9 Ways to Downsize When You Retire

8) Sell the Second Car

Many couples have their own car. Maybe it was once necessary for taking the kids to soccer practice and dance lessons, as well as getting to and from work. Perhaps you even sprung for the big SUV, or minivan.

These are perfect for larger, active families and make everything from daily commuting to family vacations a lot easier. Once the kids are grown, however, you don’t have these needs anymore. If you have a family-size car, consider trading it in for something smaller and more economic (i.e. something that doesn’t guzzle gas or cost a fortune to repair). If you and your spouse each have a vehicle, think about whether it’s necessary. Do you always ride together? Do you rarely travel anywhere alone? If the answer is yes, it’s time to downsize and sell the second car and save on having to insure and repair two vehicles.