Tips For Living on an Extremely Low Income

Episode 145,   Jan 29, 2021, 08:00 AM

There is a lot of information out there for middle-income earners regarding how to be wise with money, but what about for those of us who are living on a very low income? While there is ultimately no magic wand to make the pressures of financial difficulties disappear, we want to explore how those earning less might also achieve financial goals through frugality.

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Check out this episode for more inspiration for low income earners:

Notable Notes

What the Internet has to say:

This article from Caroline Vencil gives details and encouragement on how to live on one low income

What Jen + Jill have to say:

  • Prioritize - crucial when money is tight
  • Only shop discount - discount grocery, second hand, scratch+dent
  • Make your own
  • Cut corners on bills
More from the Internet

This article from You Need a Budget gives an example of how to pay off debt on a very low income

More from Jen + Jill:

  • Have a plan
  • Focus on one thing at a time
  • Cut back extremely in some areas for a time to get out of debt quickly. (i.e. lifestyle changes for a season - limited entertainment, no gifts/presents, no vacation, etc.)
BILL OF THE WEEK - Thank you Ellie from Israel for sharing your bill of the week about celebrating your promotion and extra bills you found in your clothes to spend on a date night!

If you want to submit your bill of the week visit frugalfriendspodcast.com/bill to leave us a bill

Lightning Round

The key to bringing yourself out of the “low income” trap 

  • Jen- mindset shifts!!
  • Jill - mindset shifts, equipping yoself to increase earning potential, creativity, thinking outside the box
Wrap-Up:

Thanks so much for listening! Keep leaving us reviews on iTunes or Stitcher, and sending the screenshot to frugalfriendspodcast@gmail.com. AND share our most recent episode on social for a chance to win a copy of the Frugal Friends Workbook!

Thanks for listening! See you next week!

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