How to Make Your Money Stretch Further Each Month
If there’s a small thin silver lining to the pandemic, it’s that more people have become interested in learning how to be frugal and how to make your money stretch.
If you’ve been living paycheck to paycheck up until now, losing heart in face of adversity may sound familiar to you. But it’s not time to despair yet, especially because you’ve come to the right place, as in this article, you’ll find some useful tips on how to make your money stretch till your next paycheck hits. And when you just can't get by, here's how a payday loan can help.
Read: How to break the paycheck-to-paycheck cycle.
How to Make Your Money Stretch
1. Review and Adjust Your Fixed Expenses
There’s no point in trying to figure out how to make your money stretch without figuring out where the money is going first. Review your bank statements and try to cut down as many lines of expense as possible. Things like cable, seldom-used subscription services, premium apps, memberships have to go. Try to adjust the rest – negotiate insurance rates and credit card payments, get a roommate to help with the rent, etc.
2. Stick to a Shopping List
Unplanned small expenses that pile up at the end of the month can make or break your finances. $5-10 may not seem like much when you’re buying something on a whim – but if you truly want to learn how to make your money stretch, you need to stop being spontaneous. Have a shopping list, know how much each item will cost, and stick to it while shopping.
3. Start Meal-Prepping
Food is typically one of the largest expenses for an average American. By cutting down on takeout and eating out and taking your lunch to work you could save up to a couple of hundred dollars a month. Just cook in a large batch on Saturday or Sunday and forget about it for the rest of the week.
Thrift stores could possibly be THE answer to how to make your money stretch. Not only are thrift stores a good place to get clothes, but they could carry a large selection of kitchenware, utensils, books, jewelry, etc. which means you can shop for anything you need and find it there, thus, save money.
5. Find Cheap Ways to Have Fun
Instead of eating out with friends, try to convince them to have a picnic in the park. Instead of buying a new book or a DVD – get them at your local library. Instead of a night out, convince your friends to get alcohol at a nearby supermarket and have a night in. There could be a cheaper alternative to almost anything you can think of – try to find it.
6. Get on a Budget
If you truly want to make money stretch, you should control where each dollar is going. This is where a budget comes in. Put the fixed expenses first, then budget for flexible must-have’s (like gas and groceries) and leave the wants to the last.
And the best part is, a budget is not only a money-management tool – but motivation as well. You’ll want to be thriftier when you see how it all adds up by the end of the month.
7. Start Saving
Technically saving money is not the answer to “how to make your money stretch for the month”, but it’s an important rule to follow when you think about potential emergencies that may take you by surprise.
Putting money towards your emergency fund means you’ll always have a stash to dig into whenever you find yourself facing larger expenses. Having an emergency fund means you can handle anything from having to replace a washing machine to unplanned medical expenses to a worth-case scenario like a job loss without having to add to your existing financial obligations.
Otherwise, you might have to resort to debt in case of an emergency, which will make stretching money from month to month harder in the future.
How to Deal with Emergencies Without the Emergency Fund
If you have encountered a time-sensitive problem while residing in South Carolina and have no emergency fund to cope with it, getting a South Carolina payday loan online could be the solution you need.
In case of emergencies like unplanned medical and vet bills, car problems, even rent and utilities, getting a payday loan, dealing with it immediately so that problem doesn’t escalate, and paying the loan off later is an absolute necessity rather than a personal preference. That’s why taking advantage of available options, such as South Carolina payday loans, is a smart financial decision.
What Are the Benefits of South Carolina Payday Loans?
South Carolina payday loans are fast and accessible. Anyone over 18 years of age with any job type can apply. We will accommodate any sort of income, and you can get approved even if your score is bad or nonexistent altogether!
The entire procedure usually lasts around 30-40 minutes and, if approved, you get the cash the same day, enabling you to deal with the emergency ASAP.
How Do I Apply for a South Carolina Payday Loan?
- Get the required items in order: your government-issued ID, your most recent pay stub, a blank check from an active checking account in your name;
- Fill out the quick cash online form on the Main Page of our website;
- Answer your phone when the loan representative calls you to set up a meeting;
- Take the required items to the meeting and have the representative assess them to determine if you qualify for the loan;
- Get approved and receive your cash!
Apply for a South Carolina Payday Loan Today!
Making your money stretch till your next paycheck comes in is certainly not an easy task, yet, it’s possible, with the right mindset and a bit of willpower.
And if the emergency is forcing you to spend money NOW, don’t waste your time and apply for a payday loan in South Carolina today by calling us directly or filling out a short intake form.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.