Many Americans live paycheck to paycheck, and those of us who save money continually are dwindling in number. With the cost of daily life increasingly on the rise, it is often difficult to keep up with even the most essential expenses. However, keeping yourself financially safe is one of the best and most important aspects of emergency preparedness.

From small emergencies like a flat tire to large disasters such as a house fire, keeping yourself financially stable is essential for peace of mind and emergency recovery. If you find yourself to be in insurmountable debt, work out a plan to free yourself as soon as possible.

Discontinuing the use of credit cards is one of the best ways to start on the road toward becoming debt-free. Many of us use our credit cards without giving a second thought to what we’re buying or the costs we are incurring. But even small purchases add up, and, over time, the credit owed may outweigh the amount we are able to pay back. If you must use a credit card, discipline yourself to spend only what you can afford.

If you have found yourself to be in too much debt to pay off at once, make a payment schedule to pay off the amount you owe. Stick to this schedule and don’t incur any additional debts.

Also, avoid late payments. Paying late on credit cards causes your APR to increase greatly! This often incurs late fees as well. Especially avoid paying over 30 days late on your mortgage payment. This will automatically decrease your credit score.

We all like to buy a new outfit or go out to dinner on occasion, but shopping sparingly will keep you financially healthy and ensure you have enough money when it is needed most.

Here are some other helpful money saving tips:

1) Clip coupons—although most coupons won’t save you much individually, the little amounts add up to a lot.

2) Buy on sale! When possible, combine coupons with sale items to increase the amount you’re saving

3) Live within your means—plan out a budget and stick to it

4) Cook wholesome homemade meals instead of eating pre-boxed dinners and fast food

5) Build up a supply of food storage to reduce meal costs and trips to the grocery store

6) Set up a savings plan that automatically deducts money from your checking account. Many savings account plans accrue interest as well, so you get paid to save!

There are thousands of ways to cut little costs in our lives. The more you are able to do this, the better your financial status and emergency preparedness profile will look!