Double Checking Finances Before Making A Holiday Budget
A lot of consideration must go into creating a holiday budget. The season can be costly and no one wants to be left short of cash. The best way to make sure you have enough money to get through the holiday is to double-check your finances.
That can take some effort too. You can't just look at what you have for the week, you need to look at what cash you have coming in for the whole season. That means you should check your disposable income before making any holiday plans to ensure you can afford them.
Figuring Out Your Disposable Income
A key piece of advice is to only use your disposable income for Christmas and New Year's activities. Disposable income is what you have left over after you pay your monthly obligations and allow money for necessary expenses like gas and food.
The best way to figure this out is to add up your expected pay between now and New Year's Day. Be conservative and take a lower amount than an optimistic amount. Now, list your monthly obligations. Add the standard amount you spend for a normal food run and gas.
Subtract your combined expected expenses from your expected revenue. That is your disposable income. Those who find they don't have enough money to get them through the holidays will need to do some planning.
How To Make Holiday Ends Meet
The next step is to figure out how much money you will need for Christmas. You may need to cut back on your ideal holiday so work that into the initial equation. List items you know that you or your family have their hearts set on and add up the cost.
Be sure to include little things that will likely pop up like bringing a small gift to a party host, a charity donation at work for a Christmas fundraiser, and other little things.
Compare that to your disposable income and calculate the difference of what you will need. Double-checking your budget early allows you time to implement a strategy. There are a few things you can do to pick up some quick cash for your holiday budget.
One idea is to sell items online. Another idea is to pick up a side hustle. Side hustles during the holiday include things like personal shoppers, food delivery, house cleaning, and decorating services. If those aren’t an option for you to get money for urgent situations, another is to seek short-term financing.
Getting Financing In Idaho
One private lender that offers several alternative loan options in the state is us at Idaho Title Loans, Inc. to help you out with any emergencies hurting your holiday budget. We offer title loans, payday loans, and signature installment loans. Here is more information about all three of our loans.
Title Loans
Title loans are an option for those who need money for a major expense since this lender offers up to $15,000 depending on the value of your vehicle.
Payday Loans
Payday loans are a way to pay for smaller expenses with this private lender offering between $100 to $500 in this option. This loan is typically repaid with your next paycheck.
Signature Installment Loans
As for signature installment loans, Idaho Title Loans, Inc. offers up to $1,250. One of the advantages of a signature loan is you can pay it out over time rather than the next payday. You pay in equal monthly installments over several months so your expenses are spread out.
Requirements
All three options require you to have a driver's license or state-issued identification. Title loans also require a clean title in your name and your vehicle available for an inspection. Payday loans and signature loans both require your most recent pay stub and an open checking account in your name.
We also require a blank check from your checking account for a payday loan and a checking account statement in your name for a signature installment loan. To apply for any of these loan options, you must be at least 18 years old.
Getting Started
Getting started with Idaho Title Loans, Inc. begins with filling out an online inquiry form. Once your information is received, a friendly loan representative will call and explain more about the loan process. We will also help you schedule an appointment either at the store or a convenient location of your choice if you are seeking a title loan.
A loan representative from the store will then validate your documents and help you with the final steps of getting the money you need. The meeting can take as little as a half-hour and you will get a decision while you wait. Those approved can access money either the same day or the following business day.
Send The Form
Filling out the online inquiry form is the first step to making sure you meet all the emergency needs that can pop up during the Christmas season. It can help you round out your holiday budget and pay for any urgent expenses to ensure you have a hassle-free time with family and friends. We here at Idaho Title Loans, Inc. work with people in all types of credit situations, so fill out the form and see how we can help you! Submit the form today!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.