Tips for Living on a Fixed Income

Social Security Disability Insurance (SSDI) provides income to individuals who are unable to work due to a disability. The funds are provided until your condition improves and is guaranteed if it does not. Checks are disbursed on the second Wednesday of each month or the third Wednesday of each month, depending on your birthday.

Many people rely on SSDI for most of their income. The amount of SSDI funds are the same each month and will not vary unless the government finds a reason for a reduction. This is why it is referred to as a fixed income. While the cost of living is increasing, SSDI recipients are forced to make do with what they have.

Truthfully, frugality is the best means of survival. Consider the tips below when budgeting your expenses.

Live Below Your Means

Living on 25-30% less than your income allows you to save for emergencies or for the occasional purchase of something you want. If you find it difficult to save 25% of your income, consider these suggestions:

  1. Cancel cable and other unused subscriptions. If you enjoy watching TV, choose the tv subscription or streaming service at the lowest cost.
  2. Drive used or don’t drive at all. Paying cash for a previously owned vehicle means you avoid loans and interest. Using public transportation is another means of saving money.
  3. If you don’t already own a home, consider renting for a lower amount.
  4. Research cheaper phone plans and devices.


Budgeting is merely prioritizing your expenses. Use a notebook to keep track of your rent, utilities, insurance, and healthcare each month. In that book also include money spent on food, gas, and entertainment. Try couponing to save money on food. Eliminate entertainment costs by finding free activities to do for fun. Generally, local newspapers, social media sites, and search boards have a list of free events for people of all ages.

No New Debt

Steer clear of new credit purchases and credit cards. Set a budget to pay off your current cards and avoid using them. The joy from new purchases doesn’t last long. The joy of being debt free and financially stable lasts forever if you put in the work.

Current and potential recipients of SSDI fear to live on a fixed income. It is possible for those who choose to budget, live below their means, and make other financially wise decisions. In some cases, financial advising is available to those receiving SSDI income. For help locating your local office, benefit questions and other related inquiries contact Social Security for more information.

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