There are many other ways to save on your expenses, from selling off items

As you enter your golden years, it’s important to consider a few money-saving moves. Whether you’re in the workforce, or a full-time retiree, you can use these tips to make your savings last.

The first and most important money saving move is to save early. This means you’ll have a larger amount of time to grow your savings and take advantage of compound interest. Your employer might even offer a matching program to make your contributions go further. Depending on your income level, this could be a match of up to 3% of your salary.

It’s a good idea to get started on a retirement savings plan, especially if your job allows it. You can do this by opening an individual retirement account (IRA) or a 401(k). If your employer doesn’t offer one, you can join a 401(k) any time. A 401(k) is a retirement savings account held by your employer, and it is designed to help you build up a fund for your later years.

There are many other ways to save on your expenses, from selling off items you don’t need to moving to a cheaper neighborhood. These steps can yield big rewards. But the best way to find out how much you can save is to take a look at 5 Money-Saving Moves You Should Consider in Retirement your own financial situation. Putting aside just a few extra dollars each month will add up over the years.

One of the more interesting ways to save is to consider ways you can reduce your spending. Taking care of your health during your working years can reduce your costs in later life. However, if you aren’t ready to give up your day job, consider taking on a part-time job, such as coaching, teaching, or real estate. This is a great way to keep yourself active and earn some extra cash.

When you’re looking for the most important financial move of all, don’t overlook the 401(k). Many employers will match your contribution, up to a certain percentage of your salary. For example, if your employer matches 50% of your savings, that’s like an instant raise. And thanks to compound interest, the match will pay for itself.

Another clever way to save on your budget is to use the new sharing economy. There are apps and websites that allow you to share your possessions with others, without having to worry about storage space or other expenses. They also facilitate such activities as sharing ride and car sharing services.

Finally, you may want to think about getting an emergency fund, in case you need a little extra cash. A three to nine-month supply of funds is generally enough to cover your household’s needs. While this might sound like an inconvenience, it’s a necessary step for many retirees. Having the money on hand will ensure you don’t have to resort to taking out a loan.

Keeping track of your credit score is an important step in maintaining financial health. Even though it doesn’t affect your retirement plan, it’s a valuable piece of information that can help you get a better rate on a home or car loan in the future.