Microsoft 365 features that help users manage their subscriptions, account settings, and billing information.
This is from the UK, but hopefully will be helpful for those elsewhere
"Downgrade to Microsoft 365 Personal or Microsoft 365 Family Classic
Go to Services & subscriptions. Sign in with the Microsoft account associated with your subscription, if prompted.
- Find your current subscription and select Manage > Cancel subscription
- To downgrade to another plan with fewer features, select Microsoft 365 Personal Classic or Microsoft 365 Family Classic, or another plan that works for you.
- Follow the instructions to complete the switch.
Your existing subscription might not change immediately, but it will automatically switch to the new plan at renewal. You will not be charged for the new plan until it renews."
For me standard Microsoft 365 Family (with AI) is cheaper from Amazon & a number of other known name retailers than Family Classic is from Microsoft (the only place you can buy it)