The Financial Health Network study has revealed that only 29% of Americans say they are financially strong and can save, spend, borrow, and plan in a way that is conducive to their lifestyle and allows them to pursue opportunities. Millennials also had an average of $27,900 in debt from credit card bills and student loans. The key to saving more money and narrowing down your budget is to set both short and long term goals. Short term goals fall into a category of a few months or a few years. Long term starts at several years and continue on to decades, such as mortgages and retirement. Paying down your debt, starting an emergency fund, and paying off a car loan are all short-term goals that decrease your monthly payments and help you put aside savings.