Plan on working during your retirement? Of course not… however, when you fail to plan for retirement appropriately, that is exactly what can happen. Just ask the hundreds of retirees that have had to return to the workforce (full or part time), just to sustain a simple lifestyle. The problem for most people is that you’re so busy worried about how you’ll get through the expenses of living in current times, that planning for the future is the last thing on your mind.

According to a report, approximately 36% of Americans have not started saving for retirement). So if you’ve found yourself in this category, you’re certainly not alone. The only trouble is that if you haven’t started saving on any level for retirement (yet you’re nearing retirement age), saving will become that more challenging to do. Though saving with just a few years from retirement will require a bit more effort, it is still not impossible to accumulate the funds you’ll need to live once you’ve retired.

Below are five ways you can start saving now for a better tomorrow:

1.  Get Rid of Debt

One of the most challenging things about being financially stable during retirement is living on a fixed income and having a heaping amount of debt to manage. Now is the time to begin setting up a plan of action to pay off any outstanding debt you may have. Sit down and evaluate your credit report to see what bills you need to pay off. Caculate a grand total owed and divide it by the amount of months you have left until retirement. This is the amount you need to try and pay on the monthly basis so that your debt is removed.

This method might not seem like a way to save, but it really is. Though you’ll be gearing most of your extra money towards paying down bills, it eliminates high costs when you’re living on your retirement income. If your home is paid for and you have no other debts besides your monthly expenses, it makes it a lot more affordable to live without having to stress.

2.  Start Saving Your Pennies

The saying, “every penny counts” is very true when it comes to building a retirement savings. Saving your pennies and spare change might seem miniscule, however, it can really add up in the end. Create a coin jar and place it in a central place in your home. When shopping with cash, do not give exact change. Allow the cashier to give you change instead. Take this change and add it to the jar. Once the jar is filled, take the coins and deposited them into an interest bearing account.

This method often works well because you’re less tempted to spend change in a jar than you would be to spend cash or credit. It is also beneficial in helping you keep your debt to a minimum because you’ll be encouraged to pay for things in cash. This keeps  you from using credit and falling deeper into debt.

3.  Set Up an Automatic Savings Plan

Most banking institutions have automatic saving plan features that are offered to their customers. Ideally you determine how much money you’d like to save on the monthly basis and have the funds automatically transferred from your checking into your savings. The amount you select doesn’t have to be much at all. Even saving $10 every week can add up to $520 at the end of the year. Doing this over the next few years will help to increase your retirement savings and get you into the habit of saving on the regular basis.

Many people like the automatic savings option because it’s an out of sight out of mind process. You’ll begin to look at savings as a monthly expense or deduction as opposed to something that is optional (which can tempt you to go months without saving).

4.  Learn How to Invest

Investing is not as complicated as you might think. If you’re looking for a way to create money for your retirement, investing is a great option. There are plenty of resources online that can teach you how to invest. Creating a practice portfolio and learning the trends would be ideal if you’ve never invested before. Also, keeping an eye out for relevant news on stocks is ideal. Sources such as Sleek Money can often be beneficial in helping you determine which stocks are worth investing in. Once you feel more comfortable, you can open an account and start investing. Over time with the right methods, you should see your investments grow.

5.  Consider a Part Time Gig

So working to save may not be what you were hoping for, but sometimes it is the only way to secure your future. The good thing is that nowadays, there are plenty of things that you can do to earn a little extra money on the side. You could be an at home customer service representative a few nights a week, start a blog, or even become a mystery shopper and earn a decent amount of cash. The only thing is you have to be diligent in putting your extra earnings away.

Saving is often a challenging task to take on. This is especially true when you the thing you’re saving for is several years away. However, these suggestions are great ways to start your retirement savings while also learning how to become a better saver altogether. Incorporating these ideas into your everyday life now will help you to save more towards your future. This way, when you retire, you won’t have to worry about entering the workforce when you should be enjoying the experience.

If you are looking for advice and guidance on planning for retirement check out http://retirementguide.co.nz/