Thank you for visiting www.checkintocash.com. For information about our products and services, including assistance with processing an application for credit, please call 877-276-9958 toll-free.Skip to main content
Here are 5 Suggestions For a Financially Smart Year
Tom Hartford, Senior Editor
April 16th, 2020
Affected by COVID-19? Here are a few resources to help during this unprecedented situation.
On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law to aid individuals and businesses impacted by the COVID-19 pandemic. This bill is the largest of its kind in U.S. history.
Individuals will receive tax credits in the form of a check or direct deposit. No action is required to receive this benefit. This includes $1,200 per adult and $500 per child to individual filers earning less than $75,000 annually, along with other stipulations. Track your Stimulus Check here.
This CARES Act also includes expanded unemployment benefits. Requirements now include self-employed, independent contractors, gig economy workers, and more. To apply, contact your state unemployment office. Find their contact information on the U.S. Department of Labor website.
At this time, mortgage lenders and servicers can provide payment deferral of up to 180 days on federally backed loans. If needed, contact your mortgage provider to discuss deferring mortgage payments.
If you cannot pay rent, talk with your housing provider, as you may be protected under the CARES Act. Read more about COVID rent relief here.
Let’s face it. It’s been a rough year for us all. And perhaps you made a few poor financial decisions last year that cost you. Don’t worry, it happens to the best of us. The good news is there’s no better time to start fresh than today. Let’s get those finances back on track in 2020.
If you’d like to leave bad decisions in the past and you’re ready to turn over a new leaf, we’ll talk you through 5 easy tips to having a financially smart year.
Before you do anything, you need to take a hard look at all your monthly expenses and your income.
Not sure where your money goes? Stop throwing receipts away and track everything. If you buy it, write it down. Determine how much you spend on groceries, gas, utilities, phone service, eating out, rent, and donations so you know exactly where every dollar goes.
You also need to take a hard look at every dollar that comes your way. If you work an hourly job, it can be tricky knowing your average pay. One good way to do this is to add up the total earned over the last six months and divide that by six. That’s your average monthly income.
Tip #2: Build a Budget
The word budget may make you bristle or recoil in fear, but a budget can be your friend. Having one, understanding it, and using it every day can move you toward a lifetime of financial freedom. It’s incredibly important to follow your budget with discipline.
Once you understand the amount of money you make every month and what your required monthly expenses are, write out a budget that ensures you can save as much as possible. To avoid blowing all your extra cash at once, give yourself a small weekly or monthly allowance. Let this be the only money you spend on extra non-essential items.
If only we could purchase whatever we wanted without thinking about the consequences. Unless you’re filthy rich, that’s not the best route to a financially smart year. Instead, try to put thought into every single purchase you make.
If you’ve got a budget, you’re a step ahead. But it doesn’t stop there. Clip coupons, buy generic, and don’t buy so much food that it goes rotten before you get to it. Remember, you’re shopping with a purpose, and that purpose is to have a financially smart year in 2020 and beyond.
Tip #4: Change Your Pay Dates
Do you struggle to keep up because your bills are all due at the same time each month? Request that your payment dates be changed. With a phone call to your landlord, credit company, or utility provider, you may be able to change the day your monthly payment is due.
Our Suggestion:Try staggering your bills so some fall after your first payday, while others follow your second payday, and so forth. Do this and you won’t fear the first, fifteenth, or thirtieth of any month.
Tip #5: Negotiate on Everything
Did you know that most businesses have flexibility on their prices? From retail to service providers, asking for a better price often works. Has your refrigerator kicked the dust? Ask the manager of the appliance store how low the price can go on a replacement. Considering a cheaper cell phone provider? Call your current provider and tell them. Then, ask if they’ll drop your rate.
Often they will, but you’ve got to ask first. And if not, don’t be afraid to shop around. Most businesses match their competitors’ rates and are eager to get your business.
We hope these five healthy financial habits will help you to live your best financially smart year yet. Make 2020 the year you finally get your finances in check.
Need a Loan?
Check Into Cash is here to help. You may qualify for a Payday Loan to help you pay your next utility bill. Or, check into our Installment Loans that allow more funds upfront, with a longer payback period. See what’s available in your area below.
CASH 101: How a Prepaid Debit Card Works Tom Hartford, Senior Editor December 28th, 2020 Affected by COVID-19? We've pulled together a few resources to help during this unprecedented situation....
Ready to Get Started?
Whether you want to apply for an online loan or prefer to visit your nearest store, it all starts with the click of a button. Click below to take the first step toward improving your financial situation.
The information provided on this website does not, and is not intended to, constitute legal or financial advice. Rather, all information, content, and materials available on this site are only meant for general informational purposes. Information on this website may not include the most up-to-date legal, financial or other information. This website contains links to other third-party websites. Such links are only for the convenience of the reader, user or browser. We do not recommend or endorse the contents of the third-party sites nor are the owners of such third-party sites recommending or endorsing our services. Check Into Cash is not affiliated with nor endorsed by any of the websites, companies or entities mentioned in this blog. See a licensed attorney for legal advice and see a certified public accountant or financial planner for financial advice. No reader, user, or browser of this site should act or refrain from acting on the basis of information on this site without first seeking professional advice. All liability with respect to actions taken or not taken based on the contents of this site are hereby expressly disclaimed. The content on this posting is provided “as is,” and no representations are made that the content is error-free.
For rates and terms in your state of residence, please visit our Rates and Terms page. As a member of CFSA, Check Into Cash abides by the spirit of the Fair Debt Collection Practices Act (FDCPA) as applicable to collect past due accounts. Delinquent accounts may be turned over to a third party collection agency which may adversely affect your credit score. Non-sufficient funds and late fees may apply. Automatic renewals are not available. Renewing a loan will result in additional finance charges and fees.
For online Customer Support please contact us at 1-877-262-2274.