25 Ways to Stop Spending Money and Save for Retirement

8 min readAug 25, 2022

Unfortunately, there are no shortcuts when it comes to saving for retirement. Instead, you must do all the small things that can add to a stable post-career life. Reining in spending, keeping costs down, and setting aside extra funds are just some of the intelligent things you can do to grow the money in your nest egg.

Here are 25 tips for boosting your retirement savings and investing in your future self.

1. Start small

As with any habit, when you change your routine, it is a good idea to start small. Make manageable changes before moving to more significant, more daunting tasks like investing or downsizing.

For example, make your own coffee at home rather than stopping at a coffee shop before work. Opt for the generic brand of hand soap or wait one day before buying the new shoes you saw at the store. All of these minor adjustments will help you make lasting changes to your ingrained overspending habits and is the best way to save in the long run.

2. Create a budget and stick to it

Sit down with your household and evaluate your spending habits. Then, look over your past bank statements and decide where you can cut costs.

Be specific about how much you can spend on what. For example, create a category for food costs, transportation, clothes, etc. and update your budget regularly to help make sure you are reaching your goals. There are plenty of budgeting apps out there that make this process a little less tedious and help you stay on track.

3. Set aside savings

As you gradually change your spending habits in order to save for retirement, be sure to put your savings aside in a separate account. Regularly tracking and earmarking your retirement money and keeping it separate from the rest of your funds will keep the money you are saving for the future intact. Once your savings are put aside, invest them in tax-free accounts, like a Roth IRA, to get the most bang for your buck.