Living on Supplemental Security Income (SSI) comes with financial challenges, but with the right budgeting strategies, you can make your benefits stretch further. Whether you're trying to cover rent, food, medical expenses, or savings, this guide will help you create a plan that works for you.
Understanding Your SSI Benefits
As of 2025, the maximum federal SSI benefit is:
$967 per month for individuals
$1,450 per month for couples
Some states provide additional supplemental payments, which can increase the total benefit amount. Understanding your total monthly income is the first step to effective budgeting.
Step 1: Track Your Income and Expenses
The key to budgeting is knowing exactly where your money is coming from and where it's going. Start by:
Listing all sources of income (SSI, state supplements, food assistance, etc.).
Tracking fixed expenses (rent, utilities, insurance, phone bill, etc.).
Estimating variable expenses (food, transportation, entertainment, medical costs).
Identifying non-essential spending to see where you can cut back.
Budgeting Apps to Help You Stay on Track
There are several free and low-cost budgeting tools designed to help individuals track their spending. Some useful options include:
Purple (designed specifically for individuals on disability benefits)
Mint (free budgeting and expense tracking)
YNAB (You Need a Budget) (great for long-term savings goals)
PocketGuard (helps prevent overspending)
Step 2: Prioritize Your Essential Expenses
Your SSI benefits should first cover essential costs. Prioritize the following:
Housing: Rent or mortgage payments should be the first priority. If housing costs are too high, consider Section 8 housing assistance or nonprofit housing resources.
Food: Apply for SNAP benefits if eligible to supplement your grocery budget.
Medical Expenses: Medicaid can help with healthcare costs. Look into Extra Help programs for prescription savings.
Utilities & Transportation: Many states offer discount programs for low-income individuals on electricity, water, and public transportation.
Step 3: Use Community Resources to Supplement Your Income
There are many free or low-cost resources available to individuals on SSI, including:
Food banks and pantries
Discounted internet and phone programs (such as Lifeline)
Nonprofit organizations offering emergency assistance for rent and bills
Medicaid waivers for additional healthcare support
Step 4: Save Where You Can
Even on a fixed income, small savings add up. Consider:
Setting aside $5–$10 per month into an ABLE account, which allows you to save money without affecting SSI eligibility.
Using cash-back and discount programs like Honey, Rakuten, or local grocery rewards.
Shopping secondhand for clothing, furniture, and household items.
Step 5: Plan for Emergencies
Unexpected expenses can quickly derail your budget. Prepare by:
Setting aside a small emergency fund, even if it’s just $100–$200 over time.
Looking into local charities and crisis programs that offer one-time emergency assistance.
Keeping track of low-cost or free medical clinics in case of urgent healthcare needs.
Step 6: Avoid Common Pitfalls
Many people on SSI struggle with:
Overpaying for rent or utilities – Look for housing assistance programs.
Failing to report income changes – This can lead to overpayments and penalties.
Accumulating assets over the SSI limit – Keep countable assets under $2,000 (individual) or $3,000 (couple) to maintain eligibility.
How Purple Can Help You Manage Your SSI Benefits
Managing your finances on SSI can feel overwhelming, but Purple is here to help. Our tools make it easy to:
Track your spending and avoid benefit overpayments.
Set up savings goals without jeopardizing your eligibility.
Get personalized financial insights tailored to your SSI income.
Get started with Purple today and take control of your budget!