How would you feel if you lost a $100 bill? Well, here’s the bad news—you can lose that amount (or even more) if you don’t have a personal budget or follow personal budgeting tips. You end up buying things you don’t want, overspending because you don’t plan, and then run out of cash for things you really need. Use these personal budgeting tips to take charge of your spending and get good value out of every cent.

Here Are 5 Personal Budgeting Tips To Try

1. Make a Complete, Realistic Budget

A budget is like a jigsaw puzzle: even one missing piece will mess it up. Many budgets fail because they’re too general and don’t take small expenses into account. For example, your weekly grocery budget doesn’t include what you spend on pet food, or what you buy at the convenience store. Those dollars add up!

So, keep a money diary for at least a month, and track down every single purchase you make. Then, categorize those expenses (household, transportation, utilities, etc.) and write down your total costs.

From there, identify categories where you can cut down. Slash out items, and research on specific personal budgeting tips for that area. For example, if you’re overspending on food, look for “best budget recipes”.

2. Use Cash as Much as Possible

The problem with online transactions is that you don’t really see or feel the money going in or out. One of the best personal budgeting tips we’ve heard is to use the envelope system: withdraw your paycheck, then divide it into different envelopes that are marked for specific expenses.

So, if you’ve realized you only have $60 left for food, you can’t dip into the envelope marked for rent. You just have to live off instant noodles for the rest of the week—and learn how to budget your money better in the future.

3. Keep a Separate Account for Savings

Savings should not be “what’s left over after I spend.” It’s the other way around: “I spend what’s left after I save.”

Most of the experts on personal budgeting tips recommend saving 20% of your income. Let’s say you have a monthly salary of $5,000. Your goal is to save $1,000.

If that’s a bit of a stretch for you, then adjust it to what you can afford but challenge yourself to find extra income or lower your costs. You may not be able to save that much right now but having a goal can help give you that motivation.

4. Plan Your Expenses

One of the best personal budgeting tips is to always have a checklist before you enter a store—whether it’s your neighborhood supermarket or a website. Write down what you need, and the amount you’re willing to spend.

If you’re purchasing something online, compare different websites and write down their prices. If it’s a purchase that can wait, consider signing up for notifications when those stores go on sale. Or, conversely, you may find out that you’ll save more by buying things ahead of time, such as early bird discounts for a class you really want to take.

The point is that planning ahead can help you learn about the best products, the best place to buy them, and the best time to make your purchase to get the biggest discount.

5. Reward Yourself

You know how weight loss tips tell you that you shouldn’t starve yourself, or you’ll only end up bingeing or giving up on your diet? Personal budgeting tips work the same way. Being frugal should not make you feel deprived or depressed.

Give yourself an allowance that you can either spend on small treats or save for a special purchase. And always remember that you can pamper yourself without spending a lot of money! Binge-watch your favorite show after the end of a long day. Take a long bubble bath. Find ways to feel good, every day—and trust us, you’ll be less likely to overspend because you’re stressed!

Need Help Before Payday? – Resort to Payday Loans!

The personal budgeting tips mentioned above can help you manage your cash flow and make the most of your money. But what do you do if you need to take care of an urgent, emergency expense, and the pay day is still several days away?

If you’re lucky, you have a friend who you can approach and say, “Hey, can I borrow some money? I’ll pay you back when I get my next paycheck.” If not, you can do something similar with Alabama payday loans. These cash advance loans can help “spot you” some money to cover a car repair, medical bill, or other important financial need.

What Are Alabama Payday Loans?

These are short-term loans letting you borrow from $100 to $500. The benefits of payday loans include:

• Minimum requirements. You can apply for Alabama payday loans with bad credit history, and you do not need to provide any collateral.
• Raise money quickly. Some of the best lenders—such as Alabama Title Loans, Inc.—can process the application so quickly that you might receive the money within the same day.
• Convenient application. With Alabama Title Loans, Inc. you can start your application online, then go to the branch to submit requirements. No long lines or waiting times!

How Do I Apply for Alabama Payday Loans?

1. Fill out the online form on our website. Don’t worry: it’s very short, and simply helps the loan representative know what you need and how to contact you.
2. Our loan representative will call you to explain more about the process and the documents you need to bring and answer any questions you may have about Alabama payday loans.
3. Find the nearest payday loan location to you and then go to the branch. Bring the following documents:
• Government-issued ID
• Social security card
• Recent pay stub
• Recent 30-day bank statement from your checking account
• Bank check from an active checking account in your name
4. A store associate will verify your documents and guide you through the rest of the approval process, including the simple paperwork.
5. If you are approved, you will receive your cash either the same or the very next business day.

Take Charge of Your Finances Today

Managing your money well can help you feel more control of your life and prepared for whatever it may bring. With these personal budgeting tips, you’ll be able to make the most of what you earn. And whatever happens, remember that you can always get in touch with Alabama Title Loans, Inc. if you need emergency cash on short notice. Submit a short inquiry form for online payday loans Alabama has to offer to get your needed cash in no time!

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