Most of us work hard for our money, and want to enjoy it in different ways. For some, that means paying for vacations and leisure. For others, it means spending a modest fortune on restaurant meals, store-bought coffee, and takeout.

No matter what your favorite luxury entails, chances are, it eats up a large chunk of your earnings. And that's fine if your savings are in a solid place. Most Americans, however, aren't in that boat. An estimated 40% of U.S. adults don't have the money in savings to cover a mere $400 emergency. Meanwhile, 42% aren't setting funds aside for retirement because their income is otherwise maxed out.

Read more at Fool.