06/23/2025 “Tips on How to Stretch Your SSA, SSDI, and SSI Benefits” By Kaylee McGrath

Opening Statement:

Relying and living on Social Security (SSA), Social Security Disability Insurance (SSDI) or Supplemental Security Income (SSI) can feel like a balancing act for retired adults (disabled or non-disabled) as well as younger adults. With the rising cost of living and limited income, many individuals may struggle to save money, manage, or utilize their benefits fully and properly. However, by following some practical tips and suggestions, you can effectively manage your finances and can stretch the most out of your SSA, SSDI, and SSI benefits.

Understanding SSA, SSDI, and SSI Benefits

To make the most of your benefits, it's important to understand SSA, SSDI, and SSI. Let us begin with SSA as it provides social security benefits to those who are of retirement age and/or to those who are disabled adult children who were diagnosed before the age of 22 years old. SSDI provides financial assistance to individuals unable to work due to a disability, while SSI supports those with limited income, including those who may not have a work history. Knowing these differences can help you navigate your finances and plan for future expenses.

Creating a Budget That Works for You:

·       Budgeting might seem overwhelming, but it is an important factor for managing your money. Begin by listing all of your income and expenses. Fixed costs such as rent, utilities, and groceries should be at the top of your list.

·       Utilizing budgeting apps or spreadsheets can simplify this process. Categorize your spending and set monthly limits for discretionary expenses like entertainment and dining out. Effective budgeting allows you to visualize your finances and maintain control over your spending.

Cut Down on Housing Expenses:

Housing can take up a large portion of your income. Listed are some effective strategies to decrease your housing costs:

·       Downsizing: If your current living space is larger than you need, consider moving to a smaller, more affordable place. Even a one-bedroom apartment can save you hundreds a month.

·       Roommates: Sharing a rental with a reliable roommate can help cut your rent in half.

·       Housing Assistance: Look for local programs offering rental support or subsidized housing specifically aimed at individuals on SSDI or SSI. For example, a HUD-sponsored program can assist with rent payments, which may lower costs significantly.

These strategies can lead to substantial savings, allowing you to allocate more money towards essential needs. Always check to see if taking in a roommate or renting out extra space in your home can be an issue with your SSA, SSDI, or SSI benefits.

Energy Efficiency Tips:

Reducing utility bills is another effective way to keep more money in your pocket. Here are some techniques to save on energy costs:

·       Energy Audits: Many utility providers offer free energy audits, helping you identify ways to reduce consumption and costs.

·       Energy-Efficient Appliances: While they may require an initial investment, energy-efficient appliances can reduce your electric bill. For instance, replacing a standard lightbulb with an LED bulb can decrease lighting costs by up to 75%.

·       Thermostatic Control: Adjusting your thermostat by just a few degrees can result in energy savings of about 10% on heating and cooling bills.

By saving on utilities, you’ll have more room in your budget for other necessary expenses.

Take Advantage of Community Resources:

Numerous organizations offer resources that can greatly ease your financial burden. Consider the following:

·       Food Banks: Local food pantries provide access to nutritious food, which can significantly lower your grocery costs. According to Feeding America, food banks helped feed over 40 million individuals in 2022.

·       Medical Assistance Programs: Research if you qualify for programs that cover extra medical expenses, such as transportation to appointments.

·       Discount Programs: Investigate community programs that offer discounted public transport, various utility assistance, or recreational opportunities.

·       Various Free Promotion Days: Various convenient stores/restaurants like Wawa, 7-Eleven, IHop, etc. have free promotional days offering from free coffee, free pancakes, free breakfast, free or buy one get one hoagie often during the year. Generally, by signing up on rewards programs can also get you various free stuff. 

Using these resources can stretch your budget and enhance your overall quality of life.

Shop Smart for Groceries:

Grocery shopping can quickly become a costly concern, but strategic planning can yield significant savings:

·       Meal Planning: Creating a weekly meal plan prevents impulse purchases and helps you stick to your budget.

