Budgeting 101: Steps to Stop Living Paycheck-to-Paycheck
Join our weekly #CreditChat on Periscope, YouTube Live, Twitter, and Snapchat every Wednesday at 3 p.m. ET. This week, we talked about the steps we need to take to stop living paycheck to paycheck. The panel included: Ash Cash: Director of Financial Education at Bank Mobile; Bev O’Shea: Personal Finance writer for NerdWallet; Rod Griffin: Director of Public Education at Experian and Mike Delgado: Director of Social Media at Experian.
We’re also featuring financial tips all week on Snapchat.
Questions We Discussed:
- Q1: Why is a budget important?
- Q2: What questions should you ask yourself before you prepare a budget?
- Q3: Ok, you’re ready to create a budget, but where do you begin?
- Q4: What items should a budget include?
- Q5: How do you create a budget for a variable income?
- Q6: When creating a budget, is it better to plan to save as much as possible or reduce debt?
- Q7: How can we motivate ourselves to stick to our budget?
- Q8: What do you do if a significant other is not on the same page or has a harder time sticking to a budget?
- Q9: How often should you review/adjust your budget?
- Q10: Any final tips for someone new to budgeting?
View the Complete Discussion on Storify:
If you’ve never heard about #CreditChat, here is a brief overview:
Resources:
How to Escape the Paycheck to Paycheck Cycle via Wisebread
Infographic: A Crash Course in Budgeting via Ask Experian
7 Secrets to Creating a Successful Budget via Bankrate
Experian Etc: Budgeting Tips From Amanda Abella via Ask Experian
9 Keys to Budgeting for a Fluctuating Income via The Simple Dollar
How to Budget on a Variable or Irregular Income via Money Under 30
These Guidelines Will Help You Decide Whether You Should Pay Down Debt or Save via Bankrate