Need More Retirement Money?
Reaching your retirement goals is a two-step process. Step one is to change your financial habits. Step two will be investing into your retirement accounts that extra money you saved from step one. If you need more retirement money you need to squeeze it out of that which you have available to you.
Save Retirement Money By Setting Goals
If you set reasonable goals for yourself you should be able to achieve them. Break your goals down into tiny. Weekly financial goals are more attainable than annual goals.
- Create a list of expenses
- Categorize those expenses
- Where are you spending the most money? Housing? Food? Entertainment? Transportation?
- Is the money you spend all paying for your needs?
- How much of your money is spent on your wants?
Save Retirement Money By Food Decisions
- Never go grocery shopping when you are hungry; you will make lousy food decisions
- Always take a list of items needed when you go grocery shopping
- Plan your meals on a weekly basis so you have a grocery list
- Plan meals around that food on sale for the week
- Buying in bulk is not always your best value
- Buy in bulk only if the cost per unit is a better value
- Eat out less, save money and calories
- Use coupons, they are not old fashioned
- If possible, eat in season. Fruits and vegetables cost less when they are in season
Advice Often Mentioned, Often Ignored
- Do you know your credit score? Look it up. It could be costing you money in fees, insurance premiums and interest rates
- Raise your insurance deductibles
- Pay your monthly bills on line, saving the cost of stamps
- Car pool
Saving money for your retirement is not difficult it’s just easy to disregard as a priority. If you intend on retiring some day with enough money to stay retired you need to make sure you follow good financial habits throughout your lifetime. A big financial mistake is to wait until you retired to learn how to save money and cut costs.