Invest in your future [Infographic]

Americans who stick to a fiscal budget are few and far between, as only about 40 percent of adults have crafted a budget and are closely watching their spending habits, according to the National Foundation for Credit Counseling.

But that doesn't mean it's too late to change. Many Americans have the ability to step above their debt, though it will take some time and a little planning.

One straightforward saving method offered by The Simple Dollar is to deposit money into a savings account every week for 52 weeks. Americans can start with $1 for their first deposit, go up to $2 for their second and so forth. On the last deposit of the year, the person will put away $52 and have nearly $1,400 sitting in a savings account.

Consumers can also save a sizable chunk of money if they can forego unnecessary purchases. If someone is spending $4 every weekday on a cup of coffee, they could save more than $600 per year if they reduced their coffee intake to once a week.

Consider the budget
Americans should plan to spend 50 percent of their income toward fixed costs such as housing payments and utilities. Additionally, 30 percent should go toward financial goals such as a savings plan or a vacation, and 20 percent should go to flexible spending.

Those who can stay on top of their spending habits will have a much better grasp of what they can and cannot afford. Debt is easy to accumulate, but the best safeguard against it is staying informed.
Spur-of-the-moment purchases might be fun, but they won't do anyone any good if they are struggling with debt. Tracking purchases and holding on to receipts is one way to keep spending in check.