How To Break The Paycheck-To-Paycheck Cycle

October 22, 2020 | June Mckaig

 paycheck to paycheck living

 

If you are one of those people who lives paycheck-to-paycheck, and struggle making ends meet, rest assured you are not alone. Evidence suggests that a striking number of up to 78% of American workers were struggling as much as you are even before the pandemic.

At first glance you would think that the reason for this is poverty itself. But even if that could be the case, the main reason is people don’t know how to manage their money.

Living paycheck-to-paycheck has a huge number of disadvantages, among which are:

  • Not having enough money for emergency situations;
  • Not being able to afford occasional large expense such as vacations;
  • Always having to rely on your job

That last one is very important because it means that someone else has control over your decisions. When you depend on your job for basic survival, you have no breathing room. You won’t take sick days unless you are badly sick. You won’t stand up for yourself when your rights are not being respected. And if you lose your job you will have to immediately find another one.

Break The Paycheck Cycle With These Tips

The good news is that you can do something to get out of this situation. And, more importantly, you can control your money and not allow it to control your life. This cycle can be avoided by using knowledge wisely. These are five steps to get to a point of comfort and financial stability. Of course, there are more, but we all need to start somewhere.

Find Out Where Your Money Goes

Most of it goes to housing and bills, leaving little after that. But where does that little amount of money go? Do you know with absolute certainty what happens with every cent you have? No? Write it down, you might be surprised.

Cut Costs To The Minimum

The biggest expense people have, other than accommodation, is food and supplies. However, a large amount of food ends up in the dumpster. In fact, Americans discard up to 160 billion in food every year. It’s kind of ironic that those who throw away food aren’t the rich. It’s the poor that waste the most and this could be one of the things adding to their financial troubles.

All The Costs Need To Be Cut

Before thinking that there are no more large costs, Think about this. Think about all your subscriptions, phone bills…Netflix anyone? We know that it’s hard to give up entertainment, but if you want to save money, you will need to put in some effort. We can guarantee that in a few months’ time, when you will be doing better financially, you will not feel sorry.

Invest Time In Financial Education

There are many free online options that will teach you how to save money. And investing 10 minutes every day to learn how to improve your quality of life will give you freedom of choice in the future.

Plan Ahead

Plan ahead with your savings. Saving money should be your number one priority even if your life revolves around your paycheck. You can start small with as little as 10$. Just stash it somewhere at first and try to add another 10 or 5, when you can. And the right savings account can help you grow your money over time!

However, if something urgent emerges and you need money fast without worrying about bad credit or previous debt, you can always use cash from title loans.

 

 paycheck to paycheck stress

 

What Is A Title Loan?

Auto title loans are loans that you receive when you put up your vehicle’s title as collateral. You will still get to drive your car, so you are not abandoning your means of transportation somewhere, but you will also obtain the amount of money that you need, in order to get out of whatever bad situation you are in.

How Do I Access Title Loans In Illinois?

The great thing about our process is there aren’t many steps or hurdles to go through. Unlike traditional loans that make you wait days or even weeks to learn if you’ve been approved, here you will find out within minutes if you’ve been approved. In fact, the entire process takes 30 minutes or less from the time you walk into the store.

And to find our many Illinois locations, all you have to do is search for ‘title loans near me’ and you can pick which one is closest to you.

It all starts with you filling out the online form found on our homepage. Once we’ve received the form, a loan representative from the location you’ve chosen will call you. This call is to confirm your information and walk you through the rest of the process. You will also learn what items you need to bring in – which is a very short list. You need your ID or driver’s license, your vehicle’s title in your name and free of prior loans, and the vehicle itself. The vehicle is important because its value and condition allow us to determine how much you qualify for.

After you get off the phone with us, you can head over to the store you chose and finish the process. We will go over your items and conduct a quick vehicle inspection. You will also learn if you’ve been approved or not. If everything goes according to plan and you agree with our terms, you can leave the store with the money you need.

Break That Paycheck-To-Paycheck Cycle, Today!

The truth is you don’t have to always live paycheck-to-paycheck. With some determination, hard work, and these tips, you could break the cycle. You also need to remember car title loans when you need quick cash to get out of an emergency. Checking to see if you qualify is absolutely free, so come on down!