two fingers with cartoon faces asking how to budget our money

Money Budgeting Tips for Incomes Less Than 50K

Money flies and it sure is hard to keep it where it belongs – in your wallet. There are a few money budgeting tips that you can follow, however, that can help you ensure that you’ve always got a little scratch on you for when you need it. Today we’ll share a few money budgeting tips so that you can try them for yourself and see just how easy it really can be. 

Low Income Money Budgeting Tips

Pay Yourself for Your Work FIRST

When you’ve made a budget for the rent, utilities, and food, you still have to allot a percentage to yourself and one of the strongest of our money budgeting tips is this – pay yourself first. Making the conscious effort to put your money aside makes it easier to spend it wisely.

It’s about knowing exactly how much you have to spend on YOU that makes it easier to avoid impulse buys, and you can even end up saving a little. Try it and you’ll see.

Make a Refrigerator List for 'Impulse Buys'

Another great tip when it comes to money budgeting is to put up a list on your refrigerator for impulse buys. When you want something, rather than buying right away, mark it down on your sheet and wait at least a week to see if you really want it.

It’ll still be at the store if you do, but you might find that the urgent need to buy it now has passed.

User Direct Deposit to Build Savings

Another priority on our list of money budgeting tips is growing your savings. Set up a second direct deposit so that a percentage of your check is automatically placed in an account specifically for savings. If you have a debit card for that account, put it in a drawer at home instead of your wallet.

As far as money budgeting tips go, this is one of the best, because if you can keep away from that debit card, your savings will build up faster than you expected.

50/20/30 is a Good Rule to Live by

Money budgeting tips come and go, but this is one that has stood the test of time. Plan your budget on the 50/20/30 model. 50% of your income goes towards things that you need, such as rent, groceries, utilities, and school. 30% of it goes for things that you want and entertainment. Finally, 20% goes straight to savings.

This is one of those money budgeting tips that can really improve your life if you stick to it.

Write Down Your Spending for One Month

The last of our money budgeting tips is this: Get a notebook and write down every time that you spend money on something. Write what it is on the left and how much it costs on the right. Do this for a month, and at the end of the month, you have the ultimate tool for creating a realistic budget.

At the end of the month, go through it with a highlighter and highlight any ‘frivolous’ spending, such as impulse buys or other things that aren’t essential. This way you can make sure that you budget for the remaining items and get a better idea where you might need to cut back as far as impulse buys.

What if I Need Emergency Cash Before Payday?

Sometimes you need cash NOW and simply can’t wait for your payday to come. That’s where Alabama Title Loans, Inc. can help by offering Alabama payday loans for those rainy days of yours. If used responsibly, payday loans can be a great way to fix a small issue before it becomes a bigger one. The money that you borrow is taken out of your next paycheck, so there’s no fuss – it’s like getting your paycheck early!

If you have bad credit or no credit, you can still apply, as Alabama Title Loans, Inc. works with all types of credit and reviews each application individually. To help you while still making payday loans an uncomplicated solution, loans are available in amounts from $100 - $500. You can get the cash that you need and pay it back easily. It’s a win-win fix when you absolutely need your cash now.

How Do I Apply for Payday Loans with Alabama Title Loans, Inc.?

applying for an Alabama payday loan online

Applying for payday loans is a breeze with our streamlined system. Just visit the Main Page to fill out a short online form and then gather the following items:

  • Driver’s license or State-issued ID
  • Social Security Card
  • Your most recent pay stub
  • A copy of a recent 30-day bank statement
  • A blank check from your active checking account

Once you’ve filled out and submitted the inquiry form, you should keep your phone close, as one of our loan representatives should be calling you shortly. After confirming your personal information, you’ll be requested to come into one of our convenient locations nearest you to complete the application process.

After verifying the information that you’ve provided, your loan representative will let you know if you qualify as well as how much cash you qualify for. The process can be done in as little as 30 minutes and if approved, you can get your cash today!

Get Your Alabama Payday Loan Today!

Now that you’ve got a template for financial success, all you need is to follow it. Use these money budgeting tips wisely and remember that you’ve got an ace in the hole if an emergency arises. Payday loans can help when you need it, and Alabama Title Loans, Inc. will take care of you. Apply today to get your cash in no time!

For bigger cash amounts, make sure you own a car, its title is in your name – and you can get up to $15,000 with our Alabama title pawns service.

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


Daniel Dewitt

Daniel Dewitt is a lifetime blogger with a finely-honed ability to break down, analyze, and interpret economic trends for the layman. He's fiercely invested in spreading financial literacy and helping everyday people gain the tools they need for their own economic success.