The idea of doing a no-spend month is not a new one, but it is becoming better known during this time of financial stress for so many. There are many names one can call a financial fast, a buying detox, or a cash freeze. No matter what you call it, the idea behind it is the same.
A no-spend month is where you stop spending on anything that does not need to be purchased — no lattes, no new technological gadgets, and nothing that is not an absolute necessity. The biggest thing to remember is the essentials you have to pay for – like your car insurance, rent or mortgage, and the bare essentials. Here are some easy tips to ensure that your no-spend month will succeed.
Follow These Tips For A Successful No-Spend Month
1. Plan Your Timing Realistically
Avoid doing a financial fast during a big-spending season, like the holidays or a time in your life when there are many celebrations. If you do not plan it right, you set yourself up to either fail or have an unnecessarily hard time.
2. Make A Guide
You need to sit down before your no-spend month and make a list of any expenses that can’t be skipped over for a month. This includes things like your housing payment, insurance, utilities, etc. You will also need to figure out how much you spend on groceries and things like gas.
3. Come Up With A Solid Plan
You will also want to plan out a month of meals. Doing this involves going through your existing stockpile and seeing what you have. Do not make a big stock-up trip before, as that will defeat the no-spend month’s point.
4. Let Everyone Know Your Goals
You have to tell your close family and friends what your goal is for the month. This will prevent them from putting you in a situation to break your commitment not to spend or feel left out.
5. Make Frivolous Spending Hard
If you are a sucker for those emails or social media posts that offer you amazing discounts, you are going to want to opt-out of those for the moment. You may want to block some sites if you are a frequent spender there, or make a list and post it where you can see it.
6. Find Free Things To Do
Having fun doesn’t have to cost anything. This is a great time to do some creative projects and find some community events offered around your home for no cost. This can be book clubs, museum trips, library trips, game nights, and more.
7. Focus On The Payoff
If you feel like you won’t make it and spend money frivolously, remind yourself that you have a goal with the money you are saving during this time. Whatever reason leads you to have a no-spend month is well worth the discipline of getting through it. It may also help you have a picture or reminder of what you are hoping to do with your saved money.
8. Make Sure You Take Care Of Yourself
Going through a no-spend month can be a difficult task. We all have that desire to go out or buy something we feel will give us instant gratification. When not spending your money frivolously starts negatively affecting you, take a moment. There is no harm in taking the necessary time to readjust. Maybe try a no-spend week and slowly build-up to the whole month. While saving is important, it is also vital you take care of yourself.
If An Emergency Comes, Turn To Title Loans
If you are looking at a no-spend month, you are likely saving for a specific goal. If that is the case, you may also look into a title loan in Delaware. This is a secured loan that you can take by putting up your car’s free and clear title for collateral. You get to keep your vehicle while you are repaying the loan and all credit will be welcomed; be it bad, good, mediocre, or even non-existent.
One thing for you to remember, this loan is for short-term help, so you will want to use this title loan for something important. This usually includes a big home or auto repair, an unexpected medical bill, or the like.
How Do I Get a Delaware Auto Title Loan?
When it comes to our process, you don’t wait days or weeks for the cash once you have your approval. We even give you the option of either coming to the store or having us come to you. Just fill out our online form and wait for your phone to ring to learn what our process entails.
Once you submit the form, it is sent to the nearest location to you and a loan associate will give you a call. This is where you can give us a location and we will come to you. There will be no need for you to come to one of our stores if you’d prefer not to.
If you’d rather come to us, that is perfectly okay. Just look for one of our title loan locations in Delaware.
Regardless of which you choose, you’ll still meet with a loan associate who will go over the required items. You must have your state-issued ID or driver’s license, your vehicle’s lien-free title in your name, and the vehicle. Your vehicle will go through an inspection to determine its value and condition – both things that determine how much you can qualify for.
Once we can approve you, we will go over the loan terms and have you sign the loan agreement. It is absolutely free to see if you qualify. Just grab your state-issued driver’s license or identification, the lien-free title to your vehicle, and your car for inspection. We will let you know how much you could qualify for.
If we go meet you, then you can expect your cash in your account the very next bank business day. If you came into one of our Delaware Title Loans locations, you will walk out with the cash you qualify for.
And if you don’t own your vehicle, we also offer signature installment loans. You can get one of those unsecured loans for up to $1,500. If you are looking for an emergency loan, one of our loan associates will help you at Delaware Title Loans Inc.
A No-Spend Month could be just the thing you need to get back to financial stability. And, with these tips, it has never been easier for you to try it out and see if it is a good fit.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.
