Re-examine your budget
If you need more money for retirement savings, the first place to find that cash is by making changes to your budget.
“Scrub your budget to ensure all dollars are identified and working for you,” says Skip Fleming, a Certified Financial Planner with Lodestar Financial Planning in Colorado Springs, Colorado.
Fleming urges you to reduce or eliminate any expense preventing you from achieving your goals.
“Some things I see in a typical budget that are often overlooked include the high-priced bundled cable bill, gold-plated cellphone plans that are not used, dining out several nights every week and borrowing money to pay for a vacation,” he says.