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How Title Pawns Can Save You Money in an Emergency

April 10, 2020 | Mason Roberts

 

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With the rise of calls for social distancing and the proven benefits it has on slowing the spread of viruses like the COVID-19, many are stuck at home and feeling the itch of being a homebody. But have you stopped to consider how social distancing could be saving you a ton of money? If you are low on cash then you can find title pawn Alabama companies to get fast funds but you can also begin to budget more efficiently if you are not going out.

You can begin saving a lot of money that otherwise would have been spent on other activities and items. Even if you are not saving a lot, there could be funds that you have leftover that you could invest in other more important things like car repairs or starting up your stock portfolio. Regardless of how you decide to use you saved cash, social distancing can help you:

  • Lower weekly food spending
  • Grow retirement and emergency funds
  • Allow you to learn new skills
  • Payback debts sooner

Social Distancing Can Lead to Paying Off Your Loan

Everyone knows going out to eat can be expensive. However, are you sure you know exactly how much you spend on things you could make at home? Being stuck at home and social distancing gives Alabama residents more time than ever to cook and learn new recipes. For example, if you grab a cappuccino every morning as part of your routine, that cost can quickly build up. While a single order may cost $5, you could instead learn to make your own at home. The process just takes a little bit of time and can save you tens of dollars throughout a single week.

And that is only for a single purchase as small as a cup of coffee. If you take into account the costs of going out to eat at a restaurant, you realize that you could potentially save hundreds in only a couple of months. Cooking at home will not only mean you get more food for you can but you cook healthier meals for the whole family.

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It can be tempting to spend your paycheck when you have leftover cash at the end of the week. However, you can take that cash and put it towards something worthwhile like your retirement or savings. Social distancing can impact jobs and the availability of ways to make money so building savings is also hugely beneficial. In the chance that you are in between jobs or need to pay for something in an emergency, you'll always have some funds to help. Your emergency funds can be used for things like car repairs that you need to continue your job or medical bills that may be weighing down your credit score. Title pawn companies like Alabama Title Loans, Inc. can also help you get the funds you need quickly if your emergency savings are not enough.

Learn New Skills for a Bigger Payday

With a lot of time on your hands and time at home, you can take learn new skills that you can leverage to make extra cash. For example, there are plenty of coding classes that can get beginners up and running with basics knowledge and skills. Certain companies will actually pay for you to do coding work for them, as long as you have the right skills and certification. Coding is also useful for numerous other applications like troubleshooting and designing websites. Not only can you save money handling your website for things like business or as a portfolio, but you can increase your revenue by taking on contract roles during your downtime right from home.

 

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Get $15k with a Title Pawn Near You

Social distancing also allows you to use your savings to pay back your debts sooner. Why would you want to do that? After all, low monthly payments can give you more time and be less of a burden overall. However, if your debt is accruing interest then you should consider paying it off as soon as possible. The longer it takes for you to pay off your debts, the more money you will end up paying.

For example, you have a small loan for 24 months like many websites offer then you could end up paying 50% more than the original cost of the product over 2 years depending on the interest rate. You can pay the least amount of interest by not following the minimum payments every month and instead pay extra to rid yourself of your debt quicker. You can also take advantage of things like an online title pawn and payday loans with competitive rates to pay off debts sooner. You can go online today to start an application and get up to $15,000 with a title loan in as little as one banking day or sooner.