woman researching home title loans

Avoid These Top 5 Budget Breakers

Is your spending going overboard for your monthly income? Is your savings account completely empty? If you haven’t been keeping a check on your money, you might not even be left with enough money for basic utilities near the end of the month, let alone stocking up your savings for snowy days and emergencies. This is a big mistake, and you are certainly inviting trouble for the future. Do you know how much experts recommend you should maintain in your emergency savings? At least enough to tie you over for 3 – 6 months.

Some of us might not even have a few weeks' worth of savings! This is when you know you need a strict budgeting plan, but many people find it hard to follow a budget and end up blowing their paychecks as soon as they get them. This is because they might be making some of these budget-breaking mistakes. We’ll also cover how you can get money in a pinch by applying for online title loans.

Top 5 Budget Breakers

1. Not Maintaining an Emergency Fund

If you’re making a budget with a goal to just get you through the month, that’s a very poor strategy. Just enough is not enough. You need some wiggle room. Some day or another, an extra expense will come up or an emergency will happen. What if you lose your job? What if your car or something around the house breaks down and needs an emergency repair? You need to be saving on your budget, even if it is a little at first. Start with less and keep incrementing it.

So you need to maintain an emergency fund and you can do this by automating an amount of your paycheck to immediately go into your savings account. Plan your budget with long-term goals and foresightedness.

2. Not Writing it Down

If you are estimating your budget in your head, it won’t work out well. You need accurate figures. Collect all your bills and old payment records to calculate an actual figure for your total expenditure. Write down the things you spend on. If you don’t write it down in a notebook, use a budgeting app on your phone.

3. Not Keeping Track of the Small Things

Every expense you make, big or small, has a big impact on your budget and you should keep track of it. It might not seem like much at the time. A cup of coffee every day might not look like something to add to your spending list. But total that for 365 days a year and you’ll see how much it adds up to!

4. Splurging on Luxuries

If you are on a budget feel free to cut out some luxuries. Cancel your expensive gym memberships and other subscriptions that you can do without. Look for alternative methods of fitness. You can find many workouts that you can do at home online! Similarly, limit the number of times you dine out a month, get a takeaway, or order food from outside. Get into the habit of home-cooked meals. Switch to a no-contract or a pre-paid mobile subscription package, so that you only pay for as much as you really need.

Remember, everything you cut out now can be added back in later when your finances are more secure!

5. Being Careless with Payments

Pay off every bill and debt on time. Set reminders so that you don’t miss the deadline. Pay off your credit card balance each month. Consider what insurance you actually need and if you need to switch to a different plan which is more affordable.

Be wary of all these budget breakers and start saving consciously. But fixing a budget takes time and, in the event of an emergency, you can always rely on title loans to access the cash you need in a pinch. Here’s how they work.

At Home Title Loans

Title loans are a short-term emergency loan wherein you can leverage the value of a title you own in order to access up to $15,000. When other loan options aren’t available to you, car title loans can be easily obtained for several reasons:

  • Your credit score doesn’t matter. Because title loans are based on the value of your title, a credit check won’t be conducted to determine your eligibility.
  • These are completely online title loans that can be completed in under 30 minutes. No store visit is required.
  • 100% disclosure. We take the time to make sure you’re comfortable with the process and understand how everything works.
  • The money is deposited directly into your bank account.
  • There’s minimal paperwork required. We understand that, when you need an emergency loan, you don’t have a lot of time to spare which is why we’ve made the process as simple and streamlined as possible. Here’s what it looks like:
    • You fill out a short form found on the At Home Title Loans home page.
    • A representative will contact you to review your information. You’ll have to supply your driver’s license, the title to your vehicle, and a blank check to your bank account.
    • Once you’re comfortable with the process, the funds will be deposited into your bank account.

  man speaking about home title loans

At Home Title Loans – The Bottom Line

Fixing your budget takes time and, even if you avoid these budget breakers and start putting money aside in your emergency fund, affording expensive emergencies can be difficult. That’s why we make your search for finding car title loans completely online easy. Thanks to our process, you’re never far from fast emergency relief.

 

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Louis Tully

Louis Tully is a full-time finance writer offering financial expertise to everyday consumers. He understands the core values of finance and used his writing talents to share his own experiences with money to his readers. His articles teach how financial failures can easily become successes by making new habits and creating realistic goals.