How can you find money in your budget to save?

Seventy six percent of Americans are living paycheck-to-paycheck. Fourty six percent have less than $800 in savings to cover an emergency, and 22% have less than $100. Only one in four Americans have enough cash reserve to cover six months expenses in the event of job loss or other emergency. Unfortunately, most of us are not much better when it comes to investing and planning for our retirements.

A healthy financial plan includes two distinctive types of savings – cash reserves and an investment portfolio. A fully-funded cash reserve—approximately three month’s salary—gives you the ability to handle unforeseen expenses and plan for the things you want to buy and do, without threatening your monthly expenses or investments. An investment portfolio is absolutely essential to your meeting your long-term financial security goals.

Makes sense, right? So why don’t we do it? The overwhelming response is there is nothing left to save after bills and other expenses are paid.

So, how can you find money in your budget to save? This article includes three key strategies to get you started.

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