What Not to do When You’re Broke in Mississippi

March 17, 2020 | Louis Tully

 

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Being financially unstable can be stressful and a situation that is difficult to get out of once you’re in it. However, there are ways to avoid digging a deeper hole and improving your finances instead. By avoiding some of these pitfalls, you can continue growing your savings and avoid hurting your situation further due to unwise decisions. If you are trying to take control of your future and finances, then you should not:

  • Get Unnecessary loans
  • Spend money on non-essentials
  • Dodge bills and bank statements
  • Pay bills late
  • Pay for Everything with Credit

Get Unnecessary Loans

Getting a loan simply because you want to go out or buy the newest thing out is never the best idea. Many emergencies and issues can arise. If you are broke in Mississippi then like most Americans with financial issues, you are living paycheck to paycheck. If anything were to go wrong and you were unable to pay off a loan, you would only be digging yourself deeper into debt. You should instead plan to take out a loan to ensure that you will be able to repay it. Title loans and signature installment loans can provide temporary relief in emergency situations but are not permanent solutions. You should avoid taking on unnecessary loans and reserve loan places for emergencies.

Spend Money on Non-essentials

Going out to eat or to clubs and bars are non-essential expenses that can quickly drain your funds. Rather than having to look up loan places near you because you overspent and need to pay for funds, you can reserve your funds for vital items. Through proper budgeting and planning, you can end up saving some of your paychecks every pay period and begin catching up with old debts and more.

Duck Bills and Statements

Ignorance is no excuse and most banks will not care if you start avoiding them. They will continue to try to get what they are owed and will most likely put a mark on your credit score. This can mean that you will not be able to apply for a credit card or loans that require a high credit score. You are better off trying to settle for a lesser amount and developing a payment plan.

Pay Bills Late

Being broke can mean having no funds in your account after paying off bills but you should always avoid paying them late. Charges can rack up and having to pay 2-3 months’ worth of payments at once can become impossible. In emergencies, you may need to take out a payday or title loan online. If you own your vehicle, then you may qualify for up to $2,500 in cash for your title.

Pay for Everything with Credit

Racking up credit card charges can seem easy to handle at first until you need your card in a pinch. If you own a credit card, then you should reserve it for essential purchases you cannot pay upfront. Managing your credit can mean a higher credit score and more opportunities to get funds for things like a car, home repairs, and more.

 

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Apply for Mississippi Title Loans Online Today

If you are stuck in a financial bind with payments coming up soon, then you can get speedy cash for your title online today. Depending on when your application is approved, you can get your funds in your account the same day. You visit Mississippi Title Loans, Inc. today to find an affordable auto title loan available now.