How much should I save from my disability every month?

At the end of the month I never save any money.

Public Comments

1. Depending on your exact circumstances, the percentage you should save could be different. However, for most people that are trying to save enough to improve their lifestyle moving forward, a minimum of 10% should be saved to invest. If you are having trouble saving any money, then eventually, some of your bills or emergencies will hit and create a big hardship. I would suggest looking into setting up a budget to help you prioritize your spending so you can determine where you can cut back or manage your cash flow better. If you then can truly not squeeze any more out of your budget, your only answer would be to see if you could increase your income, obviously in line with the conditions of your disability as well as the physical limitations created by the disability. Good luck.
2. It totally depends on your situation - if you are only getting say $800 a month, it is difficult to save much of anything. I have some general tips, though - I am disabled, as is my brother and many others we know. Here are some things I notice: A lot of disabled folks sign up for contracts for things. Don't do that, if you can avoid it! Get a Net 10 cell phone, if you MUST have a cell phone. It is cheaper than a contract phone, and no penalty if you can't buy more minutes (but you will lose what's left, so use them up). See how you can sign up for cable or satellite without a contract. Do you really NEED cable or satellite TV? Can you do Netflix for cheaper, or go to the library for DVDs? Learn to cook from scratch. It is wayyy cheaper. Try to drive less. Think harder before you buy something - do you need it? What will it cost to maintain what you purchase? will it fit in your tiny house/apartment? Consider moving to a lower rent area. My brother and I moved to a rural area. If you love the city, that may not be a safe option, of course. Anyway, there are a few tips. My brother is on SSI, and does pretty well, because he is a tightwad. I have more money than he does, but am also a tightwad.