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

1. Budgeting Mistakes
You Should Avoid
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2. #CreditChat
bit.ly/budgetmistakes
Learn 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.

3. Q1: Do you think
budgeting is important?
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4. Keep in mind, you’re never too young and it’s
never too late to start a budget.
- @Steph_Steinberg
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5. Keep in mind, you’re never too young and it’s
never too late to start a budget.
- @Steph_Steinberg
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Click hashtag on any
slide to retweet.

6. Most personal finance experts recommend building an
emergency fund worth 3 to 6 months of your income.
- @Steph_Steinberg
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7. Most personal finance experts recommend building an
emergency fund worth 3 to 6 months of your income.
- @Steph_Steinberg
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Click hashtag on any
slide to retweet.

8. Budgeting is important to gauge your spending
and to make sure you pay yourself first.
- @magnify_money
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9. If you stick to a budget, you’ll have less
financial distress & it’s easier to save for retirement.
- @Steph_Steinberg
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10. The sooner a child learns how to “budget” the easier it
will be to manage their money when they get older.
- @MsMadamMoney
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11. Budgeting is super important! It can help by freeing up some cash,
cutting back on things not needed, and giving you control.
- @AdvantageCCS
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12. #CreditChat
Set a realistic budget.
Otherwise, you’ll just get frustrated and fail.
- @Steph_Steinberg

13. When I hear “budget,” I hear diet and deprivation.
So I have a spending plan that incorporates savings and investing.
- @MsMadamMoney
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14. Q2: What items on your
budget do you spend too
much on?
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15. #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

16. Gas is another major expense.
To get better gas mileage make sure
your tires are well inflated.
- @LeslieHTayneEsq
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17. If you’re a coffee drinker like me, go easy on the
lattes. One a day can add up to $100 a month.
- @Steph_Steinberg
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18. Q3: How can you save
money on groceries?
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19. Head to the store with a list & stick to it.
Limit time browsing so you don’t make impulse buys.
- @Steph_Steinberg
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20. Save on groceries by using coupons, shopping at
farmers’ markets for fruits and veggies & meats,
buy in build for nonperishables.
- @MsMadamMoney
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21. #CreditChat
I like to use @IbotaApp when I head to the
grocery store. - @Wisebread

22. Q4: What are ways to save
money on a Friday or
Saturday night?
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23. You don’t have to spend money to have fun.
A movie marathon or game night with friends or
family doesn’t cost a cent.
- @Steph_Steinberg
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24. Consider cooking dinner and having a movie
night at your house! Invite friends and ask
them to bring something!.
- @LeslieHTayneEsq
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25. Q5: What are your favorite
apps and websites to help
you save money?
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26. I love @RetailMeNot for finding coupons.
@RedLaserApp is good for comparison shopping.
- @Steph_Steinberg
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27. #CreditChat
Money-Saving Apps: Groupon, LivingSocial, FatWallet,
RetailMeNot, eBay, Amazon Deals, 6pm, Zappos - @AdvantageCCS

28. Q6: How can you save
money on electricity bills?
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29. A programmable thermostat can save you up
to 30% on your electricity bill.
- @Steph_Steinberg
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30. Take a look at your appliances. Upgrading
to more energy-efficient models can save a
lot of money in the long run.
- @Krissylynn
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31. Unplug appliances when you’re gone.
The Energy Dept says 5-10% of your electricity
is from devices plugged in 24 hrs/day
- @Steph_Steinberg
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32. You can save 3% on your heating bill for
every 1 degree you lower the thermostat.
- @Steph_Steinberg
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33. Q7: How can you reduce
spending on cable bills?
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34. If you pay for Internet, you can stream many programs
for a small fee. Netflix and Hulu come to mind.
- @consumeraction
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35. #CreditChat
If you’re a news junkie like me and need cable, call your provider
and try negotiating a lower rate. - @Steph_Steinberg

36. Over 7.6 million U.S. homes or 6.5% households
are cord-cutters, up from 5.1 million in 2010.
- @mikedelgado
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37. Best way to keep yourself from making memories is
staring at make believe ones. Cut cable.
- @phroogal
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38. Q8: Any final tips to help
others save more money?
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39. Pay yourself first. No exceptions.
- @BrokeMillennial
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40. 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
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41. Don’t be afraid to tell your friends and family,
you’re on a budget. They can help you stick to it.
- @Steph_Steinberg
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