·       Buy in Bulk: Purchasing non-perishables in bulk, such as rice or canned goods, paper goods, can lead to long-term savings. For example, buying a 25-pound bag of rice instead of smaller packages often reduces the cost per serving.

·       Buy One-Get One or at 50% off: Great for either frozen foods, various meats and poultry, salads, coffee, ice tea, etc.    

·       Use Coupons and Apps: Leverage grocery store apps and loyalty programs for discounts, possibly saving you 20% or more off your total bill.

Being mindful of your grocery habits helps preserve your benefits while enjoying healthy meals. Just make sure to always check expiration/or best to use dates, and store or freeze the items safely to use in the future.

Explore Side or Part-time Work Income Opportunities:

Concerning SSA, always verify with Social Security about earning money while receiving SSA benefits. If you are retired, having a part-time job should not affect your monthly benefits. If you receive SSA through your parents Social Security Record because you are a disabled adult child, you need to check to see how much money you can earn while receiving SSA under your parents’ record. Although SSDI and SSI have strict guidelines regarding additional income, there are ways to supplement your earnings without jeopardizing your benefits:

·       Part-Time Work: Some SSDI recipients can participate in part-time work. Always verify first with the Social Security Administration (SSA) about how much you can earn without impacting your benefits.

·       Freelancing or Performance Jobs: If you possess skills in writing, design, music, art/photography, or other fields, freelancing could provide extra income.

·       Selling Crafts or Goods: Items such as handmade crafts, oil/watercolor/acrylic paintings, ceramics, or thrifted finds can be sold online or at local markets, allowing you to earn extra money.

Always stay updated on the regulations regarding income to avoid risking your benefits. Any money you earn and collect via PayPal, Zelle, Venmo, etc. over $600.00 must be reported as additional yearly income.

Invest in Yourself:

Investing in yourself today can yield financial rewards tomorrow:

·       Skills Development: Learning a new skill or trade can enhance your job prospects if you return to work in the future. Online platforms like Coursera and Udemy offer free or low-cost courses.

·       Educational Programs: Seek out free community resources that help develop job-related skills. Local libraries often host workshops in various fields. Additionally, you can look into adult night school courses that are very affordable.

Focusing on personal development can create opportunities for better financial stability.

Monitor Your Benefits

It’s essential to stay informed about your SSA, SSDI, and SSI benefits and any potential program changes:

·       Annual Statements: Review your benefits at least once a year to verify accuracy.

·       Stay Informed: Engage with support groups or online communities focused on disability resources. These platforms can provide valuable information and insights on managing your finances.

Connecting with others in similar situations can motivate and inspire you to explore new options.

Closing Statement:

Living on SSA, SSDI, and SSI can sometimes feel you are living paycheck to paycheck. By implementing these financial strategies, you can discover ways to stretch your benefits further. From careful budgeting and energy efficiency to exploring community resources and opportunities for supplemental income, various options can reduce financial stress and improve your quality of life. Stay proactive, informed, and empowered. Making your retirement and/or your disability benefits work for you is key to enjoying life while managing expenses. Something that I know helps me a lot is my bank (Wells Fargo) has a monthly spending report that is extremely helpful to budget myself.  Some banks also offer a monthly budget for you to use that are very easy to use and stick to a budget. Now that you have these effective strategies, it’s time to take control of your financial future! For those reading this article, please keep in mind individuals with various disabilities have a unique and meaningful purpose in the workforce as well as contributing to volunteer work. We work as much as we can even part-time a few hours a week. We definitely contribute to the economy by purchasing groceries, furniture, cellphones, paying monthly utility bills, etc. The money that we earn, (even part-time work) we pay our taxes just like the non-disabled Americans.    

Source of Information: Various Google Searches and Personal Experiences/Opinions

Until Next Week, Stay Safe and Well!