Most people save for their retirement through their workplace pension scheme, which is designed to substantially back up a not particularly generous state pension.
But as inflation bites and ordinary bills go through the roof, some people are wondering if they can cut back on their pension payments.
Most financial advisers would strongly advise against this, and perhaps are looking for ways to help their clients cut back on monthly outgoing without sacrificing their financial future.
Techniques such as salary sacrifice are available to savers, which with some sound financial planning can help investors get through the next 12 months. The question is how long this period of high inflation is likely to last.
This guide explains some of the main challenges investors face when trying to find ways to cut back on their regular outgoings without compromising their futures.