How to Live Frugally – Even If You Never Have Before
Ever since the pandemic, more and more Americans are trying to ditch the paycheck-to-paycheck lifestyle, so the question of how to live frugally is trendier than ever before.
Problem is, the majority has never learned how to live frugally, so they may have trouble starting. We’re taught that as long as our bills are paid on time, we’re doing good. We’re not. We’re one step away from being broke – as pandemic has clearly illustrated.
So, if there was ever a good time to figure out how to live frugally, it’s now. Here are some tips to get you started and how to get a title pawn.
How to Live Frugally
1. Learn to Settle for Less
Just because you have the money doesn’t mean you should spend it. Just because you can afford payments for an expensive car, doesn’t mean you should buy it.
If a $5000-$6000 car can do the job, that’s the car you should buy – not the one that costs over $20 000. The same goes for the rest of your expenses – expensive doesn’t always mean best, and sometimes even if it is the best, a cheaper option could work just as well.
2. Spend Mindfully
Learning how to spend mindfully is the crux of learning how to live frugally. Many think frugal living means depriving yourself of certain things. It doesn’t. It means being smart about them.
If you want to buy new clothes, don’t go to a mall – go to a thrift store. If you want to make a big purchase, don’t do it right away – wait for a sale and save money up.
When you’re shopping – do so with a list and stick to it. Small expenses of $5-10 are something we often ignore, but they tend to pile up at the end of the month.
3. Start Budgeting
No advice on how to live frugally would be complete without this one and for a good reason. A budget is an ultimate money-management tool, the one that lets you know where your paycheck is going down to a dollar.
When setting up a budget, keep in mind that you should budget both for needs and wants. Take a good look at your expenses, and cut the things you don’t need (cable, subscription services, premium apps you’re rarely using), and try to mitigate expenses you can’t (negotiate insurance and credit card payments, etc.).
4. Give Yourself an Allowance
Otherwise, the budget will truly become a deprivation tool you’ll be unable to stick to. Just make sure the allowance isn’t at the expense of your primary expenses like bills and savings.
Figuring out how to still enjoy your life while spending less money is the major point of learning how to live frugally. For example, treat the things like eating out as treats to be enjoyed once in a while – not a daily occurrence.
5. Start Saving
Ideally, your budget should look something like this: 50 of your income goes to needs, 20 goes to savings, and 30 goes to wants. But it’s not always possible, we understand that.
What is possible, though, is for you to start saving. Even if you start small – say 2-3% of your paycheck. But start saving, this is non-negotiable. Automating the savings will help. Treat it like a pay cut and have a certain amount transferred to your savings account the moment paycheck comes in.
As you become better at living frugally, you’ll be able to increase your savings – but it’s important to start forming the habit right away.
Why Is Saving So Important?
Without having some money saved up, you’re likely unable to handle any major financial issues of the bet. Meaning you’re one step away from going into a money hole, even if you’re staying on top of your bills.
For example, if a major medical emergency occurs, or your car starts breaking down, or it turns out your home needs major repairs – you’re unlikely to be able to cover it from your paycheck. An emergency fund could help in this case.
But if there’s no emergency fund, you would need to get cash another way, like applying for a title pawn in Alabama, if you reside in the area.
Why a Title Pawn?
Getting a title pawn online is easy, which makes it an optimal emergency solution. As long as you’re over 18 and outright own your car, you’re eligible – as you can apply for a title pawn in Alabama even if your credit is bad or nonexistent. This will allow you to get the cash the same day – meaning you can deal with your emergency ASAP.
How Do I Apply for a Title Pawn in Alabama?
- Go to the Main Page of Alabama Title Loans, Inc. website and fill out the online form;
- Wait for the loan representative to contact you and provide further instructions;
- Go to the meeting they’ll set up and take the required items – your car, your car title (must be in your name and lien-free), and your government-issued ID with you;
- Let the representative assess everything to determine if you qualify for the loan. He will also determine the exact amount you qualify for.
- Get approved and receive your cash!
Apply for Your Title Pawn in Alabama Today!
If you don’t have your savings account in place yet, but the emergency is forcing you to spend cash immediately, don’t hesitate to apply for a title pawn in Alabama. Get started today! After all, it’s better to take care of urgent things now, before they get worse.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.