Move over, mortgage payments. A recent USA Today release says everyday expenses stress out 71% of Americans. But even amid record housing costs, consumers name supermarket, utility, and gas prices as the cause of most financial strain. As inflation forces many to rethink spending, consumers struggle to manage day-to-day expenses and save money. This economic adversity impacts all generations; no one is immune. However, the reasons for the struggle vary across generations. Americans’ Most Frustrating Monthly Expenses The survey ranks groceries at the top of the list, stressing 40% of respondents. Utilities come in second with 32%, followed by housing and gasoline (28% each), insurance (23%), debt payments (20%), phone bills (19%), and healthcare (17%). According to Jon Dulin, a personal finance expert with Money Smart Guides, that tracks. “Grocery shopping is a weekly or in some cases more frequent errand for people. By constantly being reminded how high prices are, it’s only natural that this expense tops the list.” However, Dulin warns people to pay attention to their mortgages, too. “Thanks to high interest rates and home prices, a monthly mortgage can quickly put significant strain on one’s finances. This means that while you might feel the pain of high grocery prices, the pain is a result of the majority of your monthly income going towards your mortgage.” Those looking to buy a home should thoroughly review monthly housing costs before committing to a monthly payment for 15 or 30 years. Reasons for Price Frustrations Even though most Americans agree on the most frustrating expenses that frustrate, different reasons arise when pressed about underlying issues. For example, 64% say high prices frustrate them, while 59% blame continued price hikes. Others cite unregulated costs (23%) and unclear pricing processes (11%). About 70% of baby boomers say high prices are their top frustration, whereas 23% of Gen Z and millennials report uncontrolled costs as their primary stressor. This disparity is understandable. “The younger generations are trying to build a financial foundation, and it can feel like you have zero control when it is one high cost item after another,” Dulin explains. “It can quickly feel like you will never get ahead. On the flip side, boomers don’t have this concern. Their focus is making the money they have last, and seeing a bigger grocery bill over and over is frustrating.” Inability To Save Money One big underlying reason many Americans find monthly expenses frustrating is the inability to save money. Eighteen percent of Americans say housing costs stop them from saving money. Groceries (17%), debt payments (12%), utilities (8%), and gasoline (6%) round out the top five. Older generations cite groceries as the main driver of their inability to save, whereas housing costs top the list for younger generations. Most Americans are “very stressed” or “somewhat stressed” about everyday expenses — 74% of Gen Zers, 77% of millennials, 74% of Gen X, and 60% of baby boomers. How To Get Ahead What are some practical tips to save money and get ahead? The first step, according to Dulin, is to list all monthly expenses and work through the list with an eye for savings. “I recommend people start with the big expenses first – things like housing, cars, insurance, utilities, and groceries – and see what steps can be taken to lower these. For example, spending a few minutes getting various insurance quotes could save you a few hundred dollars a month. Or, looking at your cable subscription and scaling back on channels or even canceling and using only streaming services should save you money.” Dulin urges consumers to think about paying off mortgages early with newfound savings. “For most people, their mortgage is one of the largest monthly bills they have. By aggressively paying off this debt, some people can save hundreds or even thousands of dollars every month. They can then use the money that was going to that bill to quickly build up their savings,” he adds. While this strategy will help, most people should not expect overnight changes; it will take some time to compound savings and feel the impact on monthly finances. Still, the longer you wait to start, the longer you wait to see progress.   This article was produced by Media Decision and syndicated by Wealth of Geeks.