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.
Sponsors:
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- New Year’s Resolutions. Remember those? The goal you made a month ago to do this or stop that? Studies show that 80% of people give up on their resolutions by the end of January. Your resolutions want you to know that you don’t need a new year or even a new month to recommit. You can get back on track TODAY and when something else comes up, forgive yourself, recommit again, and get better as you go. New Year’s resolutions: Don’t be makin the same one next year.
Check out this episode for more inspiration for low income earners:
Notable Notes
What the Internet has to say:
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
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!
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!