Rising costs of living and housing are among Americans' top financial concerns, according to a recent Gallup poll.

Mitlin Financial Founder Lawrence Sprung sits down with Wealth's Brad Smith to outline the best practices for building up an emergency savings fund, such as automating savings, and realizing where to cut out unnecessary costs.

Sprung is the author of Financial Planning Made Personal: Learn How to Create Joy and the Mindset of Success.

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