Tired of Your Spending Freeze? When to Thaw Out Your Finances

April 3, 2021 | Peyton Sawyer

when to stop your spending freeze

When times get tough, people often consider doing a spending freeze to try and control their spending habits. This is an excellent solution for anybody that needs to save a certain amount of money and doesn’t mind cutting back on buying things that aren’t essential.

When To Stop Your Spending Freeze

What Is A Spending Freeze?

A spending freeze is where an individual or a family makes a decision not to spend any money that isn’t necessary for essential living. You can still pay all your bills on their due dates and purchase things like groceries, clothing (only when actually needed), medical needs, etc.

You cannot spend any money on eating out or going to the movies. In fact, entertainment is not considered essential, so you would not be spending even a dime on any type of entertainment. This probably sounds difficult to do, and we won’t lie - it is hard, but it’s also quite rewarding, especially when you see how much money you can save from doing a spending freeze!

How Do You Know When To Stop Your Spending Freeze?

Knowing when to stop your spending freeze is critical to your well-being. It’s not an easy task to withhold yourself from spending some cash on things you enjoy but don’t actually need. It’s even harder when you have your entire family on a spending freeze!

So how do you know when to stop your spending freeze? Typically, when you are debt-free or when you reached the goal you had set in the beginning.

However, if you have a considerable amount of debt and your spending freeze is causing all kinds of havoc in your household, then you might want to consider taking a pause.

What Is A Spending Freeze Pause?

A spending freeze pause is when a person or a family feels distressed from the pressure of the spending freeze and needs to take a break. Since there aren’t any set-in-stone rules for how to stop your spending freeze, you can go about it on your own terms.

However, you will want to make sure that you have a plan in place and that you don’t go crazy with your spending. It’s important to keep your goals in mind when taking a pause and then resume your spending freeze when the time comes that you are ready to dive in again.

It’s not easy to restrict your spending to the bare necessities, but folks worldwide have participated in spending freezes and were able to clean up all their finances.

Keeping an eye on the bigger picture here will help you make better decisions. Sometimes spending freezes can be too brutal for people who are used to buying whatever they want whenever they want it.

In that case, then they will need to thaw out their finances for a while and perhaps consider some alternative methods for paying off all their debt.

Some people have taken out bank loans to consolidate debt, but if your credit isn’t perfect or at least good, most banks won’t lend you the money needed to make a difference.

You can always consider looking into title loans, where you are essentially borrowing the money against your vehicle.

title loans wisconsin

What Are Title Loans?

Title loans are considered short-term loans where you are essentially borrowing funds by using the collateral of your vehicle. At Wisconsin Auto Title Loans, you can borrow up to $15,000 depending on the value and condition of your car.

Your vehicle title will be used as collateral for your title secured loan. Once your loan is paid in full, you will have your title back.

How Do You Get A Car Title Loan?

Applying for a title loan is very easy and can be done online. You just need to answer some questions and submit a form with all your details. Once you have submitted it, a representative will contact you to make arrangements for the approval process.

You will need to provide the following with your application:

  • Driver’s License or Government Issued State ID
  • Lien-Free Title to Your Vehicle
  • Your Vehicle for Inspection

Do You Need A Checking Account?

No, you do not need a checking account to apply for a title loan at Wisconsin Auto Title Loans, Inc. You just need the above in order to submit your application. Once you are approved, you can have access to your money in as little as thirty minutes.

Get Your Same-Day Title Loan Today

If you’re tired of your spending freeze and you want to start spending some money on little necessities that aren’t essential, it’s okay to do this from time to time.

If you find you could benefit from getting same-day title loans in Wisconsin to help pay off some of your debt, then that can be a good solution for consolidating your bills without getting a bank loan.

Follow our advice when you find yourself tired of your spending freeze.