Budgeting Mistakes You Should Avoid

Download Budgeting Mistakes You Should Avoid

Post on 20-Sep-2014

2 views

Category:

Economy & Finance

1 download

Embed Size (px)

DESCRIPTION

In this #CreditChat, Stephanie Steinberg from U.S. News & World Report shares ways you can avoid making budgeting mistakes.

TRANSCRIPT

<ul><li><p>Budgeting Mistakes You Should Avoid</p><p>#CreditChat </p></li><li><p>#CreditChat </p><p>bit.ly/budgetmistakesLearn more about this #CreditChat with Stephanie Steinberg:</p><p>Every Wednesday at 3 p.m. ET, we feature a favorite personal finance writer in our Experian #CreditChat on Twitter. </p><p>This week, we were honored to have Stephanie Steinberg from U.S. News and World Report as our guest. Follow her on Twitter @Steph_Steinberg.</p></li><li><p>Q1: Do you think budgeting is important?</p><p>#CreditChat </p></li><li><p>Keep in mind, youre never too young and its never too late to start a budget. </p><p> - @Steph_Steinberg</p><p>#CreditChat </p></li><li><p>Keep in mind, youre never too young and its never too late to start a budget. </p><p> - @Steph_Steinberg</p><p>#CreditChat </p><p>Click hashtag on any slide to retweet.</p></li><li><p>Most personal finance experts recommend building an emergency fund worth 3 to 6 months of your income.</p><p>- @Steph_Steinberg</p><p>#CreditChat </p></li><li><p>Most personal finance experts recommend building an emergency fund worth 3 to 6 months of your income.</p><p>- @Steph_Steinberg</p><p>#CreditChat </p><p>Click hashtag on any slide to retweet.</p></li><li><p>Budgeting is important to gauge your spending and to make sure you pay yourself first. </p><p> - @magnify_money</p><p>#CreditChat </p></li><li><p>If you stick to a budget, youll have lessfinancial distress &amp; its easier to save for retirement.</p><p>- @Steph_Steinberg</p><p>#CreditChat </p></li><li><p>The sooner a child learns how to budget the easier it will be to manage their money when they get older. </p><p> - @MsMadamMoney</p><p>#CreditChat </p></li><li><p>Budgeting is super important! It can help by freeing up some cash,cutting back on things not needed, and giving you control. </p><p> - @AdvantageCCS</p><p>#CreditChat </p></li><li><p>#CreditChat </p><p>Set a realistic budget. Otherwise, youll just get frustrated and fail. </p><p> - @Steph_Steinberg</p></li><li><p>When I hear budget, I hear diet and deprivation. So I have a spending plan that incorporates savings and investing. </p><p> - @MsMadamMoney</p><p>#CreditChat </p></li><li><p>Q2: What items on your budget do you spend too much on?</p><p>#CreditChat </p></li><li><p>#CreditChat </p><p>People spend too much on eating lunch out everyday and takeout dinners. Save money by cooking at home and bringing meals to work. </p><p> - @Steph_Steinberg</p></li><li><p>Gas is another major expense. To get better gas mileage make sure your tires are well inflated. - @LeslieHTayneEsq</p><p>#CreditChat </p></li><li><p>If youre a coffee drinker like me, go easy on the lattes. One a day can add up to $100 a month. </p><p> - @Steph_Steinberg</p><p>#CreditChat </p></li><li><p>Q3: How can you save money on groceries?</p><p>#CreditChat </p></li><li><p>Head to the store with a list &amp; stick to it.Limit time browsing so you dont make impulse buys. </p><p> - @Steph_Steinberg</p><p>#CreditChat </p></li><li><p>Save on groceries by using coupons, shopping at farmers markets for fruits and veggies &amp; meats, </p><p>buy in build for nonperishables. - @MsMadamMoney</p><p>#CreditChat </p></li><li><p>#CreditChat </p><p> I like to use @IbotaApp when I head to the grocery store. - @Wisebread</p></li><li><p>Q4: What are ways to save money on a Friday or Saturday night?</p><p>#CreditChat </p></li><li><p>You dont have to spend money to have fun. A movie marathon or game night with friends or </p><p>family doesnt cost a cent. - @Steph_Steinberg</p><p>#CreditChat </p></li><li><p>Consider cooking dinner and having a movie night at your house! Invite friends and ask </p><p>them to bring something!. - @LeslieHTayneEsq</p><p>#CreditChat </p></li><li><p>Q5: What are your favorite apps and websites to help you save money?</p><p>#CreditChat </p></li><li><p>I love @RetailMeNot for finding coupons.@RedLaserApp is good for comparison shopping. </p><p> - @Steph_Steinberg</p><p>#CreditChat </p></li><li><p>#CreditChat </p><p> Money-Saving Apps: Groupon, LivingSocial, FatWallet, RetailMeNot, eBay, Amazon Deals, 6pm, Zappos - @AdvantageCCS</p></li><li><p>Q6: How can you save money on electricity bills?</p><p>#CreditChat </p></li><li><p>A programmable thermostat can save you up to 30% on your electricity bill. </p><p> - @Steph_Steinberg</p><p>#CreditChat </p></li><li><p>Take a look at your appliances. Upgrading to more energy-efficient models can save a lot of money in the long run.- @Krissylynn</p><p>#CreditChat </p></li><li><p>Unplug appliances when youre gone.The Energy Dept says 5-10% of your electricity </p><p>is from devices plugged in 24 hrs/day - @Steph_Steinberg</p><p>#CreditChat </p></li><li><p>You can save 3% on your heating bill for every 1 degree you lower the thermostat. </p><p> - @Steph_Steinberg</p><p>#CreditChat </p></li><li><p>Q7: How can you reduce spending on cable bills?</p><p>#CreditChat </p></li><li><p>If you pay for Internet, you can stream many programs for a small fee. Netflix and Hulu come to mind. </p><p> - @consumeraction</p><p>#CreditChat </p></li><li><p>#CreditChat </p><p> If youre a news junkie like me and need cable, call your provider and try negotiating a lower rate. - @Steph_Steinberg</p></li><li><p>Over 7.6 million U.S. homes or 6.5% households are cord-cutters, up from 5.1 million in 2010. </p><p> - @mikedelgado</p><p>#CreditChat </p></li><li><p>Best way to keep yourself from making memories is staring at make believe ones. Cut cable. </p><p> - @phroogal</p><p>#CreditChat </p></li><li><p>Q8: Any final tips to help others save more money?</p><p>#CreditChat </p></li><li><p>Pay yourself first. No exceptions. - @BrokeMillennial</p><p>#CreditChat </p></li><li><p>Pretend you make less money than you do. Once you get used to living below your means, you can save a whole lot.- @GenY_Girl</p><p>#CreditChat </p></li><li><p>Dont be afraid to tell your friends and family, youre on a budget. They can help you stick to it. </p><p> - @Steph_Steinberg</p><p>#CreditChat </p></li><li><p>#CreditChat </p><p> Join us every Wednesday at 3 p.m. on Twitter!@Experian_US </p></li><li><p>#CreditChat </p><p> Join us every Wednesday at 3 p.m. on Twitter!@Experian_US </p><p>Click here to find out about our next chat!</p></li></ul>