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Americans do a pretty poor job of saving their money, both in terms of retirement savings and saving for rainy-day expenses. The extent of the problem may surprise you -- just take a look at some of the statistics.

Bad saving habits
As a whole, Americans simply don't like to save money for any reason. Some people have legitimate reasons for not saving much -- for example, using extra cash to pay down credit card debt or student loans. However, others simply love to go out to eat, buy new clothes, and do other expensive activities a lot more than they should.

Whatever the reasons, our savings habits are just bad. The statistics don't paint a pretty picture:

42% of American workers live paycheck to paycheck., including 25% of those earning more than $100,000 per year.

29% of American workers have less than $1,000 in savings.

Half have less than one month's income saved.

The personal savings rate in 2014 was just 4.4%, meaning that out of every $1,000 earned, the average American spent all but $44.

Millennials have a savings rate of negative 2%, thanks to factors like high student loan debt and skyrocketing rent prices.

Approximately 10 million U.S. households have no bank account whatsoever.

But we sure love to spend
Many people's excuses for not saving include things like, "I haven't gotten a raise in years, while my cost of living keeps going up." This may be true in a lot of cases, but a major reason we're not saving is simply because we love to spend our money.

The average American household has total debt of $117,951.

There are nearly 1.9 billion active credit card accounts in the U.S., split among 199.8 million cardholders. That's nearly 10 per consumer. Keep in mind that this figure includes corporate credit cards, as well as personal.

Total U.S. credit card debt is $793.1 billion.

Americans spent $70 billion playing the lottery in 2014. That's about $300 per adult.

Emergency fund? What's that?
Experts say that you should have six months' worth of living expenses in a readily accessible emergency fund. And this may be a lot more than you think. While six months is an ideal emergency fund, many people don't even have a fraction of that amount.

52% of Americans couldn't cover a $400 unforeseen expense without borrowing the money or selling something.

Only 17% of the population has an emergency fund that could last for three to five months.

2.5 million Americans took out car title loans in 2014 to cover expenses -- one of the worst types of debt there is.

The retirement crisis is real
Social Security is by no means enough to support a reasonable quality of life after retirement, yet too many Americans are failing to set anything aside for their future. As a general rule, you should anticipate that you'll need 80% of your pre-retirement income in order to maintain your lifestyle into your golden years; if you make $100,000 per year now, you'll need $80,000 per year from Social Security and your savings. As you can see, most Americans are not even close to this benchmark.

Only 18% of Americans are "very confident" they'll have enough saved for retirement.

In order to withdraw $5,000 per month for 30 years, you'll need to have $1,060,751 in retirement savings, assuming 6% annual investment returns and 2% inflation.

In contrast to the previous statistic, the average 50-year-old has just $42,797 saved.

36% of Americans are not saving at all for retirement.

93% of American workers have access to a 401(k) or similar retirement plan.

But only 67% contribute enough to their 401(k) to take full advantage of their employer's matching contributions.

If you wait to start saving until you're 45, you'll need to set aside three times as much each month to retire comfortably as someone who started at 25.

Do something about it
If one or more of these statistics describes you, now is as good a time as any to do something about it. Start small. For example, contribute $50 per paycheck to an emergency fund or savings account until you have a decent cushion. Or maybe increase your 401(k) contributions by just 1% of your salary each year until you're on pace to build the retirement nest egg you need. You may be surprised how much of an impact just a small increase can have.

Feb 1, 2016 at 6:40AM

Investment Planning

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How to Invest $100 [for 2018] 💵 | Investing for Beginners When You Don't Have a Ton of Money

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Have $100 to spare? Alright... Let's get this investing party started. Here's how I'd suggest you start investing with just $100. And I'm not talking about just putting that crisp $100 bill into a fancy savings account. I'm talking about investing it into something that matters.

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Mark Wilson/Getty Images

"When a person with money meets a person with experience, the one with experience ends up with the money and the one with money leaves with experience."
This was Warren Buffett's response, on his 87th birthday, when asked about his best investment advice.

