Why It's Time to Get Better Money Habits Now
March 11, 2021 | Louis Tully
Many wish to be better with money but few are ready to put in the work. That’s because when they try to cultivate better money habits, it turns out it’s not an overnight magical change that will fix all the financial problems they’re facing – it takes time and diligence for the change to take place. While better habits will help in the long run, for the short term we explain how a title loan can help.
Why You Need Better Money Habits
Better Money Habits Mean Less Stress
The most popular good money habits you should be looking to cultivate – saving, budgeting, mindful spending – help you think about money issues less, not more.
They allow you not only better control of your finances, but the knowledge that should something drastic happen – you’ll be able to handle it.
Which, in turn, means stressing about money less.
Better Money Habits Help You Avoid Going Into A Money Hole
People who save and budget have better chances of accruing more financial obligations due to being unable to handle problems otherwise.
Having a well-funded emergency fund and sinking fund means you’ve got a security blanket against the worst that could happen. It’s much easier to deal with a job loss when you’ve got 6 months’ worth of expenses in high-yield savings account ready to go.
Better Money Habits Mean a Better Financial Future
Better money habits are something you stick to over a long period. That’s why they’re habits. When you continuously budget, save, and are mindful with your spending have better chances of avoiding lifestyle creep – instead of spending their increasing income (and those who learn to be good with money do have more chances of increasing their income) on long-term investments and building wealth both for their retirement and their children’s brighter future.
Better Money Habits Allow For More Fun
Here’s where many mistaken good money habits for a constant state of denial. People who are good with money know that they can spend the money they have for fun, as long as they’re mindful about it.
This is where budgeting and sinking funds come in handy – you can afford much more when you plan and budget for it, instead of when you’re trying to stretch your paycheck thin trying to make something happen last minute.
When you cultivate better money habits and budgeting becomes a constant part of your life, you can allow yourself to have more fun and spend more money, without harming your overall financial situation.
What Do I Do In An Emergency, If I’ve Yet to Start Saving?
Here’s one downside to better money habits – their fruits take time to show. Budgeting and saving money are good habits that will do wonders in the long run, but when you’ve only just started, they’re not going to protect you from, say, large medical bills. Only a fully-funded emergency fund can do that.
If you’re ever hit by an emergency you’re unable to cover from your paycheck, you need to figure out 2 things: 1) if it’ll get worse if you postpone dealing with it; 2) what are your options for getting money together.
If the situation isn’t very time-sensitive, you can make more long-term plans, and earn extra money by working overtime or getting a side-hustle. But if time is of the essence (say you have a toothache or your pet isn’t feeling well and needs to visit a vet), then you’re better off getting a fast loan – like a title loan – and dealing with it ASAP, while paying the loan off later.
Why Title Loans?
Car title loans have two advantages:
- They’re accessible to most people – your credit history doesn’t influence your approval chances, so you can apply even if your score is bad (or non-existent). Idaho Title Loans, specifically, will also accommodate any kind of income.
- They are fast – typically applying for a loan at a bank could take days (and even weeks), which is not ideal if you’re facing an emergency. The title loan application process, on the other hand, lasts on average around 30 to 45 minutes, and, if approved, you get the title loan cash you qualified for the same day.
How Do I Apply For A Title Loan?
Another upside to title loans is the quick and straightforward application process. You need to go to the Idaho Title Loans website and fill out the online request form – and it’s smooth sailing from there:
- Your request form will get processed within minutes and you’ll be contacted by the store representative.
- The representative will set a meeting with you. Bring your car, your lien-free car title, and your government-issued ID (to prove you’re over 18) to the meeting.
- Wait for the representative to assess everything and determine if you qualify for the loan.
- Get approved and get the cash.
Don’t let your money habits slip away from you, get a handle on them now with the helping hand Idaho Title Loans Inc. can offer. Quick easy title loans are available now.