum amount knowing that most people will not pay $60 when they can get away with paying $55. If you pay only the minimum payment you will never pay down your balance and you’ll end up having that high interest card for the rest of your life. That alone will leave you with a little extra in your wallet each month.
Sometimes you do everything right, yet bad things still happen. So what do you do when faced with a problem that your cash reserves cannot cover? If you have a car you may have access to funds you never knew was there. The process to get a title loan is quick and easy. If you have a car that’s free and clear, that means you have paid it off and don’t owe any more money, then most likely you can get a title loan. All you have to do is go to your nearest title loan company with your car and fill out a simple 5 minute application. While you’re filling out the application a representative from the title company will inspect your car and determine how much money they can loan you. That amount is a combination of your need, the value of your car, and what is allowed by state law. You’ll need to show some form of income such as a paystub from work, or if unemployed, an annuity, disability, or unemployment; just to show you have a way to pay off the loan. Bring your state or government ID like a driver’s license, and the title to your automobile. Most people are able to walk in and walk out with money in hand within 30 minutes. If you have poor credit no problem. Title companies know you’re in a tight spot. They also know that if you had good credit you’d be at your bank. For that reason they have streamlined the loan process so that you can get a loan fast and without a lot of hassles that your bank would put you through.
More Cash When You Need It
If you have a problem that a simple payday loan cannot cover and you need between $1,500 and $10,000 think automobile title loans; it may be the difference between paying your mortgage on time and a notice of foreclosure. Do your best to save for a rainy day, but if a time comes where you need more than you have saved, think title loan, you’ll be glad you did.
written by: Joshua Barnes
Joshua Barnes is a professional blogger and writes for Settlement Exchange.
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