Living on a fixed income in retirement can be a challenge — especially in the current economy. If you’re spending more than you’d like each month, it’s time to start cutting back. To determine which bills to cancel, start by reviewing your expenses during the last quarter and establishing two main categories, intentional and unintentional, according to Kevin C. Feig, CFP, CPA/PFS, founder of Walk You to Wealth.
“Intentional spending means being aware and thoughtful about where your money is going, regardless of how it may seem to others,” he said. “Unintentional spending, on the other hand, consists of expenses that don’t provide sufficient benefit.”
