If you are finding yourself living paycheck to paycheck these days, you are far from alone. Across the board, most family budgets are getting tighter thanks to inflation. If you are looking for ways to cover bills and make your money go further, we have a couple of ideas for you.
Pawnshops are a great community resource. They can help ease monthly financial hurdles and stop the vicious paycheck to paycheck cycle.
Taking out a pawn loan
If your salary takes care of the necessities but your direct deposits or checks aren’t always at the right times to pay your bills on time you might just need a temporary cash infusion. Getting a loan from a bank can be time a consuming hassle especially when you really only need a few dollars quickly to bridge the gap between now and when you get paid again to avoid late fees or disconnections.
For a pawn loan, all you need to do is provide an item that has collateral for the value of the amount you need to borrow, and your pawn shop will take that item, hold it, and give you the cash on the spot. Once you are in the position to be able to pay back the loan amount, you settle your account with the pawnbroker and get your item back. It’s just that simple!
ADVICE TIDBIT 1- Pay Yourself First (mark yourself as a bill on your budget)
Most people make the mistake of spending everything earned. Make the effort to take 10% of your paycheck and put it into a savings account. This small amount won’t affect much on a short-term basis, but as the years go by you will build an emergency fund for the times when you really need it.
ADVICE TIDBIT 2- Chop any unnecessary expenses (We all have them!)
Sit down and make a list of everything you buy and pay for during a month. Don’t leave out things like gas, lunches on the go, that favorite latte, or cigarettes if you smoke. It all adds up and it all counts.
Separate things into NEEDS and WANTS. See if you can identify some on the list of wants that can be cut back.
The idea is to have more cash flow coming in than going out.
ADVICE TIDBIT 3 – Live within your means
We all love the newest, latest, and greatest things, but do we really need a $1200 iPhone when a $100 Android still works for communication? Only you can decide things like this for your personal life, but living within your means, while it can mean making a few sacrifices, also means less debt, less struggle, and greater peace of mind.
Need a cash infusion to temporarily hold you over till payday? Don’t take out an expensive high-rate payday loan that likely will just create more problems down the road, come see us at First Pawn Jewelry and Loan of Naples, Florida. www.firstpawn.com
Two convenient Southwest Florida locations! Come see us! We are here to help.
First Pawn 889 Airport Road South, Naples, FL 34104 | 239-434-7296
First Pawn 1331 Homestead Rd N, Lehigh Acres, FL 33936 | 239-369-2274