6 Crucial Steps to Take If You’re Over 60 and Don’t Have Enough to Retire

Closely monitor expenses

Many people have no idea of how much they spend. Using popular household budgeting software that can meticulously track exactly where your spending your money on a monthly basis. That is indispensable for determining how much you can save per month.

Most couples approaching retirement would be surprised to learn the amount of money they are spending on non-essential items. How much do you spend on movies? Travel? Pets? Dining out?

Once you monitor your expenses and enter the amounts into a budget application the program will give you monthly totals by category and show the results in charts. That will give you an instant, clearly visual idea of where you can cut expenses. The program can also easily provide meaningful financial information that would be cumbersome if done by hand.