You’re on disability or Supplemental Security Income (SSI) but are struggling to make ends meet. The monthly checks just don’t seem to go far enough. Reducing costs feels impossible when there’s hardly anything left to trim. But what if we told you that with some strategic planning and smart money moves, you could start padding your savings even on a limited income?
It is possible to save money while on disability. In this blog post we’re discussing some realistic ways to spend less and stash more cash each month. Learn insider tips on lowering bills, avoiding fees, accessing freebies and assistance, and optimizing what you do have. Don’t stress. With creativity, find extra room in your budget. Ready to start building up your savings accounts to achieve self support?
Budgeting on a Fixed Income
When you’re receiving SSDI benefits, every penny counts. The important thing is creating a realistic budget to make the most of what you have.
Keep track of your income and expenses
Step 1 is knowing exactly how much is coming in each month from disability payments and any other sources. Then, track how much you’re spending on essentials like rent, food, or your disability-related expenses. Find expenses you can reduce or eliminate, like dining out or entertainment.
Create a Realistic Spending Plan
With your income and expense information in your hand, craft a budget that leaves some room for essentials you can’t control like medical care. Allot a reasonable amount for things like food, transportation, and personal items. Stick to your budget each month and look for new ways to save. With time and practice, budgeting on disability can become second nature. The key is making the most of what you have through careful planning and smart spending choices.
Reduce Expenses to Save More
If you’re on a fixed income, cutting costs is essential. Look for ways to slash your regular bills by at least 10-15%. Things like turning off lights when leaving a room, using a programmable thermostat, and unplugging devices when not in use can save energy and money.
Reduce Your Utility Bills
Call your providers and ask if they offer any discounts for people with disabilities or fixed incomes. They may be able to put you on an affordable payment plan or lower your rates. Using a budget billing option can also help make costs more predictable.
Quit Cable
Ditch cable and streaming services you don’t use. A basic internet package and free streaming options can save $50-$100 a month. If internet access isn’t affordable, check if low-income programs in your area offer discounted rates.
Shop Store Brand or in Bulk
Go for store brand groceries and household supplies which can cost up to 50% less than name brands. Buying larger sizes or multiples when on sale is also a great way to save in the long run. Don’t forget to use coupons or your app for extra discounts at checkout.
Ask About Assistance Programs
Many people don’t realize the types of aid available to them. Apply to receive things like SNAP food benefits, Medicaid, utility assistance or property tax relief. Local charities and places of worship may also offer grants and help for qualified disability expenses. Don’t hesitate to ask – the programs exist to help those in need.
With some budgeting and creativity, you can keep more cash in your pocket each month. Small changes really do add up, so start making cuts where you’re able and your savings account will grow in no time.
Take Advantage of Government Benefits
Aside from your SSI benefits or Social Security Disability Insurance (SSDI) benefits — The government offers several other programs to help supplement your income and make ends meet while on disability.
Health Insurance
As a person with a disability, you are likely eligible for Medicaid, which provides low-cost or free health insurance. Medicare also offers coverage for those under 65 or with disabilities. Check with your state to know if you qualify and what benefits are being offered.
Food Assistance
The Supplemental Nutrition Assistance Program or SNAP (formerly food stamps) provides monthly benefits to purchase groceries. The amount depends on your income and family size. Disability benefits count toward your income for SNAP.
Housing Assistance
Section 8 vouchers and public housing provide affordable housing for those with low incomes. Rent subsidies can make housing much more affordable when living on a fixed disability income.
Other Benefits
Some states offer additional benefits for those with disabilities like utility bill assistance, property tax relief, vehicle tax exemptions, and reduced public transit fares. Do some research to find programs available in your area.
Find Ways to Supplement Your Income
While you’re on disability, your income may be limited. Find ways to bring in extra money that won’t interfere with your social security disability benefits. A part-time job or side gig can provide supplemental income without reducing your disability payments.
Do freelance or contract work
Freelancing is a great option if you have a skill or talent you can leverage. Writing, programming, graphic design, and tutoring are a couple areas that translate well to freelance work. You set your own hours and workload, so you can keep your earnings under the limit. Promote your personal support services on websites like Upwork, Fiverr, or Craigslist.
Sell Items
Going through your attic, garage, and closets and selling unwanted items is an easy way to make some cash. Have a yard sale, sell on websites like eBay or Facebook Marketplace, or take items to a consignment shop. You’ll declutter your space and line your pockets with money from things you no longer need.
Drive for a ridesharing service
If you own a reliable vehicle, consider driving for Uber, Lyft, or a similar service in your spare time. You make your own schedule, so you can work as little or as much as you want. The additional income won’t impact your disability benefits as long as you stay under the income & asset limits. Keep records of your driving time and income in case you need to report it.
Do market research studies
Companies often hire people to provide opinions and insights on products, services, and ideas. Look for local focus group companies or websites like Respondent, User Interviews and Dedicated Research that offer ways to participate in research studies remotely. Studies typically last 1-2 hours and pay between $30 to $200. It’s an easy way to make money from the comfort of your home on a flexible schedule.
Saving Money? Apply to EASY Wireless' FREE Phone Plan
If you’re reading this blog, you’re likely facing financial hardship on Social Security. Don’t worry — it happens all the time. Luckily, EASY Wireless is here to help!
Partnering with programs such as Lifeline & ACP, we’re offering FREE phones with data to eligible individuals just like yourself. Whether you’re needing to keep in touch with friends & family or you want to save on your current plan, here’s what we’re offering:
EASY Wireless Unlimited Plan
FREE Unlimited Data
FREE Unlimited Talk
FREE Unlimited Text
FREE SIM Card Kit and Activation
Choose to Keep Your Number or Get a New One
To start with EASY Wireless, apply online by clicking the below:
Start Saving Today!
Or you can come to one of the EASY Wireless’s retail stores, where our customer service agent will help you apply for your benefits.
