How To Save More Money Each Month In Mississippi
June 3, 2021 | Emma Frost
Learning how to save more money each month by making small changes in your lifestyle could go a long way in helping you achieve financial freedom.
After all, living below your means is key to building long-term wealth. Spending money is the easiest thing in the world, you could always spend what you make no matter how much your income increases.
But if you learn how to save more money each month now, you’ll be able to control your money in a way that allows you to make the best decisions for what you have – however big or small the amount. Here are our top 5 tips on how to save more money each month.
1. Cut Down On Unnecessary Spending
This is the first step you’ll need to take when figuring out how to save more money each month. Where is your money going in the first place? Take a look at your monthly expenses and cut the spending you can live without. Anything you don’t regularly use – like subscriptions, premium apps, memberships – shouldn’t be there.
2. Budget For Wants
Know how much you’re spending on things you enjoy. And keep it under control. Sure, you can go out with friends, or order takeout, or buy a new item or two when you really like something – but make sure you stay within the budget.
Keep in mind that no more than 30% of your monthly income should be going towards your wants. The rest should either be in your “needs” category or your “savings” category.
3. Drop A Vice
If you’re a regular smoker or drinker, not only are you likely spending between $100-200 a month on a habit that’s hastening your death, but you’re also likely damaging your finances in other ways as well.
For example, did you know that insurance companies are allowed to charge smokers up to 50% more in insurance fees? And the older you get the larger your premiums will be getting. You don’t even need to do it cold turkey – decrease your consumption little by little and you’ll increase your savings little by little.
4. Do A “No Spend” Challenge For A Week Each Month
Another way to learn how to save more money each month is to start a “no spend” challenge for a week each month. Choose a week each month when you won’t be spending anything. Not a dime. Stock up the freezer and pantry beforehand, make sure you won’t have any bills to pay that week – and go!
5. Automate Your Savings
Ultimately, this is how to save more money each month – automate your savings and increase the amount that will automatically be transferred to your savings account each month. It can be as little as $5 – that’s still $5 more than you saved last month.
What To Do With The Money You Save
Before googling how to save more money each month, do make sure you know what you’ll be doing with the money you save. Because just knowing how to save more money each month isn’t enough if you have nowhere to direct the money.
The first thing you should do is set up an emergency fund. The emergency fund should be able to comfortably cover around 6 months’ worth of your expenses – along with all possible unexpected spending.
After the emergency fund is set, you can concentrate on sinking funds for big, expected expenses, so you don’t have to take money out of an emergency fund to cover them in the future.
Handle Emergencies With An Online Payday Loan!
If you get hit by an emergency while you’ve yet to save up money, you might want to look into getting an online payday loan.
Getting an online payday loan with Mississippi Title Loans, Inc. is easy. In fact, you can get approved even if your credit is bad – or nonexistent altogether, you only need a few minutes to apply, and if you are approved, you’ll get the cash the very same day.
When you need cash on short notice for emergencies such as refilling your meds, taking your car to a tech, or fixing a broken lock, a payday loan could be fast help.
How To Get An Online Payday Loan
To qualify for a payday loan with Mississippi Title Loans, Inc. you’ll need to bring the following online payday loan required items with you:
- A valid government-issued photo ID;
- Your most recent pay stub;
- A blank check from an active checking account in your name;
After you get all the items in order, just submit a filled-out online form on the website and wait for the loan representative to contact you with further instructions.
You’ll need to take the required items to the meeting the loan representative sets up. They’ll assess everything and determine if you qualify for the loan and what the loan specifics should be. If you get approved, they’ll walk you through the final steps and you’ll be all set to get the cash right there.
Start Learning How To Save Money Each Month
With any of these tips, you could easily learn how to save money each month. And when you need help with emergencies, an online payday loan from Mississippi Title Loans, Inc. can help. Apply right now and get up to $400 in less than a day!