woman applying for title loan at home

Budget Mistakes That Even Smart People Make – and How to Fix Them

We all understand the importance of having a monthly budget. Most of us have even attempted to create one several times—and then gave up after a few months. Why is it so hard to make a budget that really works? If you’re struggling, don’t give up! Just avoid these common budget mistakes, so you can create a financial plan that is reasonable, easy to follow, and ultimately, successful. And, if push comes to shove and you find yourself in need of fast emergency cash, At Home Title Loans will be here for you.

You Don’t Put Your Budget on Paper

You need to put your budget in writing—whether it’s in a spreadsheet, a money management app, or a piece of paper. Here’s why:

  • You’re more likely to keep it: Studies show that writing any goal can help make it more real and concrete, and also make you feel more accountable. It’s like you’re signing a contract with yourself.
  • You can compare the target budget with real costs: Every month, write down your costs and see if you were able to stay within your budget. You’ll be able to spot the “leaks” in your budget (for example, you’re always overspending on food) and make the necessary changes. Or, you may realize that your budget is unrealistic, and you can adjust it so it reflects the actual cost of living.
  • You can see your progress: It’s very satisfying to look at your financial spending over several months and see real progress: your expenses have gone down, your savings are growing, and you feel more in control over your finances.

You Don’t Account for Seasonal Fluctuations

You may have a general monthly budget but let’s face it: your expenses can rise during certain times of the year. You may need to buy books and school supplies at the start of the school year, or buy gifts on birthdays and the holidays. In the hot summer months, you may spend more on air conditioning. If you’re a business owner or a freelancer, you may also see fluctuations in income: there are some months when you earn more or earn less.

Account these seasonal changes into your monthly budget, and try to set aside money to tide you through the times when you have more expenses and less money coming in.

Your Changes are Too Drastic

Changing your budget is a lot like changing your diet: it’s harder to stick to it if you set your expectations too high. If you used to spend $600 on groceries and then slash it to just $250, you’re simply setting yourself up for failure.

Make small but steady changes—lowering it to $500, then $400. Find out what’s a realistic threshold for you, so you don’t feel overwhelmed or deprived by the drastic change.

You Don’t Record Daily Expenses

You need to write down your expenses every day. Use a small notebook or jot it down in an app or your phone notepad. You may be surprised at how the little expenses you often forget (like your frequent Frappuccino’s or cab fares) can add up over the weeks.

You Don’t Work as a Team With Your Partner

Did you know that money problems are the leading cause of arguments among couples? “I set a budget, but my partner won’t follow it!” or “My partner’s budget is too unreasonable!” If you’re in a relationship, you need to work on your budget together. Discuss your financial goals, agree on how to divide expenses, and find a way to track your expenses. For example, you can use an app that you can both update in real-time. That’s really useful for spotting overspending in categories where both of you make purchases—like groceries, gas, or dining and entertainment.

You Don’t Have “Fun Money”

If you don’t set aside some of your money for yourself, then you’ll start to feel resentful and deprived. You’re more likely to make an impulse purchase, and then blow your entire budget on something you didn’t really want that much.

Give yourself a personal allowance that you can use to reward yourself. You can decide whether or not to use it for regular treats, or save it for a major purchase.

You Don’t Have an Emergency Fund

You know the saying, “Life is what happens when you’re making other plans.” Sometimes, despite all the budgeting and planning, you suddenly find yourself in a bind. You need to raise money quickly, and you’re not in a position to borrow that money from a bank or from family or friends.

One very convenient option is to get online title loans. Title loans let you use your vehicle as collateral in order to secure up to $15,000 on an emergency loan. That can be a car, truck, motorcycle, SUV, or RV. As long as it’s in your name, you can use it to raise emergency cash, fast.

At Home Title Loans

Benefits of Title Loans

  • Anyone with a vehicle can get one. Title loans don’t require you to have a high credit rating to secure one.
  • Easy to process. You don’t have to jump through many hoops to secure one. You just need to present the title, your driver’s license, and a blank check to your bank for the direct deposit.
  • Convenient. Get a loan from the comfort of your home. Don’t worry about searching for completely online title loans. We make it easy for you to secure your money remotely by just filling out an online form after which you’ll receive a phone call to finalize the information.
  • You still get to use your vehicle. You keep and operate your car as you normally would.

  Couple checking for at home title loans

How to Secure Your Easy Online Title Loan

  • Step 1: Fill out your form on the At Home Title Loan home page.
  • Step 2: Receive a call from a loan representative who will finalize the information.
  • Step 3: Receive your money. It will be deposited directly into your bank account.

Fixing your budget takes time and, in the event of an emergency where you need fast money now, online title loans, no store visit is an option for you when other options fail.

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

Mason Roberts

Mason Roberts is a seasoned economics writer and blogger with a knack for breaking down and simply communicating the ever-changing world of finance. He is philosophically committed to the premise that financial knowledge equals financial freedom.