Are you struggling to get ahead of your monthly bills and always reaching for your credit cards or taking out payday loans to cover the cost of living? If you have a job that provides a good wage and regular hours, you can start building your personal wealth with some simple money saving tricks. You don’t have to start with a lot of cash, but over the years you will be able to create a savings account that is ready to support you in a time of need.
Start an Automatic Savings Plan Now
Every time you receive a paycheck, have your bank transfer some money into your savings account. If you are young, you can start out by putting away five dollars a week, and keep increasing it every time you get a raise, a better job, and even when you receive gifts of cash for birthdays, graduation, and weddings. Your saving account is there to put money in, not take it out. Just leave it there until you really need it.
Pack Your Lunch
Even if you buy the cheap sub at your local deli, you are probably still spending $7 to $10 for lunch, snack and soda. When you pack your own by shopping at the grocery store, you can cut your lunch budget in half and still enjoy the best cheeses, artisan breads, your favorite bottled tea and a bag of chips. If you were wondering where you would ever find that $5 to put into your savings account every week, by brown bagging your lunch, you can save it up in just one day.
Pay Off Your Credit Card Every Month
Paying with plastic is definitely the standard currency these days. But when you carry over your balance, you will start paying exorbitant interest on that new pair of shoes, dinner out with friends, and even that cute pair of earrings. Instead of spending the $10 like it said on the price tag, you can pay $15 for that item when you include all the interest you are paying the bank when you carry a balance. Credit cards only work for your spending habits when you pay them off every single month. If you can’t, think about getting rid of them until you have better control of your finances.
Buy a Coffee Maker
Do you love that cup of latte every morning? Do you pay $5 or $6 for waiting in line? How much is your coffee habit costing every month? For the price of sipping special roast with a shot of espresso and a dash of cinnamon from a name brand cup once a day for a month you can buy your own specialty coffee maker. You can still wallow in your morning indulgence but only spend anywhere from 50 cents to $1 for the same coffee, cream, and sweetener. This simple step can put as much as $200 per month towards that savings account or for covering fall clothes for your kids.
Take Advantage of Company Benefits
Many large corporations offer significant employee benefits that extend to even their part-time employees:
- 401k retirement savings plans
- low-cost health insurance
- life insurance
- short-term disability insurance
- college tuition reimbursements
- low-cost home and auto insurance
If you don’t know what options are available to you, make sure to contact your Human Resources department or manager. Those benefits are part of your pay. Use them!
Use Secured Personal Loans for Emergencies and Large Purchases
It can be tempting to take out a secured personal loan so you can pay for a summer vacation or special event wardrobes, but when you are working on increasing your personal wealth, make sure to only finance emergency fees like medical bills, home repairs, auto repairs, and other large necessary purchases. Quality lenders like 1(800)Car-title are there to help you maintain your quality of life by providing fast access to loans when you need them most. But by avoiding overspending on daily expenses, you will be able to build that rainy day fund with your own savings account and not pay the interest on a loan
If you do need help covering an unexpected expense, remember to reach out to 1(800)Car-title for a rapid review and approval of your loan application.
- Apply for a Title Loan Online
- Refinance Your Loan
- Get an Estimate on a Title Loan
- Get a Car Title Loan in California
- Car Title Loans Georgia
- Title Loans
- Utah Car Title Loans
- Title Loans Home Page
- Get a Loan With a Pink Slip
- Old Car Title Loans
- Car Title Loans in Sacramento
- St Louis Title Loans
- Giving Back
- Arizona Title Loan
- Title Loan or Payday Loan?
- Car Title Loan Options
- Title Loans Car Improve my Credit?
- Get a Title Loan with your RV
- Salt Lake City Title Loans
- Bakersfield Title Loans
- Idaho Title Loans
- Special Programs