7 Expenses To Slash Now If You Want To Retire Early

While retiring early is the new American dream, it can be hard to fathom how you can get there. GOBankingRates found seven expenses you can slash right now to help you quickly increase your savings rate and speed up your journey to retirement.


Save on this costly expense by getting roommates, refinancing or even downsizing.

Car payments

Shop for a quality used car to get the lowest payment possible. Even better if you can pay for it outright.

Groceries and restaurants

The best way to save on food is to set a budget. When you shop, plan out your meals and get what's on sale.


Focus on buying quality clothing that will last for years. Also, consider shopping secondhand - you never know what you'll find!


Choose a handful of subscriptions you can't live without and cut the rest.

Cable and internet

Replace your cable with affordable streaming services. For internet, see if you can find a cheaper competitor and switch.

Car insurance

Consider changing insurance companies, paying off your loan or getting a cheaper car to lower your premiums.