A budgeting plan can keep you out of the Alabama Title Loans, Inc. offices.

Our products are specifically designed to help people who are in a tight spot financially. Budgeting helps you prepare for the future and be ready for unexpected expenses. But even with the most precise planning, you still may find yourself in need of an Alabama payday advance from time to time.

If you want to keep up with your spending better but have no idea how to start, check out the tips below.

How A Budget Works

A basic budget tracks your income and expenses but can do much more. The right budgeting plan will catch temporary overspending, alert you to problems like water leaks, and help you avoid lifestyle creep.

The main purpose, though, is to make sure you have enough money to pay your bills and meet your family’s needs each month. These common expenses include:

• Groceries
• Activities
• Entertainment
• Annual fees

A budget also helps you visualize how much you have to save for emergencies and long-range plans like a big family vacation or college.

Saving money is the best way to prepare for all kinds of surprises. By getting your budget down on paper (or digitally), you can track where your money is going and see exactly how much you could be saving every month.

How To Get Started

Getting started with a budgeting plan that fits your needs is easy. You can do a budget on paper or electronically, whichever is easiest for you to keep up with.

For the purposes of this article, we’ll discuss how to set up your budget on a spreadsheet. Either Microsoft Excel, Google Sheets, or a similar tool will work.

Once you have chosen the program you will use, here are some tips for creating a budget from scratch:

1. Within The Income And Expenses Categories, Break It Down Even Further

For income, you may have a salary that stays consistent, tips or bonuses that do not, and passive income like dividends or rental properties.

Expenses can be divided into food, entertainment, and utilities. We highly recommend breaking down your expenses categories, as you’ll quickly see where the majority of your extra cash is going.

2. Decide How Much You Will Spend Over A Set Period

Most people do their budget monthly, but you should choose a period of time that works for your bills and lifestyle. You can go ahead and fill in fixed expenses like car payments and rent, and you can estimate costs like groceries and eating out. Then when you actually make those purchases, input the actual figures.

This is the phase of budget planning that helps you see where your money goes — and where you want it to.

Feel free to be idealistic during your budget planning. You can set goals, like limiting your dining out money and increasing grocery spending, for example. This will save money and probably be healthier as well.

3. Create Formulas That Will Calculate Your Budget Automatically

Most spreadsheets have easy-to-use functions for creating formulas. For instance, in Excel you simply choose the cell where you want the total to appear, click on the “fx” tool, choose “sum,” and select the cells you’d like added together. Subtracting works similarly.

Automatic calculations are the main advantage of using an electronic budgeting tool. You don’t have to waste time and risk making simple mistakes month after month.

Most of these tools also have a feature that turns your budget into a graphic, so if you are more of a visual person, you can see your spending in a pie graph or chart.

Despite Your Best Budgeting, Life Happens

Alabama Title Loans, Inc. understands that life won’t always stick to what you’ve written down on your budgeting plan.

You may have a job that doesn’t pay regularly, like being a small business owner, cosmetologist or salesperson. Therefore, you can’t always predict how much you’ll make in a month.

And, of course, there are always emergencies like a broken appliance, car trouble, or medical expenses that you can’t always prepare for.

Alabama Title Loans, Inc. Can Help!

A budget will help you save money, but until you have some savings built up, a personal emergency can potentially destroy your finances.

That’s why we offer payday advance options for everyone, regardless of credit history. A simple application process is all that stands between you and the cash you need before your next payday.

To apply for a payday advance with Alabama Title Loans, Inc., just fill out the simple loan inquiry form on our homepage and wait for an agent to call you back.

Within 24 hours, you could have much-needed cash in your bank account. Flexible payment options allow you to repay your title pawn on terms that suit your needs.

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