Investigate a reverse mortgage

If your children are all set up, have their own jobs and places to live, and no interest in keeping the house that you currently own to themselves, you could consider a reverse mortgage. This option would allow you to cash in a monthly amount and create an extra source of income in retirement.

Speaking of extra income, check out these 10 Best Work-From-Home Jobs for Retirees to Boost Their Income.

Switch your credit cards to debit cards

Debitize is a personal finances app that helps you track your spending and link your checking account and as many credit cards as you want to use. Basically, when you purchase something by credit card, it moves the money out of your bank account as if you had used a debit card to make the purchase. The only difference is that you will be spending money that you do have without as much risk of accumulating debt. Another perk is that you will still be able to receive rewards and cashback. On that note, make sure you check out these 11 Purchases You Should Never Make with a Credit Card.