budgeting mistakes you should avoid

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

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  • Budgeting Mistakes You Should Avoid

    #CreditChat

  • #CreditChat

    bit.ly/budgetmistakesLearn more about this #CreditChat with Stephanie Steinberg:

    Every Wednesday at 3 p.m. ET, we feature a favorite personal finance writer in our Experian #CreditChat on Twitter.

    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.

  • Q1: Do you think budgeting is important?

    #CreditChat

  • Keep in mind, youre never too young and its never too late to start a budget.

    - @Steph_Steinberg

    #CreditChat

  • Keep in mind, youre never too young and its never too late to start a budget.

    - @Steph_Steinberg

    #CreditChat

    Click hashtag on any slide to retweet.

  • Most personal finance experts recommend building an emergency fund worth 3 to 6 months of your income.

    - @Steph_Steinberg

    #CreditChat

  • Most personal finance experts recommend building an emergency fund worth 3 to 6 months of your income.

    - @Steph_Steinberg

    #CreditChat

    Click hashtag on any slide to retweet.

  • Budgeting is important to gauge your spending and to make sure you pay yourself first.

    - @magnify_money

    #CreditChat

  • If you stick to a budget, youll have lessfinancial distress & its easier to save for retirement.

    - @Steph_Steinberg

    #CreditChat

  • The sooner a child learns how to budget the easier it will be to manage their money when they get older.

    - @MsMadamMoney

    #CreditChat

  • Budgeting is super important! It can help by freeing up some cash,cutting back on things not needed, and giving you control.

    - @AdvantageCCS

    #CreditChat

  • #CreditChat

    Set a realistic budget. Otherwise, youll just get frustrated and fail.

    - @Steph_Steinberg

  • When I hear budget, I hear diet and deprivation. So I have a spending plan that incorporates savings and investing.

    - @MsMadamMoney

    #CreditChat

  • Q2: What items on your budget do you spend too much on?

    #CreditChat

  • #CreditChat

    People spend too much on eating lunch out everyday and takeout dinners. Save money by cooking at home and bringing meals to work.

    - @Steph_Steinberg

  • Gas is another major expense. To get better gas mileage make sure your tires are well inflated. - @LeslieHTayneEsq

    #CreditChat

  • If youre a coffee drinker like me, go easy on the lattes. One a day can add up to $100 a month.

    - @Steph_Steinberg

    #CreditChat

  • Q3: How can you save money on groceries?

    #CreditChat

  • Head to the store with a list & stick to it.Limit time browsing so you dont make impulse buys.

    - @Steph_Steinberg

    #CreditChat

  • Save on groceries by using coupons, shopping at farmers markets for fruits and veggies & meats,

    buy in build for nonperishables. - @MsMadamMoney

    #CreditChat

  • #CreditChat

    I like to use @IbotaApp when I head to the grocery store. - @Wisebread

  • Q4: What are ways to save money on a Friday or Saturday night?

    #CreditChat

  • You dont have to spend money to have fun. A movie marathon or game night with friends or

    family doesnt cost a cent. - @Steph_Steinberg

    #CreditChat

  • Consider cooking dinner and having a movie night at your house! Invite friends and ask

    them to bring something!. - @LeslieHTayneEsq

    #CreditChat

  • Q5: What are your favorite apps and websites to help you save money?

    #CreditChat

  • I love @RetailMeNot for finding coupons.@RedLaserApp is good for comparison shopping.

    - @Steph_Steinberg

    #CreditChat

  • #CreditChat

    Money-Saving Apps: Groupon, LivingSocial, FatWallet, RetailMeNot, eBay, Amazon Deals, 6pm, Zappos - @AdvantageCCS

  • Q6: How can you save money on electricity bills?

    #CreditChat

  • A programmable thermostat can save you up to 30% on your electricity bill.

    - @Steph_Steinberg

    #CreditChat

  • Take a look at your appliances. Upgrading to more energy-efficient models can save a lot of money in the long run.- @Krissylynn

    #CreditChat

  • Unplug appliances when youre gone.The Energy Dept says 5-10% of your electricity

    is from devices plugged in 24 hrs/day - @Steph_Steinberg

    #CreditChat

  • You can save 3% on your heating bill for every 1 degree you lower the thermostat.

    - @Steph_Steinberg

    #CreditChat

  • Q7: How can you reduce spending on cable bills?

    #CreditChat

  • If you pay for Internet, you can stream many programs for a small fee. Netflix and Hulu come to mind.

    - @consumeraction

    #CreditChat

  • #CreditChat

    If youre a news junkie like me and need cable, call your provider and try negotiating a lower rate. - @Steph_Steinberg

  • Over 7.6 million U.S. homes or 6.5% households are cord-cutters, up from 5.1 million in 2010.

    - @mikedelgado

    #CreditChat

  • Best way to keep yourself from making memories is staring at make believe ones. Cut cable.

    - @phroogal

    #CreditChat

  • Q8: Any final tips to help others save more money?

    #CreditChat

  • Pay yourself first. No exceptions. - @BrokeMillennial

    #CreditChat

  • 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

    #CreditChat

  • Dont be afraid to tell your friends and family, youre on a budget. They can help you stick to it.

    - @Steph_Steinberg

    #CreditChat

  • #CreditChat

    Join us every Wednesday at 3 p.m. on Twitter!@Experian_US

  • #CreditChat

    Join us every Wednesday at 3 p.m. on Twitter!@Experian_US

    Click here to find out about our next chat!