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May 11, 2007

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I like these ideas, but if you're already doing these things and still paying everything you've got to necessary bills (I'm talking rent, car, health insurance, etc. not cable, phone, and so on), it really isn't possible to save even 5% of your income, much less 25%. I find that on a low income, most people are already doing things like making their own lunches, not going out to bars and expensive restaurants, and so on--and are still having a hard time breaking even. Often there's a reason for the lower income, such as poor health or other complications, that can prevent some of the income raising measures like getting an extra job extra.

I guess it all depends on what you consider a low income and what the essential expenditures cost each month. It is different for everyone. Still there are some good tips here for those who maybe aren't being as careful as they could be. I'd love to see some tips in the pf blogging world for those who are struggling due to unforeseen circumstances, such as health problems, which add to expenses and often lower productivity. Thanks for sharing these ideas,too, though, they are good ones.

excellent points.

great post.

In Alberta, low income individuals are struggling to survive. Individuals on AISH (assured income for the severely handicapped) get about $1000 per month in support. How do they survive with rents for homes going up on a regular basis? I don't know. I think the best way individuals on low income can manage to even break even is to share the place they live in with family or live in a group situation. Housing is the biggest cost and if you split this cost - you might be able to use the spare cash to build a small cash reserve which everyone needs. In Edmonton, you can also get Meals on Wheels at a cheaper rate if you are on AISH or a low income. These meals are nutritious, varied and come to the individual's door. They are a fabulous resource for the seniors/adults with health problems. In addition, Edmonton offers low cost leisure facility access and also provides some classes at the City Arts Center and other areas for low cost. Families with kids can access these courses or facilities such as the zoo, the John Jantzen Nature Center and Fort Edmonton Park for substantially lower rates. Finally, the YMCA will offer low income adults and families a lower rate of membership. Currently transportation costs are also subsidized by the City of Edmonton for adults on AISH. It is very proactive for people with limited financial resources to investigate each and every community support available to them. This is not shameful. They are there for a reason. When we needed them, we used them and were grateful that our kids could use the swimming pool, access classes when we simply did not have money to pay for these luxuries. What you can do with limited income is determined by your creativity, persistence and determination. But I have to admit, we had a lot of family support. A strong, supportive extended family net work is one of the best ways to survive poverty.

Great tips.

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