When it comes to financial regrets, about a quarter of Gen Zers and 21% of millennials say not saving enough for emergencies ranks at the top of their lists.

That's according to new data from Bankrate, which defines Gen Zers as those ages 18 to 27 and millennials as those ages 28 to 43.

That tracks with larger trends. Only about 44% of Americans would be able to cover a $1,000 emergency expense using money from their savings, per Bankrate's 2024 emergency fund report. And a little over a quarter of adults in the U.S. have no emergency savings at all.

Its well known that having an emergency fund can prevent an unexpected expense from derailing your budget or sinking you further into credit card debt. But getting started is often easier said than done.

Here are the factors Americans say prevent them from growing their emergency savings and one strategy that can help you easily begin building one.

Inflation is the main obstacle to building emergency savings

Although people want to save more, every generational cohort cited inflation and elevated prices as the main factors preventing them from growing their emergency funds, Greg McBride, Bankrate's chief financial analyst, tells CNBC Make It.

In July, the annual inflation rate hit its lowest point since March 2021, according to the consumer price index, which analyzes the price movement of everyday goods and services. However, certain categories still increased, such as the price of eggs, which was nearly 20% higher in July compared with the same month last year.

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Higher prices can make it harder for consumers of all ages to set aside extra money for their emergency savings, McBride says.

"High prices also mean your expenses are increasing," he says. "So, the amount that you need to save is increasing at the same time that those higher expenses and costs are increasing, which makes it more difficult to accumulate savings."

Make saving a habit to build your emergency fund and wealth

If you want to build an emergency fund, how you get started depends on your unique financial situation. But remember: "Successful saving is all about making it a habit," McBride says.

Rather than focusing on the dollar amount you can funnel toward your emergency fund, try finding a strategy you can consistently maintain. One way to do that is by automating your savings contributions.

Many employers will allow you to automatically allocate a portion of your paycheck toward your savings account. If you freelance or work for yourself, most banks also allow you to set up automatic transfers from your checking account to a savings account.

"The beauty of automating that is that you're paying yourself first," McBride says. "And you're forcing yourself to live on less than you make, which is the very essence of building wealth over time."

The good news is that you don't need thousands or even hundreds of extra dollars on hand to start building your emergency fund. It's OK to start small by setting aside what you can and contributing more as your financial situation allows.

"Having an emergency fund with literally any amount of money in it is better than not having one," says Matt Schulz, chief credit analyst at LendingTree and author of "Ask Questions, Save Money, Make More." "That little bit of money may not seem like much, but it is money that won't have to go on your credit card the next time your dog needs an emergency trip to the vet or your car gets a flat tire."

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