Living on SSI requires careful budgeting. With the right strategies, you can make your benefits stretch further and cover what matters most.
In this article, we'll cover:
- Creating an SSI budget
- Prioritizing expenses
- Finding additional resources
- Building financial stability
1. Creating an SSI Budget
Know your income:
- 2026 federal benefit: $967/month
- State supplement (varies)
- Any other income
- Total available funds
Track every dollar:
- List all expenses
- Categorize spending
- Identify patterns
- Find areas to cut
The 50/30/20 adapted:
- 50%+ on needs (rent, utilities, food)
- 20% on other essentials
- Save what you can (ABLE account)
- Adjust based on your situation
Monthly planning:
- Budget before month starts
- Allocate for known expenses
- Leave buffer for unexpected
- Review and adjust regularly
2. Prioritizing Expenses
Essential first:
- Housing/rent
- Utilities
- Food
- Medical costs
- Transportation
Secondary priorities:
- Phone/communication
- Personal care items
- Household supplies
- Clothing needs
Cut where possible:
- Entertainment subscriptions
- Convenience purchases
- Impulse buying
- Duplicate services
Important: Never sacrifice essential medications or medical care to save money. Assistance programs can help.
3. Finding Additional Resources
Food assistance:
- SNAP benefits
- Food banks
- Community meals
- Senior/disability meal programs
Utility help:
- LIHEAP (heating/cooling)
- Utility company programs
- State assistance
- Weatherization programs
Healthcare savings:
- Medicaid (automatic with SSI)
- Patient assistance programs
- Community health centers
- Prescription discount programs
Housing assistance:
- Section 8 vouchers
- Subsidized housing
- Rent assistance programs
- Utility included rentals
Other programs:
- Lifeline (phone/internet discount)
- Transportation assistance
- Clothing vouchers
- Disability-specific programs
4. Building Financial Stability
Emergency fund:
- Use ABLE account
- Start small ($5/week)
- Build gradually
- Aim for $500-$1,000
Reduce recurring costs:
- Negotiate bills
- Switch providers
- Cancel unused services
- Share costs when possible
Avoid debt traps:
- No payday loans
- Avoid rent-to-own
- Be careful with credit
- Don't borrow against benefits
Long-term thinking:
- Plan for irregular expenses
- Save for replacements
- Consider future needs
- Build slowly and steadily
Practical Tips
Grocery savings:
- Use SNAP wisely
- Shop sales and discounts
- Buy store brands
- Plan meals ahead
Utility reduction:
- Adjust thermostat
- Unplug unused devices
- Use energy-efficient lights
- Take shorter showers
Transportation savings:
- Use paratransit
- Plan trip combinations
- Walk when possible
- Ask about discounts
Free resources:
- Library services
- Free community events
- Free health screenings
- Volunteer programs
How Purple Helps
Purple supports your SSI budgeting:
- Track spending by category
- See where money goes
- Get balance alerts
- Simple interface
- Early access to deposits