2020 was a year that gave stress a whole new meaning. Especially when it comes to finances. Thus, how to not stress about money became the contestant for the question of the year.
Luckily, there are strategies that may help you reduce your stress significantly. It’s just a few basic steps, but sticking to them though is not as simple – you need to be diligent and dedicated. So, here’s our guide to follow when you need a piece of good financial advice and how an online car title loan can help in time of need.
How to Not Stress About Money
1. Set Up An Emergency Fund
If there’s one step you cannot skip when figuring out how to not stress about money, it’s this one. An emergency fund – savings that cover around 6 months’ worth of your expenses – is the primary security tool you can have. The idea is that even if you’re hit with the worst-case scenario – say lose your job – it will give you time and resources to bounce back.
2. Start Sinking Funds
Saving for inevitable expenses is another big one. Holidays, for example, are known to be a stressful time. But if your budget for them ahead, and save money little by little monthly, you’ll be able to spend when the time comes without having to stretch your paycheck. Say you need $500 for Christmas. Start saving $50 a month – and when it arrives, you won’t need to touch your paycheck.
3. Start Budgeting
A budget is also something that helps avoid money stress. It should give you the ability to control where your money is going, thus, avoid unnecessary expenses that could put you in a money hole.
4. Adopt More Frugal Lifestyle
When it comes to figuring out how to not stress about money, the big discovery many make is that they could be spending less than they are – which in turn would do wonders for their stress levels.
Having money doesn’t mean you need to spend it – cutting down on takeout, quitting smoking, switching to a cheaper car not only does wonders for your wallet but your health as well (aside from cutting down on stress, which is beneficial in itself).
5. Start Saving for Retirement
Emergency and sinking funds are the short-term strategies. When you’re done with them – you can move on to making long-term financial plans so that you can retire stress-free. Even if you can’t consult with a financial expert, the least you can do is take your employer's match for your 401k, max out your (Roth) IRA, and start reading up about investing in mutual funds (which are considered by many to be most stable investment).
How Do I Deal with a Financial Problem if I’ve Yet to Set up an Emergency Fund?
Even after figuring out how to not stress about money and employing all of our tips, you might still face a financial problem that will cause you to stress.
That’s because creating the security blanket that will cover you when things causing money stress pop up takes time. If an emergency occurs when your emergency fund is in place, you’ve got nothing to stress about. But if you get hit after just starting – you’re going to tweak your process a little.
Remember that panicking is a big no-no when thinking about how to not stress about money. Instead, try to analyze the situation as calmly as possible and ask yourself 2 questions:
- Will the problem get worse if I postpone dealing with it?
- Will, it cost me more money to fix it if I postpone dealing with it?
If the answer is no, you’ll need to hustle and get cash together from avenues that won’t add to your financial obligations – work overtime, get an internet freelance job, take a part-time job if you’re able to find one.
But if the answer is yes, that getting the cash together fast should be your priority. Title loans could help if that’s the case.
Why Title Loans?
Title loans are accessible and fast. As long as you’re over 18, own a car, and the car title is in your name and lien-free (meaning there are no outstanding loans against it) – you’re likely eligible for a title loan since your credit scores won’t influence your chances (you can apply even if your credit is bad or nonexistent). And if you’re looking for title loans in Delaware, then you’re in the right place!
Delaware Title Loans, Inc. accommodates all types of income. As long as you can pay off the loan, you’ll be set up with the payoff plan you can work with.
How Do I Apply for a Title Loan?
You can easily apply for title loans online. Just go to the Home Page of our website and fill out the online form. You’ll be contacted by a loan representative who’ll set up a meeting with you.
Bring your car, your lien-free car title in your name, and your government-issued ID to the meeting so that the representative can assess everything and decide if you qualify for the loan.
If you’re approved – you’ll get the cash the same day. And this entire process takes no more than 30-45 minutes on average.
Apply for Your Title Loan Today!
If your problem requires immediate attention and cannot be put off, don’t hesitate to apply for an online car title loan in Delaware. Don’t wait until your issue becomes bigger and needs more money to be invested. Get started with your title loan process today!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.
