Avoid These Top 5 Budget Breakers

October 23, 2020 | June Mckaig

budget breaking emergency crisis

 

Creating a budget won't magically solve all of your financial struggles unfortunately. There are countless budget breakers that people who are new to sticking to a money plan may well fall into. These are just five of those pesky budget breakers that’ll wreak havoc.

Budget Breakers You May Fall Victim To

Not Giving Yourself Enough Room To Breathe

For those of you who have budgeted all of your income, with no room for unexpected occurrences, you're causing yourself more issues. Emergencies happen — and nine times out of ten it takes money to fix the issue.

Whether you have to repair your car, fix the oven, or buy a last-minute present, you need to be able to afford it. So, make sure you always budget for the unexpected too.

Never Revising Your Budget

Changes are happening all the time. Because of this, your current budget might not be right for you throughout the whole year.

Try to revise it at least once every other month – once a month is really ideal!. If you happen to get a promotion and now have a higher income, you can edit your budget to reflect this.

Alongside this, you need to consider seasonal changes as well. December, especially, is a very expensive month for those who celebrate Christmas. But you can plan for it by starting to save during the spring.

It's easy to balance this out when there are some months that you're saving more than spending.

Impulse Purchasing

You likely haven't included spontaneous spending into your budget. Unfortunately, sticking to your budget sometimes means that you have to say no to potentially fun activities. However, you'll gain a lot in the long-term. So stay strong!

After all, it feels so much better spending your hard-earned dollars on something you've considered and saved for.

Giving Money To Friends When You Can’t Afford It

For those of you in your twenties, lending your mates money is the most common financial mistake you'll make. But we can't fault you for how much love you feel for your friends!

Loaning your pals cash is a real no-no when you can barely afford to make ends meet yourself. Plus, it'll only lead to that "when are you going to pay me back" conversation that no one enjoys.

Never Canceling Subscriptions You Aren’t Using

Free trials are great, but only if you remember to cancel them! When you revise your budget, go through all subscriptions and get ready to cancel your unused ones immediately.

 

budget breaking hurting your money

 

Have An Emergency? Take Out An Online Title Loan

If you have fallen into an emergency that is budget-breaking, you might need some excess cash while you get yourself back on track. An online title loan is the best way to do this!

A Title loan is a secured loan that uses your vehicle’s lien-free title as collateral. You must make sure the title is in your name and free of prior loans. If it is then you could use whatever vehicle you own!

Benefits Of Title Loans

Since the internet graced the planet, it's become incredibly simple to do almost anything from the comfort of your home — including applying for car title loans! You can begin your application right online! Another benefit is, unlike bank loans, you won't be penalized if you have a less-than-average credit score. Title loans near me are very competitive in this aspect.

A third benefit is, contrary to popular beliefs, you do keep your vehicle while you're paying off the loan. As long as you stay on the repayment schedule, you won’t run into problems. We will also sit with you to come up with the right repayment schedule for you.

Everything You Can Use Title Loans For

In this case, you'll need to use your title loan for getting yourself back on track financially. However, you can use your title cash to help with any unexpected situation! Say you are late with your rent or you have sudden home repairs, your title loan can help! If you are smart with your cash, you can use the title loan for many emergencies.

How Do I Get A Title Loan?

Getting a title loan with Carolina Title Loans is really easy. We actually offer you two ways. Either you can come to the store or we will come to you! Either way, it starts with you filling out the online form found on our homepage. Once we receive it, you will get a call from a loan representative in the closest title cash near you. During this call you can give the loan rep a location so they can meet you – if that is the option you choose. You’ll also learn what items you have to present to us. Those items are: your ID or driver’s license, your vehicle’s title, and your vehicle.

After you get off the phone, you can either come to us and we’ll come to you. Either way, you will still present to us the items I mentioned. We will also do a vehicle inspection to determine how much you could qualify for. We will then examine everything and let you know if you’ve been approved. If you are in person with us, we will hand you the cash you qualify for in person once you’ve been approved. If we meet you, we will put the money into your account by the very next bank business day.

Make Sure To Avoid These Budget Breakers If You Can

When it comes to budget breakers, as you can see, it is important to avoid them when possible. Having financial stability is important and will give you peace of mind. But obviously there are emergencies that just cannot be avoided. That is where you should remember title loans from South Carolina!