He says that experience is the ultimate key to be a successful investor.

However, what about those who are new to investing? What if you don't have any experience?

Well, fortunately you can learn from investors who DO have experience - investors like Warren Buffett himself.

Take a look at these 8 proven investment tips from Warren Buffett:

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Warren Buffett's best investing advice for beginners

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"When a person with money meets a person with experience, the one with experience ends up with the money and the one with money leaves with experience." This was Warren Buffett's response, on his 87th birthday, when asked about his best investment advice. He says that experience is the ultimate key to be a successful investor.

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Challenge yourself to zero-spend days

David of Zero Day Finance, who goes by only his first name online, uses a simple strategy to minimize his spending. The 26-year-old New Yorker commits to at least one "zero spend" day a week, during which he actively avoids buying anything, including a morning coffee or an item from the drug store.

David tracks his progress with the challenge on his blog, where he "collects" zero spend days and pushes himself to fit as many of them as possible into a week. By gamifying his spending, he stays motivated to save.

Since starting the challenge six months ago, David has saved $18,432, cutting his monthly spending from around $4,700 to $3,170. That's a 33 percent decrease and saves him enough to max out his 401(k).

Cut out convenience

You're not going to go broke buying coffee every morning. But if you're hitting Starbucks, taking cabs and ordering takeout on a regular basis, it can start to make a dent in your budget. As financial expert and former CNBC television host Suze Orman says of costs like daily lattes and avocado toast: "It adds up big time."

"Stop leasing cars, stop eating out, stop doing the things that's wasting your money and makes your life easier, because in the long run it's going to make it harder," Orman told CNBC's "Power Lunch" in June.

Take inventory of your spending habits and decide what's worth the price of convenience and where you can make some cuts. Your morning latte might be worth giving up your Uber habit.

Pause before checkout

Cherie and Brian Lowe paid off more than $127,000 in debt in four years by working to both increase their income and pare down their expenses. While many larger factors contributed to their success, including building an emergency fund and rejiggering their tax withholdings, Cherie's No. 1 money-saving trick is simple.

"Every time you check out at the grocery store, you need to look in your cart and find three to five items that you don't need," she tells CNBC Make It. "You will save $5 to $10 every time you shop without cutting a single coupon."

The tactic, which could apply to online purchases as easily as in-person ones, works because it puts a barrier between placing items in your cart and actually paying for them. That shaves down your bills.

Track your spending

If you don't know where your money is going, it's hard to see where you can spend less. Tracking your expenses lays everything bare: You know how much you spend on necessities, such as groceries, or non-essentials, like nights out.

Take it from Steve and Courtney Adcock, who set aside up to 70 percent of their combined income to retire in their 30s. If you want to bank half your income or more, the Adcocks recommend recording your purchases.

"We know exactly what we bring in and exactly what we spend - and on what," says Adcock. "Knowing where our money goes is critical to maximizing our savings and pinpointing where we could probably cut back."

They prefer using an Excel spreadsheet, but sites like Personal Capital, Mint and You Need a Budget will keep track of your purchases for you.

Make a list

Don't go shopping blind. Believe me, I've been there: Cruising down the aisles of Target, it's easy to throw in a bottle of shampoo here (I'll use it eventually) or a pack of cute stationery there (It's only $4!), but it all adds up. To combat this, I employ a simple trick: I make a list of exactly what I need before entering any store.

Prior to grocery shopping, I develop a meal plan and list out every ingredient I need. The same goes for CVS runs.

Focusing on my list puts me on a mission. It makes me want to grab only what I need so I can check everything off, rather than leisurely perusing every aisle, casually tossing items in my cart as I go.
Like this story? Like CNBC Make It on Facebook!

