Many Americans struggle financially, living paycheck to paycheck, hoping they have enough to cover all their bills at the end of the month. Life is easier if you have a cash cushion or an emergency fund, but how do you save when there is not much fat in your budget?

First, you need to find out where your money is going. Start by tracking all your spending for 30 days. Everything, even a pack of gum, should be noted using any tracking method you prefer – a notebook, your smartphone, an online spreadsheet, whatever works best for you. Then categorize each expense. Start with these essentials:

• Rent/mortgage
• Utilities
• Food
• Transportation to get to your job
• Healthcare – prescriptions and co-pays

These five are priorities that must be paid each month. Everything else, like clothing, cosmetics, gym membership, etc., are areas where you can cut back and save a little. Here are a few other saving suggestions:

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