5 Tips for Solving the Money Problem You Are Facing
2020 has undoubtedly been the harshest year financially in a long time. So, for many Americans solving the money problem became ever more pressing.
If you’re used to living paycheck to paycheck (as most are), then that paycheck taking a hit can set you backward and put you in a money hole in a blink of an eye. Thus, solving the money problem requires a more delicate approach than you might be used to.
Use These Tips for Solving the Money Problem You Are Facing
1. Break It Down
The first thing you should do when trying to come up with a strategy for solving the money problem is to identify the key points of your problem, separate them, and then put them in the list prioritizing the most urgent ones and putting them on top.
For example, if your money problem is debt – you’ll need to list them according to the urgency, interest, and minimums. Your mortgage, for example, is more important than credit cards.
2. Create a Plan
The next question you need to answer when solving the money problem is how to do it. Is there a way to shrink the bill? Is there a way to negotiate it?
Don’t be afraid to take the problem straight to the source and try to figure out how to mitigate the circumstances in a way that will make it easier to deal with it. If we use the same debt example – contact the bank/credit card companies and try to renegotiate the monthly payments.
3. Review Your Expenses
Could adjusting your spending be the key to solving the money problem? Not always, but in many cases – yes!
Take a good hard look at your expenses and figure out what can be cut or reduced. Often a large part of our expenses is made up of small spending we don’t pay attention to because it doesn’t seem so bad. But that kind of spending can add up, often to hundreds of dollars.
4. Create/Readjust Your Budget
Which is where the budget comes in. If you’re not budgeting – it’s time to start, if you are – then you need to review and readjust it. Solving the money problem requires cutting the expenses, so more of your money can be redirected – even if you can only cut $10 a week, that’s still $40-50 a month to the problem.
5. Try to Increase Your Income
Of course, the more you make, the easier it is to solve the problem. So, after you’re done with the organization part, you can focus on increasing your income to throw more money at the problem. Ask for a raise, start a side-hustle, or even provide one-off services in the area – anything that can make you extra bucks is a go.
What Do I Do in Case of Emergency?
Solving the money problem can become much harder if time is of the essence. Making a plan and diligently following it won’t work if that’s the case, because such problems tend to escalate. What it means is that the more you wait to solve them the more you’re risking it becoming worse and more expensive to deal with.
Say you’ve got a toothache – it might just be a simple cavity any good dentist can deal with in less than an hour, but if you postpone dealing with it, the problem will likely become worse, and in a couple of weeks you might be requiring an emergency root canal: a much more expensive and difficult procedure.
If the money problem you’re facing is of similar character – medical emergencies, car problems, necessary house repairs – then instead of making a long-term plan, you should focus on getting the cash together and dealing with it ASAP. If you’re pressed, getting a title pawn might be a good idea.
Why Alabama Title Pawns?
Online Title Pawns are one of the easiest and fastest ways to get emergency cash. Unlike bank loans they’re accessible to most people – as long as you’re over 18, own a car, and that car’s title is in your name and lien-free, you’re an eligible candidate for title pawns, even if you’re credit is bad (or outright nonexistent).
Alabama Title Loans, Inc. will not pay much attention to your credit score, so as long as you satisfy the few requirements and prove you can pay off your loan (any kind of income will be accepted and accommodated), you can easily get approved – and get up to $15 000 the same day.
How Do I Apply for an Alabama Title Pawn?
Applying for Alabama title pawns is a simple and straightforward process – and you can easily start it online, without having to leave your couch. Here’s how:
- Find a short inquiry form on our website and fill it out;
- Wait for the loan representative to contact you and set up a meeting at a convenient location;
- Take your car, your lien-free car title, and your government-issued ID to the meeting;
- Wait for the loan representative to assess everything and determine if you qualify for the loan;
- Get your approval and cash!
The whole procedure lasts on average no more than 30-45 minutes.
Apply for Your Alabama Title Pawn Today!
Being in a pinch is distressing and mentally exhausting. Try our tips for solving the money problem you are facing – and you’re sure to get yourself out of the financial hole and see your future full of possibilities, not their absence.
And keep in mind that Alabama Title Loans, Inc. is always ready to help you survive through that financial hardship by offering the cash you need in just 30 minutes of your time! So, don’t wait and apply today!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.