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Challenge yourself to zero-spend days David of Zero Day Finance, who goes by only his first name online, uses a simple strategy to minimize his spending. The 26-year-old New Yorker commits to at least one "zero spend" day a week, during which he actively avoids buying anything, including a morning coffee or an item from the drug store.

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Created using PowToon -- Free sign up at http://www.powtoon.com/youtube/ -- Create animated videos and animated presentations for free. PowToon is a free tool that allows you to develop cool animated clips and animated presentations for your website, office meeting, sales pitch, nonprofit fundraiser, product launch, video resume, or anything else you could use an animated explainer video.

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5 Money Saving Tips From America's Most Frugal Mom

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If there's anyone who knows a thing or two about saving money, it's Jordan Page, the self-professed "Queen of Frugal."

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When i grow up i hope to make financial good decisions. After a bunch of reading much of it boils down into saving money , like setting a certain percent of income toward money. Though it is difficult there is no doubt it will reap benefits.I hope to do work in the business field which will require extensive knowledge in this area.

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3 Self made millionaires and their tips 

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3 Self made millionaires and their tips 

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When it comes to building wealth, the formula is simple: save more and spend less. Of course, that's easier said than done.

To help you start saving more, we rounded up tips from self-made millionaires who have socked away lots of money.

From millionaire entertainers to everyday people who felt the need to turn around their financial lives, here are great savers' top strategies.

1. Automate everything
In just five years, Grant of Millennial Money went from having $2.26 in his bank account to $1 million. During his five-year journey to seven figures, in addition to focusing on earning, he saved 50% of his income.

The key to saving half your income, Grant says, is to make things automatic: He calls that "essential." He recommends talking to your HR department and having a portion of your income sent to a savings or investment account. This is in addition to contributing to your 401(k), Grant notes.

He's not the only one who advises putting your financial plan on auto-pilot. As self-made millionaire David Bach writes in " The Automatic Millionaire," automating your finances is "the one step that virtually guarantees that you won't fail financially. ... You'll never be tempted to skimp on savings because you won't even see the money going directly from your paycheck to your savings accounts."

Courtesy of Millennial Money

2. Generate more than one income and save the largest
We can't all be Jay Leno, but we can save like he does. From the moment the comedian entered the working world, he has always had two incomes. "I'd bank one and I'd spend one," Leno tells CNBC. And he made sure to spend the smaller amount.

He kept the habit even after his career took off. When he started hosting NBC's "The Tonight Show," he booked himself at least 150 comedy show gigs a year, "so I never had to touch the principal," Leno says. To this day, he's never spent a dime of his "Tonight Show" money.

Start by thinking about how you can generate more money. Next, employ Leno's strategy: Save the larger form of income and spend the smaller one.

3. Use the "50-30-20 percent rule"

Kyle Taylor of The Penny Hoarder, who went from cash strapped to self-made millionaire in a matter of years, says one simple formula has helped him save, particularly when dealing with windfalls, like a cash gift or bonus.

It's called the "50-30-20 percent rule." Fifty percent of the money goes straight to the bank - into your checking account, emergency fund, or a long-term savings account - while 30 percent goes towards funding your lifestyle, and 20 percent goes towards fun.

"Having those percentages set up ahead of time will give you the freedom and the control to make sure you're making a wise financial decision," Taylor says.

Need more inspiration to save more and spend less? Check out:

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3 self-made millionaires share their No. 1 money-saving trick

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When it comes to building wealth, the formula is simple: save more and spend less. Of course, that's easier said than done. To help you start saving more, we rounded up tips from self-made millionaires who have socked away lots of money.

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Would you be interested in learning the secret to saving money? Fortunately, there are a few secrets that can be used to save money, even if it doesn't feel like you have any money to save. However, these secrets are really not secrets at all, but instead are best practices in creating a budget, staying out of debt, and building your savings.

Saving Money Secret #1: Budgeting

First, you need to create a budget. Before you can even dream about saving money, you have to know where your money is going. How can anyone decide where to make cuts in spending or where to find extra cash to save if they don't know how their money is being spent? They can't, and that's why a budget is so important.

