When Robin Giles asks women why they aren’t saving for retirement, she often hears the same response: They don’t make enough money. “It’s hard to convince people who are just scraping by to feel like they have money to put into retirement savings,” says Ms. Giles, a certified financial planner in Katy, Texas. This sentiment is especially true for those living paycheck to paycheck, where the thought of setting aside funds for a retirement account that can’t be accessed without penalty until age 59½ feels almost impossible.

Women are disproportionately affected by this challenge. Many women take time out of their careers to have children, and when they return to work, they often take on lower-wage, part-time jobs. According to the Bureau of Labor Statistics, 63 percent of part-time workers in the United States are women. This means they not only earn less but also have limited access to employer-sponsored retirement plans.

Nearly two-thirds of workers in low-paid jobs are women, with Black, Native American, and Latin women particularly overrepresented. A study by the National Women’s Law Center highlights this disparity, revealing that women are more likely to take on jobs like fitness-class instructors, crossing guards, or gig economy roles like Instacart shopping, all of which offer flexibility but little in the way of retirement benefits.

In the face of such challenges, it’s understandable that the issue of retirement savings takes a backseat in decision-making. A 2022 survey of 1,586 mothers conducted by YouGov, commissioned by TIAA, and designed by economist Emily Oster, found that only 33 percent of women put “a lot of thought” into the effect that staying at home would have on their retirement savings. Nearly 20 percent didn’t think about it at all. The full details of this survey can be explored here.

Other research has found that half of all mothers in the United States have no retirement savings. This concerning statistic is part of a 2023 report by the Century Foundation, a think tank that studies economic and social issues. According to the Census Bureau, there are about 34.5 million mothers living with children under the age of 18 in the U.S., and leaving the workforce for as little as five years to care for a child could result in millions of dollars in lost earnings over a lifetime.

Laura Valle-Gutierrez, a fellow at the Century Foundation, explains that caregivers lose an average of $237,000 in earnings over their lifetime. This figure includes lost retirement income from Social Security and employment-based plans, which make up an estimated 20 percent of that total. For more insights, see the 2023 Urban Institute study.

Strategies for Saving

Despite these challenges, there are still ways to save for retirement even if you work part-time, though it requires diligence. Ms. Giles emphasizes the importance of setting up automatic contributions. “You have to be a diligent saver, and preferably set up automatic contributions so you never see that money before it gets invested for your future,” she says. Research from AARP supports this, showing that Americans are 20 times more likely to save for retirement if contributions are taken automatically from a paycheck.

Certified financial planner Crystal Cox advises her clients to start small, even if it’s just $5 or $10 a month. “Whatever amount you can save per month, you just have to start, because it creates the habit,” says Ms. Cox, who is also a senior vice president with Wealthspire Advisors in Madison, Wisconsin.

To help her clients find extra dollars in their monthly budgets, Ms. Cox analyzes six months of credit card and bank statements to identify recurring expenses that can be eliminated. “So many people don’t know where their money is going,” she explains.

Even small amounts can add up over time. Ms. Giles often uses the example of buying a daily latte. The much-maligned financial advice to skip the morning coffee shop trip to save money does work, she insists. “It can be powerful when you show them the math and what they could save when you extend it out for a month, six months, even 12 months,” says Ms. Giles. For instance, saving $6 a day could result in an extra $180 at the end of the month and $2,160 by the end of the year, not including interest.

Another way to find savings is to reevaluate annual bills such as cellphone, utility bills, and insurance policies. Most people pay these invoices year after year without scrutinizing the charges, according to Ms. Giles.

Apps and Tools to Help You Save

Technology can be a powerful ally in saving for retirement, even on a part-time income. Here are some apps and tools that can help you make the most of your money:

1. Acorns: This app rounds up your everyday purchases to the nearest dollar and invests the spare change into a diversified portfolio. It’s a simple way to start saving without even thinking about Learn more about Acorns here.
2. Qapital: Similar to Acorns, Qapital allows you to set savings goals and rules, such as rounding up purchases or saving every time you skip a coffee It also offers investing options to grow your savings. Explore Qapital here.
3. Digit: This app analyzes your spending habits and automatically transfers small amounts of money into a savings account. It’s an easy way to save without making drastic lifestyle Check out Digit here.
4. YNAB (You Need A Budget): This budgeting tool helps you track your expenses and allocate money toward your financial goals, including retirement. YNAB is particularly useful for those on a tight budget, as it encourages mindful Learn more about YNAB here.

Saving for retirement on a part-time income may be challenging, but with diligence, small steps, and strategic use of tools and resources, it is possible to build a secure future. What small changes could you make today to start building your retirement savings? Join the conversation and share your thoughts in the Age Brilliantly forum.