Shelter

With U.S. households costing Americans an average of  $11,747 (in 2018), it’s no wonder people are looking for ways to reduce costs. A first option when it comes to shelter is to share accommodation with roommates and even family members. 

Another option is to consider downsizing as any smaller space should, in theory, need less money put into it over time. 

On the other hand, you could also turn your home into a source of income. If you’re willing to rent out rooms you’ll be one step closer to paying off your mortgage faster. Alternatively, consider signing it up on websites like Airbnb so they could produce a source of revenue even when you’re away. 

The best part about going this route is that by the time you reach retirement age, you’ll live debt-free.