With the cost of living continuously rising and the average life expectancy getting longer, saving for retirement should be a top priority for working Americans. However, recent research shows that at least 48% of households have no retirement savings at all. While those trends can be alarming, there’s a lot you can do to get your financial future organized. To help you get started, here are five practical solutions to boost your retirement planning efforts.

How to Boost Your Retirement Savings

1. Cut Out One Expense

Saving can require some sacrifice, especially when you’re younger. However, these sacrifices don’t have to present a complete disruption to your current lifestyle. Assess all your nonessential expenses, prioritize them, and eliminate one or two that aren’t as important. Put the extra money into your savings. For example, cancel your cable subscription if you already have a streaming service, or make an effort to dine out one night less each week.

2. Compare Prices

When it comes to big purchases—such as flights or cars—always do your due diligence to ensure you’re getting the optimal deal. If the price is too high, consider waiting a little while until discounts are available. Research and patience could save you thousands of dollars that could otherwise be put toward retirement planning.

3. Earn on the Side

If your schedule allows, look for opportunities to take up part-time work like seasonal retail, driving for a ride-hailing service, or freelance consulting in your field. Any money you earn can go directly to your retirement account without hampering your normal budget.

4. Redirect Your Refund

Last tax season, the average refund on individual returns was over $2,800. Although it can be tempting to spend that cash on other purchases, putting some or all of it directly into your retirement account could boost your savings. You may also be able to take advantage of tax-deductible contributions to help you save on next year’s taxes.

5. Set a Goal & Find the Right Savings Account

Whatever strategy you adopt, figure out how much you need to save and how much you can realistically put away. Then, work with a financial planner to find out which retirement savings option works for you, such as an employer-matched 401(k) or an IRA.

It can be challenging to see what the future holds, especially when it comes to retirement planning. That’s why it pays to work with a trusted financial planner from Family Financial Partners. Headquartered in Lexington, KY, their team of financial advisers and investment planners has helped numerous clients with saving for retirement since 2005. Call (859) 219-1006 for an initial consultation, or go online to learn how they can help you. You can also visit feeforplan.com for more information about financial plans tailored to your unique stage of life.