The Secret for How to Be Frugal
Why are so many people trying to figure out how to be frugal? It’s one of the most googled questions when it comes to financial topics.
And there’s a good reason! As financial literacy is becoming more of a trend than a niche, more and more people learn that there’s no shortcut to building financial stability and learning how to be frugal to save money both for long-term and short-term purposes is pretty much the only way to do it. Unless you win a lottery. Which… you have more chances of being struck by lightning than winning the lottery.
So here are tips on how to be frugal and also when and how to get online title loans.
How To Be Frugal
Are you overpaying on something?
If there’s an option to switch to a cheaper version – do it. Switch to a cheaper car, move to a cheaper rental (or get a roommate); negotiate some of your bills like insurance and credit card payments (use apps like Truebill or Trim to figure out what you can negotiate).
2. Start Budgeting
It will be very hard to learn how to be frugal without learning how to budget. A budget is supposed to be the biggest help when you have trouble controlling your spending.
Remember that when setting up a budget you should put in fixed monthly expenses first, flexible necessary expenses (gas, groceries, etc.) next, and budget for everything else with what’s left. And yes, you do need to budget for your “wants” as well – too rigid a budget is just asking to be busted.
3. Cut Unnecessary Spending
Take a good look at your expenses when starting to budget.
Do you really need everything you’re spending money on? This goes for things you pay for regularly, but don’t use that often – things like cable, subscription services, premium apps, memberships.
Review which ones are the most oft-used and leave those, cancel the rest.
4. Cut Down Food Spending – Buy Smartly and Cook in Bulk!
Food is one of the biggest expenses of a typical American. Learn how to control food expenses and you’ll save a ton.
- Cook at home and treat takeout or eating out like a special occasion;
- Have a meal plan – cook several meals in advance to switch up during the week;
- Switch to generics;
- Buy in bulk for your freezer and pantry – try to stock up on expensive items like meat on sales;
- Don’t overbuy – if your freezer/pantry is already stocked, even the most enticing sale isn’t worth it.
Instead of going to a regular store when in need, go to a thrift store.
Not only can you buy clothes thrifting, but items like utensils, jewelry, books often pop up in larger thrift stores.
Explore your area beforehand to learn where the thrift stores with the largest selections are, so you can find what you need with no problem when the time comes.
6. Automate Your Savings
It could very well be what teaches you how to be frugal. Treat saving money as if your salary has been cut. Have a set amount deposit into your savings account the moment paycheck hits, and budget with what’s left.
Ideally, you should be saving no less than 20% of your paycheck, but if it’s not something you can afford just yet – start small. What matters is that you start.
Why Is Saving So Important?
Even if you learn how to be frugal, you are still not likely to be able to handle every major financial problem you encounter from your paycheck alone. That’s where the emergency fund comes in – having around 6 months’ worth of expenses saved up means you’ve got insurance even in the worst-case scenario.
If you don’t have an emergency fund, being hit by an emergency could put you in a money hole. Especially if it’s a time-sensitive problem that could escalate if you postpone dealing with it – and cost you even more money as a result (like a medical emergency or your home needing sudden repairs). Not having an emergency fund leaves you to scramble to get cash together from other avenues. In case of a time-sensitive problem, your best bet would be car title loans.
Why Title Loans?
Title loans are 1) accessible; 2) fast.
Anyone who’s over 18 and outright owns their car can apply – even if their credit is bad or nonexistent (Utah Title Loans will accommodate all kinds of income).
The procedure takes on average around 30-45 minutes, and, if approved, you’ll get the money the same day, enabling you to deal with your emergency ASAP.
How Do I Apply for A Title Loan?
- You’ll need your car, your car title (must be in your name and lien-free), and your government-issued ID.
- Go to the Utah Title Loans website and fill out the online form;
- Answer when the loan representative calls you to provide further instructions and set up a meeting;
- Take the required items to the meeting for the loan representative to assess and determine if you qualify for the loan;
- Get approved and get the cash!
When wondering about how to be frugal, follow our secret tips. And if you require a little more money, remember, a same day title loan in Utah can help you when you are in a financial struggle.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.