Creating a budget doesn't have to be an onerous process. However, you do need to find out where your money is going. You want to make a list of your monthly expenses including housing, utilities, groceries, debt payments, and entertainment. Once you have a clear picture of how much you're spending in a typical month, you can look for trends and problem areas. After you've found the problem areas, you'll have a better idea of where you can cut back and by how much. For example, you might go out to dinner multiple times, or order expensive takeout. Perhaps you can cut that back and apply that money to your savings. You'll also need to write down your monthly income after taxes have been deducted.

As you can see, the idea is to paint a picture of how much money you take in and where your money is going, but you don't have to track every single dollar spent.

Saving Money Secret #2: Paying Yourself First

After you've identified where your money is going, hopefully, you should have a few spare dollars to put aside into your savings or a retirement plan like a 401(k). However, there's another secret to saving money: paying yourself first.

If you're like most people, you probably wait until your paycheck is deposited to your checking account, pay the bills, and buy the weekly groceries before deciding how much you can afford to deposit into savings. By then, the amount left over may be small, and you might worry that you might need those few dollars later in the week, so you avoid putting any money into savings. This decision can be a big mistake.

You need to think of your savings just like you would any other bill. When your electric bill comes due each month, you make sure it gets paid. You need to treat saving money no differently. If your goal is to save $100 a month, then think of your savings goal as a $100 bill that needs to be paid. If you think about savings in terms of a bill that needs to be paid, you're more likely to make that deposit and build up your emergency fund.

Just thinking about your monthly savings as a bill isn't enough, and that's where you have to pay yourself first. You need to create an automatic savings plan that will automatically deposit money into your savings account before you even have a chance to spend it. This can be done right through your employer's direct deposit or via a recurring transfer with your bank. And just like magic, you don't even miss the money going into savings each week, yet your savings account begins growing over time.

Saving Money Secret #3: Spend Less Than You Earn

This is the holy grail of personal finance, but if you can't utilize this secret, you'll never be able to save money. You have to spend less money than you earn, and there's no way around that. It's all about cash flow.

If you earn $100 and spend $110, you're now at a $10 deficit. To cover the extra $10 spent, you might borrow from a credit card. Unfortunately, the borrowed money comes with an interest cost, which means you're more than $10 in the hole. If you continue this process on a regular basis and with large dollar amounts, you can get into tens of thousands of dollars in debt.

As your debt increases, you may find yourself only making the minimum payments each month, which means that your payment may not even cover the interest on the debt. As a result, it can take years to pay off the debt, and when including the total cost of interest, you will have likely have paid far more than the original amount you borrowed.

You Can Save Money

The secrets outlined in this article are more like common sense principles. Most of us know that we need to budget our money, put money aside for the future, and stay out of debt, but many of us still can't do it. Unfortunately, short of winning the lottery, there are no secrets to building wealth. These three sound money management principles are the foundation of personal finance.

One thing is certain. If you can budget your money so that you are spending less than you earn and put some of that money into a savings or retirement account before you have time to spend it, you will be able to save money and build wealth.

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3 Effective Ways to Save Money on a Tight Budget

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Would you be interested in learning the secret to saving money? Fortunately, there are a few secrets that can be used to save money, even if it doesn't feel like you have any money to save. However, these secrets are really not secrets at all, but instead are best practices in creating a budget, staying out of debt, and building your savings.

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My name id Dona i am a sophmore in Mountain Ridge High School an this is my first year doing online schooling. As you can tell i am a health and exercise enthusastic. I plan to play tennis proffesionaly , thus my intrest to exercise and eat right. I love the feeling of going out and doing things but when i feel like relaxing my go to show are Sherlock,Flash and Chopped.

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Week 1 highlights | Australian Open 2018

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The best highlights from week 1 at the Australian Open 2018.

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Exercise Is Really Good for You. Like, REALLY Good for You.