reduced circumstances
A much lower level of income or financial means than one is used to. The one-time business tycoon has now been living in reduced circumstances in a small village in Norway. Our reduced circumstances have meant moving into a much smaller house in a rougher part of town.
reˌduced ˈcircumstances
the state of being poorer than you were before. People say ‘living in reduced circumstances’ to avoid saying ‘poor’: As time passed, his reduced circumstances became more and more obvious to his friends and colleagues.