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12 budgeting myths you need to stop believing

MoneyWise Logo By Katie Winterburn of MoneyWise | Slide 1 of 13: Ugh, the dreaded budget. The idea of living on a budget can be daunting, and putting a budget together sounds like a snore. But the truth is creating a budget will help you pay off your debts, boost your savings and reach your financial goals. It's crucial to tell fact from fiction when it comes to budgeting. If you Google "how to create a budget," not only will you end up with an overwhelming amount of information, but you also will find that a lot of it isn't remotely true. Here are 12 common budgeting myths we all need to stop believing — right now.

12 budgeting myths you need to stop believing

Ugh, the dreaded budget.

The idea of living on a budget can be daunting, and putting a budget together sounds like a snore. But the truth is creating a budget will help you pay off your debts, boost your savings and reach your financial goals.

It's crucial to tell fact from fiction when it comes to budgeting. If you Google "how to create a budget," not only will you end up with an overwhelming amount of information, but you also will find that a lot of it isn't remotely true.

Here are 12 common budgeting myths we all need to stop believing — right now.

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