Bowyer joined Ipswich on a one-year contract last summer.
“I would love to stay,” he told the Green’Un24. “I like the club and it is definitely moving in the right direction.
“If they were going to offer me another year, I would consider a pay cut. It is not about money, it is about playing football and that is what I want to do.
“At the end of the day, I have never really played the game for money. I could have gone to Liverpool years ago for stupid money but I chose to stay at Leeds.
“At my age, you just want to play. I am quite a normal person in that way and that will never change.”