More than half of Americans surveyed by Ameriprise say they are saving up to an average of $185 per month by cutting back on eating out, entertainment and clothing, says Suzanna de Baca, Ameriprise VP of Wealth Strategies. Ameriprise surveyed Baby Boomers, Gen Xers and Millennials and found that people are making conscious efforts to spend less and save more. However, the survey also uncovered that most Americans don't plan to cut back in areas that can make the biggest impact on their savings.

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.

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