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20 Mar 2019   /   0 comments

How to Save Money Living Paycheck to Paycheck


I think everyone who is struggling financially would like to know how to save money living paycheck to paycheck. We would love to help you come up with a plan to do just that! Even though we aren’t in the business of financial planning per se, we care deeply about consumer education so we are extending our website to include informational articles that answer questions about the DMV and financial planning. In this informational article, we will be discussing steps and general advice for saving money when it seems like it would be near impossible to do so.

How to save money living paycheck to paycheck

We knew from the day we opened our doors in 1994, that we would always make customer service our number one priority. As the oldest car title loan lender in California, we have tried tirelessly to put all of our years of experience in the lending industry to proper use. We pass on all of our knowledge onto you so that you might be able to attain a bright financial future for you and your loved ones as well.

In the 25 years that we have been active, we have lent title loans to thousands of customers who were in financial need all across New Mexico, Arizona, and California. If you follow the steps and advice, we have posited below then you are sure to get a better grip on your finances in next to no time at all. However, if you found us because you are in need of a title loan, then you can fill out our online application to get started right away.


Steps to Start Saving While Living Paycheck to Paycheck

Step 1

The first thing you ought to do when starting to save is to open a new bank account that you can keep separate from the account you regularly use. Try to find an account that’s harder to withdraw from and that gives you a higher interest rate so your savings can increase by just sitting there. Make an initial deposit into that new account no matter how small the deposit is. It’s a start and that’s what matters.

Step 2

Sit down to analyze all the bills that you pay every single month and see if there might be ways that you can cut them down a bit. For instance, you might be able to: find cheaper car insurance, cut your credit card interest payments by doing a balance transfer or a debt consolidation, ask if certain fees can be waived (you’d be surprised what can be forgiven if you ask nicely enough like a late rent fee or even a parking ticket).

Step 3

Create a new income stream on the side. It doesn’t need to be much. Make an extra $30 a month by watching videos or taking surveys online.

Step 4

Create a direct deposit for all of that extra revenue. Set up an automatic withdrawal and transfer of all the money that you saved and/or earned from following both steps two and three. By doing so, you won’t be tempted to spend the extra you have because it will be in the account that has been specifically opened for your savings.


General Tips for Saving When Living Paycheck to Paycheck

  • Learn how to budget well. Create a budget with all of your expenses included so that you can keep close track of where all your income is ending up. Check out our other resource page on making a personal budget to learn more.


  • Try to cut down your spending as much as possible. Make serious cuts to excessive and frivolous spending while still giving yourself room to indulge occasionally. If you cut them all out, then you will end up going on a crazy spending binge.


  • Even if it’s only a little bit of money that you can set aside each paycheck; do it anyway. Don’t feel bad if you can only spare an occasional five dollars to pop into your savings account. It’s much better than nothing at all and is bound to add up over time if you leave that account alone.

More Tips:

  • If your situation is extremely dire, then you may need to budget daily or micro-budget for a time. But if you do that for a set amount of time and are able to come up with a decent emergency fund then you can move to a less stringent form of budgeting.


  • Quitting a vice could save you a good chunk of cash every month. For instance, you could: quit smoking, cut back on alcohol, or not eat out so often. If you were to put all that money towards your savings, then you could get much healthier and probably have saved thousands by the end of the year.

With any luck, you are feeling more hopeful about your ability to save when coming to the end of this resource page. If you have any questions that you would still like to ask, then go ahead and give us a call. We would love to help you out. If you would like to get a title loan to help you with your financial struggles, then fill out our online application right away!

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