11 Expenses to Cut Now If You Want to Retire Early

1. Shelter

Monkey Business Images / Shutterstock.com

The average spent on shelter by U.S. households in 2018: $11,747

Want to reduce your housing costs? Consider getting a roommate or downsizing. You could even move in with relatives for a time.

However, if you prefer to maintain your own home, you can turn it into a moneymaker. Rent out a room through a vacation rental website like Airbnb or Vrbo, rent out your whole home when you’re not there, or explore the other options we detail in “8 Ways to Earn Extra Income With Your Home.”

You’ll pay off your mortgage faster, reducing your costs and providing a place to live debt-free after you retire.

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