You don’t have to be a millionaire or a Wall Street expert to know how to be good with money. “Money smarts” isn’t about how much you make, but how you manage what you have. And the good news is that you’re probably managing your money better than you think.

Here are eight signs you have learned how to be good with money. It can help you spot your strengths – and give yourself a pat on the back – and identify areas you can work on. Everyone can learn how to be good with money — you just need a little reminder now and then.

8 Signs You Know You Are Good With Money

1. You Know How Much You Really Earn

This is your total take-home pay, after taxes and other deductions. That sounds really simple, but it’s the basis of any accurate household accounting; financial security starts with living within your means.

If you have variable income — for example, you have part-time or freelancing jobs where work is seasonal — err on the side of caution. Base your budget on the assumption that it will be a slow or average month.

2. You Stick To A Budget

You have the sense and the discipline to control your expenses. You allocate for the most important expenses like rent, food, and bills before splurging on that online sale.

3. You Reward Yourself Within Reason

Having a budget doesn’t mean you’re not enjoying your money. Your budget includes a little something for yourself – because all work and no reward eventually leads to burnout. However, you plan your rewards. So you buy something you really want rather than impulse purchases you eventually regret.

4. You Have A Savings Plan

You know saving is a way of paying your future self. You’ve made sure your savings accounts are all set up. You have money for unexpected expenses, important personal goals, or even your retirement.

5. You Keep Track Of What You Spend

You don’t rely on your memory to keep track of your expenses, because you’ve learned that those cups of coffee or late-night cab fares can add up. You write down every single thing you spend on in an app or notebook.

If you go over budget – because that can happen sometimes, even with people who know how to be good with money – you know exactly why.

6. You Never Forget Your Payments

“You mean that bill was due today?” says the people who don’t know how to be good with money. Forgetting payment schedules can lead to fines, affect your credit history, and stress you out as you scramble to send the money as soon as possible.

But you never go through that because you have a fool-proof system for keeping track of all due dates. You set up notifications or set up some kind of an automatic withdrawal from your bank account. Not only are you on top of your bills, but you’re also improving your credit score.

7. You Plan For Big Purchases

Yes, you can enjoy the good life even if you’re not earning a six-figure salary. It’s all about planning and learning how to scrimp in some areas or push yourself to earn extra income, so you can get what you really want.

So if you know how to be good with money, you can afford that European vacation, save for a down payment for a home, or even plan for early retirement.

8. You Have A Back-up Plan

Even if you know how to be good with money, it’s still possible to go through a financial crisis from no fault of your own. Unexpected medical bills or being furloughed during the pandemic can rattle anyone.

There’s no shame or blame in going through a financial crisis. Stay calm and look for solutions. If your savings can’t cover the urgent expense, you can apply for auto title loans to help you out in the short term.

 

 

What Are Auto Title Loans?

Wondering how do car title loans work? Auto title loans from New Mexico Title Loans, Inc. are short-term loans where you use your car, truck, or van’s lien-free title as collateral. You can borrow up to $10,000 depending on your vehicle’s model and condition – which we determine through a quick inspection.

Is It Hard To Qualify For Auto Title Loans?

It is not difficult to qualify for a title loan in New Mexico. You can apply for auto title loans even if you are unemployed or do not have a high credit score. Our loan representatives at New Mexico Title Loans, Inc. have worked with different kinds of credit histories and will help you get the money that you need.

To qualify for auto title loans, you need to be at least 18 years old and be the registered owner of a lien-free vehicle. That means you own it outright, and it doesn’t have any outstanding loans or judgments on it. Your vehicle must also be paid off before you apply for a title loan.

Why Should I Get Auto Title Loans?

There are various reasons why you should consider getting a title loan. Three of those reasons are:

• You don’t need a lot of documents and you’ll know if you’ve been approved in 30 minutes.
• You do not have to surrender your vehicle while you take out this loan.
• You can receive the money either on the same day or the next bank business day.

How Do I Apply For Auto Title Loans?

The process of getting a title loan is simple and convenient. You don’t even have to search “New Mexico title loans in my area” because we have locations all throughout New Mexico. Just follow our short guide below for more information:

1. Visit New Mexico Title Loans, Inc and fill out a simple form. One of our loan representatives will call you to explain the process, the required documents, and address any questions or concerns you may have.
2. Bring your vehicle for inspection, your driver’s license or state-issued photo ID, and your title to the store. You also have the option of having the loan representative come to your location if you’d rather not come here.
3. The loan representative will inspect your vehicle and assess your items. They will let you know if you’ve been approved and for how much. If you are approved, they will go over the loan terms. Once complete, you will get the money either on the same day or the next bank business day.

To find out more about auto title loans, contact New Mexico Title Loans, Inc. Our loan representatives will be happy to help.

Get Auto Title Loans for Emergencies

It is important you take the time to appreciate the positive changes you’ve made. These signs prove you’ve learned how to be good with money and are on your way to financial stability. And if you do run into any financial emergencies, you can turn to auto title loans in New Mexico. Fill out our online form or give us a call at 800-514-2274 to get started.

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