The Best Way to Track Spending When You're Spending Too Much Money

March 18, 2021 | Mason Roberts

Tracking spending

Pursuing financial freedom is more than just about finding ways to make more money. You’ll need to make sure that you use that hard-earned money wisely without wasting it. In this article, we’re going to teach you some techniques that can be used when you find yourself spending too much.

The Best Way to Track Spending

1. Record

For starters, the best way to track spending should also include recording each transaction in whatever way you find most convenient. In simpler terms, that means writing down every dollar that comes in or goes out of your wallet and accounts.

Some people prefer to keep things simple by writing everything down on a piece of paper. Others may prefer using mobile apps to record their transactions or even an Excel spreadsheet.

Which one is the best method to use? Well, it’s whichever method you find to be the easiest to stick to. You don’t have to be very complex as long as you record each transaction you make.

2. Categorize

The best way to track spending is to then start categorizing every transaction you make when you spend your money. That is a tried and tested method that people have used when it comes to managing their finances.

Typically, those categories will include things like rent, food, entertainment, and bills. Of course, there are no fixed rules to the categories you can use to track your spending.

By doing this, you’ll be able to figure out which part of your life you’re spending too much money on. For example, if you’re spending too much on entertainment (e.g. spending too much when you’re out with your friends), then you’ll know which parts of your life you need to change.

3. Swipe

In this day and age, the best way to track spending can also include switching over to digital payment forms rather than using cash. That means using debit or credit cards, as well as e-wallets which are now becoming more and more common.

Paying for your purchases this way can be pretty helpful to curb your overspending. That’s because all of your transactions are automatically recorded, making it much easier for you to evaluate your spending and see what needs to change.

4. Review

Sometimes, it’s easy to overlook the areas in our life where we may be spending too much money. That’s why the best way to track spending isn’t just about recording everything. Instead, we must also review everything we have learned from monitoring our spending and being honest with ourselves.

Change Isn’t Easy

Changing our spending patterns isn’t easy. So, be patient with yourself when you’re tracking your spending and trying to become better at managing your money.

As you move towards healthier spending habits, you might stumble and make mistakes. That’s entirely normal. Just remember: this is a learning process, and you have to take it step-by-step.

Still, there may come a time when you find yourself needing to borrow money quickly to bridge the gap as you continue to develop better spending habits. If that time ever comes, rest assured that title loans can be the solution to your problems.

What Are Title Loans?

A toy car on title loan cash

Title loans are a convenient way to borrow money quickly when you need it the most. To secure the loan, you’ll need to use your lien-free title to your car. If Tennessee Title Loans, Inc. approves your application, you’ll get the money you need on the same day.

How Can Title Loans Help Me?

  • Minimal Paperwork - Unlike conventional loans, title loans require very little paperwork. All you need is your State-issued ID and the lien-free title to your car to get started.
  • Don’t Worry About Credit Scores - Whether your credit score is low, high, or non-existent, Tennessee Title Loans, Inc. will still work with you.
  • Quick Processing and Approval - The entire process can take as little as 30 minutes. That ensures you will never waste your time sitting around waiting for your money.
  • Keep Your Car - You’re only using your car’s title to secure the loan! Your daily life can continue as usual because you can drive your vehicle as you always do.

How To Get A Title Loan

  1. To get started with title loans online, visit our Home Page and fill out an online form. Double-check your details to make sure that everything is correct before you submit it.
  2. A representative from the company will call you to set up an appointment and explain how the process works.
  3. Bring your State-issued ID, your proof of income, your car title, and the vehicle itself to the appointment.
  4. The representative will then inspect your documents and your car to see if you qualify for the loan and name the amount you can get.
  5. If you qualify, and your application is approved, you’ll receive the money on that very same day.

Get Your Title Loan Today!

Remember, the best way to track spending should include recording and categorizing every transaction, switching over to digital forms of payment, and reviewing all of your transactions. But don’t worry about making mistakes as you learn to spend less!

You can always get a title loan from Tennessee Title Loans Inc. to get you through, and if you feel like this is the right time to apply, then start with the process now! You can also check out our Tennessee Title Loans locations page to find the store that’s closest to you, where you can possibly get the needed support with your process. Don’t wait and apply for your title loan today!