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Living on SSD: Budgeting and Lifestyle Tips

Social Security Disability benefits can be make all the difference to someone who is unable to make enough money to support themselves. Whether you’re on Social Security Disability Insurance (SSDI) or Supplemental Security Income (SSI), the income is often modest, and stretching it to cover your needs takes some creativity and planning. Don’t worry—I’ve got you covered with practical budgeting and lifestyle tips to help you live well on SSD.

Bare Bones Budgeting

Layout your monthly budget on a worksheet and keep it handy. You will start with the essentials like housing, utilities, food, and medical expenses. These are the necessities when it comes to existing in the modern world. If your housing uses more than 50% of your budget then look into qualifying for housing assistance programs like Section 8.

When it comes to utilities, you may want to contact your utility provider and see if they offer special discounts for people on a disability-based fixed income. You can perform a search on your favorite search engine to find companies which offer discounts to those people on fixed incomes.

In regards to food, shopping at stores that offer the lowest prices on the market is essential. Think stores like Aldi’s and your neighborhood thrifty marts. Good used clothing can be found at Goodwill, surplus stores, thrift shops and consignment stores.

If at all possible create a savings account and deposit $20 or $40 into it a month. Use these funds for unforeseen emergencies like medical. You can even utilize the cookie jar approach where you simply put a few bucks into it every week.

Slashing Existing Bills

Find items in your monthly bills which can be slashed or reduced. For example, you may have subscriptions to two or three streaming services. See if you can manage subscribing to just one per month. Entertainment is a keystone of the modern American life but expenses can really add up when you subscribe to multiple services.

Other ways to stay entertained without spending money include:

• Libraries: Free books, movies, even Wi-Fi and classes.
• Parks: A walk or picnic costs nothing and lifts your spirits.
• Community Events: Check local listings for free concerts, workshops, or support groups.

For example, here in Melbourne, Florida we have Wickham Park. They have events almost every weekend which don’t charge fees to enter.

Shop around for the very best insurance plans for your vehicles, home and health. Sometimes you can contact your insurance agent directly and ask if they have plans for people on low-income budgets or for disabled persons.

Side Hustle Opportunities

SSD has an earning cap of $1500. This means you can earn money as long as it doesn’t reach above this threshold. Side hustles like online freelance writing, ride-sharing, tutoring or social media management can be lucrative and you can create your own schedule.