Many people downsize on retirement and choose to save money, making sure that they maximise their income to get the most out of every pound they have. Many people have been in the position where they have been forced to downsize their retirement lifestyle, or they have been forced to downsize because of job loss or reduced hours. While there is nothing wrong with downsizing to help pay off debts or pay for other things, the majority of us feel that downsizing is a negative thing and that we would like to do everything in our power to maintain a lifestyle that gives us more than enough money to live on.

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The fact is though, that you can save a lot of money by making some sacrifices in the way you spend your money, and many find that downsizing in retirement is a beneficial thing to do. Wiltshire …