is anyone on here living on a low income?

[FLA]

There seems to be a lot of high salaried folks on here, just wondering if anyone has become disabled and lost decent pay and how they coped with that. Or just didn't make a high wage in the first place. I anticipate living on 22k and I'm nervous. Even though I have a safety net because I bought a handicapped accessible ranch with my parents before I got sick in order to more easily help with my terminally ill mother's care. They have helped in that i don't pay taxes and they often pay for groceries. I offered to go live in low income disabled housing, thank God they said no, they are dependent on the bills I do pay- cell phones, cable/internet/landline and utilities.

when I have a clear picture, I will post my budget for any advice you can give. I guess I'm just looking to hear it can be done.

[bzbee]

We are a family of 5, and we live on about 25k a year for over 8 years now since the recession when we both lost our jobs. and then we got more kids, and we live on one paycheck. We budget very carefully and don't waste a penny. We also have a garden, chickens, fruit trees, and now we got goats. We save on heat in the winter by using firewood. Don't be afraid. If your required monthly bills are less than your income, you should be fine. You can see how we live and I share some money saving tips on my channel here:

https://www.youtube.com/channel/UCb93oL-S6o2eGE_j2Kt3wUw

I also share my budget in one of the videos. So, don't worry, its doable

[97guns]

We are a family of 5, and we live on about 25k a year for over 8 years now since the recession when we both lost our jobs. and then we got more kids, and we live on one paycheck. We budget very carefully and don't waste a penny. We also have a garden, chickens, fruit trees, and now we got goats. We save on heat in the winter by using firewood. Don't be afraid. If your required monthly bills are less than your income, you should be fine. You can see how we live and I share some money saving tips on my channel here:

https://www.youtube.com/channel/UCb93oL-S6o2eGE_j2Kt3wUw

I also share my budget in one of the videos. So, don't worry, its doable

i applaud you for making it work, i knew it could be done but i love to see the proof

[bzbee]

i applaud you for making it work, i knew it could be done but i love to see the proof

What exactly do you want to see? I will not show any documents that have personal info on it. That's too private. Lol but any questions you might have, I will answer.

[james.hendrickson]

Bzbee,

What are your top tips for living a frugal lifestyle? Can you add like 5 or 6 of them here in this thread?

[snafu]

fla, see PM

[FLA]

thanks, folks

[FLA]

fla, see PM

huh, there's nothing there

[snafu]

re-sent PM, hope it goes

[sv2007]

FLA,

Nothing specific, but I have lived on very little money before.
The key is to have a tight budget and always run a positive cash flow.

Maybe joining a support group of people in similar situation.
They can offer strategies (since they are dealing with the same problem) or even point out public services/assistance that you qualify for (but don't know about).

Use a credit card for EVERYTHING.
This allows your to audit your budget and spending against that credit card statement every month. A secondary benefit is the card reward; at the end of the year may be $22k * 1% = $200.

Can you spare some money (like even just $3 everyday)? Had $3/day been invested for the past 5 years, the nest egg would be about $7k (after fees) now. The money can be used for indulgence, a rainy day fund or just piled back into savings. The key here is hope and a better future.

Good luck.

[FLA]

I do use Discover for everything, except one MD that only takes cash. It helps because I get the bonuses but also because everything I spent is categorized on the statement and I can see if I am on track in each category. If I'm spending too much in one area, I know to go easy on that in the coming month.

in many ways I am in an ok position, I own my car and have paid off my share of this house. I have family willing to help, I just hate accepting that help. I already have all the things you need to stock a house, have enough clothes, etc. I have an EF and IRAs that I can draw from if needed now that I am officially declared disabled. I just want to try really hard not to use that retirement money. I lived a fairly frugal life before but took vacations and things like that. That will change now. It's the high cost of medical care that has me the most worried. But whatever that may be will be, no sense in worrying about it ahead of time. I've always been a saver and will need to find a way to save money for the emergency fund no matter what my income is.

[bzbee]

Bzbee,

What are your top tips for living a frugal lifestyle? Can you add like 5 or 6 of them here in this thread?

I have lots of frugal tips in my videos, but here are a few of them:

Before going to a grocery store, I look at their ad and see whats on sale, I stock up on super deals, and barely buy anything else. After a couple months, you will have everything you need in your pantry, and will not need much except fresh produce, and of course deals to stock up.

I buy winter clothes on clearance really cheap in February and march, and summer clothes in September and October. Also check the thrift stores often for shoes, sometimes I can find almost new shoes for like $10 or 12.

We also have a big garden, chickens for eggs and meat, now we got a goat too.

We save on utilities by using the woodstove and scrap wood for firewood. We even use firewood for bbq instead of charcoal.

We don't eat out, and if we find ourselves to be out and about and get thirsty or hungry, we either wait till we get home, or just get something for like $1 from a nearest drive thru or a grocery store. Also most fast food places will give you free cup of water if you ask, or sometimes they only charge a few cents for that.

We get most of our entertainment for free. Our animals are a big part of it. Also we watch lots of youtube and get free books and movies from the library.

For more tips and ideas, please go to my youtube channel and see more, and maybe get some free entertainmet.

https://www.youtube.com/channel/UCb93oL-S6o2eGE_j2Kt3wUw

[FLA]

thank you and I will watch the videos!

[bzbee]

thank you and I will watch the videos!

I hope it will give you some more ideas on saving money.

[LivingAlmostLarge]

bzbee do you have a paid for home? Or is the $25k include a mortgage payment?