Clearly, how your budget stacks up against the people responding to this survey could vary, so how you cut back might differ as well. After all, that daily cappuccino or monthly new outfit could be a big part of what makes you happy, which is what retirement is really about in the end.
However, it’s worth noting that a large portion of Americans are very much struggling to make ends meet in retirement. Previous surveys from GOBankingRates revealed that you’ll need at least $1 million saved in every state in the country — including a stunning $2.3 million in Hawaii, the nation’s most expensive state — but 42 percent of Americans have less than $10,000 saved to fund their golden years.
Fortunately, you can take control of your situation by cutting back on these expenses. It’s not always easy to pass on a meal out or a fancy cocktail, but it can make a big difference in the long run.