Consider downsizing

However, if you’re appalled by the idea of changing cities, don’t worry; I totally get it! If you want to remain in town, maybe you should consider getting a smaller home. If you think about it, it’s one of the best ways to reduce expenses. Start looking for neighborhoods that are retiree-friendly or even condo communities that are a bit closer to supermarkets and services.

Also, you might want to sell your current residence and some of its furniture, as it might not fit into your new place. Another great tip would be to use the proceeds to help cover all current expenses or set them aside in the near future, just in case inflation continues.