Tips on how to build a budget

A recent CNBC survey found that 65% of Americans say that they live paycheck to paycheck.

There are a number of things you can do to get your spending under control, according to financial experts.

1. Identify your goals. Do you want to pay down debt? Do you want to save for a vacation, a new car or retirement?
2. Track your expenses. Go through your bank and credit card statements and track down to the penny how much you are earning and how much you are spending.
3. Prioritize your needs versus your wants. Decide what you are willing to sacrifice to meet that financial goal.
4. Find ways to trim. Some examples could include limiting your spending on takeout, seeking out alternative grocery stores, seeking out cheaper gas stations, switching to a cheaper cell phone plan or bundling streaming services. Also, look for those recurring payments for a subscription or streaming service you may have forgotten about.
5. Execute your plan. Hold yourself accountable and if you find your plan isn’t working, try something else.

“It's not a one-size-fits-all all type of scenario. And the key is dedication. The key is sticking with it over a long period of time. It's a marathon, not a sprint, getting your finances in order,” said Laura O’Keefe, the director of the Financial Opportunity Center at The Village in Hartford. "The biggest message always is, don't give up on yourself. If something doesn't work give yourself that grace and move on to the next thing.”

The Village offers free financial assistance to adults making under $56,000 a year, including coaching and workshops.