If 2020 showed us anything, it’s that having a substantial emergency fund could be all that stands between you and financial ruin. While pandemic has done a lot of harm, it has had a thin silver lining of bolstering more people’s resolve to quit living paycheck to paycheck and find tricks to save money as soon as possible, so that they’re not as vulnerable to financial quakes.

To help you out on your money-saving journey, here are our favorite tricks to save money.

1. Get On A Budget

Not as much one of the tricks to save money, but a long-standing management tool. But most who’ve gotten on a budget will agree that saving money is infinitely easier when you have full control over your finances.

When you track your expenses and stay on budget, small expenses that tended to pile up disappear, and money you inadvertently wasted because it didn’t seem like a big deal goes to your savings.

Every dollar matters when you’re on a budget – meaning more dollars can be redirected to savings.

2. Automate Your Savings

The easiest among tricks to save money is this one – pay yourself first when your paycheck comes in and have a portion of it automatically sent to a savings account.

This way, you’ll be able to save some cash monthly no matter how bad your spending habits are.

3. Get On A Meal Plan

Also, a mainstay among popular tricks to save money is cutting down on eating out and takeout. Food typically tends to be one of the biggest expenses for an average American – especially if they work full-time and order lunch.

Instead cook up meals ahead for both lunch and dinner, while treating eating out as, well, a treat and not a regular thing. If you do, you’ll notice a difference in your expenses in a week.

4. Stock Up On Sales

This will take a little planning but it will help in the long run. Sales might seem like an obvious thing when talking about tricks to save money, but the thing is many people waste money on sales instead of saving – by buying things they don’t need.

Instead, use sales to stock up on things you know you will need – like non-perishables for pantry or meat/fish for freezer, toilet paper, detergent, i.e. anything that can last long enough to be used up.

5. Drop A Bad Habit

If you’re a smoker, you’re likely wasting over $100 a month on cigarettes. Dropping the habit will not only benefit your wallet but your health as well. This also applies for things like alcohol.

6. Cancel Subscriptions

If you use a lot of subscription services and premium apps, canceling most of them could make a serious difference in your expenses.

Leave a couple you use most often – and ditch the rest. No, you don’t need Netflix, Hulu, HBO, and Disney at the same time, just one is enough.

7. Thrift Shop Instead

Buy only the things you need – and buy used! Did you know that you can thrift not only clothes but dishes, books, toys, and more? It really is a great alternative to shopping in expensive stores at the mall. Thrifting, especially mindful thrifting, can help you save a lot of money.

8. Negotiate Bills

This is one of the lesser-known tricks to save money that should get more attention. Did you know that you can negotiate certain fixed expenses? Things like your car insurance, credit card payments, medical bill repayment can be re-arranged in certain cases. Don’t be shy to contact providers and be a little pushy to find out if there’s a better plan you could get on. There are even apps that could help – try Truebill or Trim, as examples.

 

 

How Do I Deal With An Emergency If I’ve Yet To Save Up?

For all the good these tricks to save money can do you, saving money still takes time. Meaning until your emergency fund is set, you’re still vulnerable to various financial problems.

If you get lucky, you’ll be able to save up peacefully. But if you’re hit by an emergency before you’ve managed to save up, you’ll need to quickly figure out the best way to get some cash together to deal with it.

A title loan could help when you’re dealing with a time-sensitive problem that needs to be handled immediately.

What Makes Title Loans A Good Option?

Title loans are accessible, quick, and easy. As long as you’re over 18, own a car with the car title in your name, and have some sort of income – you can apply and are eligible for a title loan.

Your credit score won’t have any impact at all – so you can apply even if your score is bad or nonexistent altogether.

How Do I Apply For A New Mexico Title Loan?

Applying for a title loan in New Mexico is simple and quick. Just follow our guide below for more information:

1. Go to the New Mexico Title Loans website and fill out the online form;
2. Answer when contacted by the loan representative, who’ll provide more information and set up a meeting with you at the nearest title loans location;
3. Take your car, your car title that must be in your name and lien-free; and your government-issued ID to the meeting for the loan representative to inspect;
4. Wait till the loan representative determines if you qualify for the loan;
5. Get approved and get the cash the same day!

This entire title loan application process takes on average no more than 30 minutes to complete. And if you do get the cash, you will drive away with it in your vehicle.

Trying to save money quickly doesn’t have to be difficult. With these eight tricks, you could see yourself saving money quickly!

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.