Have you recently joined the new retirees’ group? If so, then you probably have a lot of things to plan and organize in terms of your retirement finances. One major concern for retirees is that they will outlive their savings, due to a higher life expectancy.  To make sure you set your savings target properly and enjoy a comfortable, worry-free retirement, check out these key money-management tips every retiree should know, according to financial adviser Mike Zaino.

Create a budget

Creating a budget is not only the smartest move in retirement, it is essential for all your life stages. Unfortunately, it is also the most disregarded step in terms of money management, according to Mike Zaino, president and CEO of TZG Financial in Charlotte, North Carolina. After spending years and years building your nest egg, in retirement, your focus should go to preservation and distribution. “You’re living on a fixed income, but your health-care expenses can vary greatly,” says Zaino.

An easy way to track and keep all your spending in control is to use financial sites such as Mint.com and the mobile Mint app. With their help, you can create a budget, categories of expenditures, reminders to make payments and pay bills and so on. This way you can avoid these 13 Financial Miscalculations That Could Ruin Your Retirement.