Financial Living
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This week, Living With Disabilities will talk about living on a fixed income and why people with disabilities only get so little when it's not enough to hold us off for a week.
Before we discuss this issue, let's clarify the meaning of disability income. There are two Social Security Administration programs. Supplemental Security Income (SSI) and Social Security Disability Insurance (SSDI). People with disabilities and elderly people with little to no income or resources get monthly benefits from SSI. People with disabilities that prevent or restrict their capacity to work are eligible for SSDI monthly benefits.
Now that we have addressed it, let's move on to the more important aspects of this topic. People with disabilities typically have very little flexibility in the amount of money they receive, relying on a fixed amount from one or two sources. It can become a tremendous challenge to try to make ends meet while on a low budget. Financial uncertainty can result from not having enough money to cover daily living expenses while costs are rising. This can lead to stress and concern.
Living on a low income implies that you are dependent on a fixed amount of money coming in from one or two sources, meaning that you have very little influence over how much money is supplied to you. Knowing that people with disabilities are on SSI or SSDI, when they say the struggle is real, there is no fabricating there.
How can people with disabilities manage their finances while relying on disability income to make ends meet? Each person with a disability has unique financial needs, which may require extra assistance. If they are experiencing financial difficulties, it would be evident from the absence of any extra assistance. People with disabilities struggle to save due to insufficient income. The amount offered varies by person.
How can people with disabilities increase their income?
As quoted from the 1973 film, Robin Hood, Rob the poor to feed the rich. Some people with disabilities are on the low-income spectrum, so receiving money isn't easy. People with disabilities don't get enough income to hold them off for a month at times. And some are not able to work due to their disabilities. So, how can they make money to help bring food to the tablet or even buy essential needs? Increasing revenue can be approached in various ways, but the question remains: will it be enough to meet your needs? starting a business, such as selling handmade goods. Among these are blogging, event organizing, beauty product sales, pet sitting, and event planning.
There's also the concern of benefit loss when it comes to raising income. Furthermore, not every disabled person can work, which makes this extremely important. Finding side work or starting their own business based on a hobby so becomes a source of additional money. And sometimes even that is insufficient.
Can a person lose their benefits if they apply for a job? This is an issue that will come up from time to time, particularly if you are a disabled person because it is ultimately about making ends meet. You may no longer be eligible for compensation if evidence indicates that your condition or disability has improved.
Is it possible to request multiple SSI benefits? is one of the most important queries Living With Disabilities has here. The maximum monthly SSI benefit for 2024 is $943 for an individual and $1,415 for a couple, according to the Social Security Administration. Depending on several criteria, including your living condition, income, and those of a specific family member, your amount could be less.
The same question follows for SSDI: Is it possible to request multiple SSDI benefits? No, as far as we can tell. For up to 50% of the disability benefit, the Social Security Administration is only able to provide a specific amount to each eligible family member. But the amount they can give your family is limited.
Why does the government maintain the status of disabled individuals below that of the poor? The government believes that low-income individuals with disabilities have little influence on government officials. The people who control our government are essentially paid more than big businesses and the rich.
Living With Disabilities Presents: The Advocacy Table
a space created for people with disabilities to be able to have freedom of speech and talk on different topics surrounding the disability community. To get more details, check out The Advocacy Table. To become a panelist, Write into the show and let the host know what topic you want to talk about. She will then send out a group email to all panelists after the show has reached five or ten people. After the show, a survey will be emailed to you, and we would love to get your feedback.
If you need online support, Disability Safe Haven is great for receiving support. The We Care Team is very protective of its members and asks everyone who joins, to have a profile picture and answer the security questions.
Another online support, Living With Cerebral Palsy, is great for people with cerebral palsy and for family and friends who want to learn more about different types of cerebral palsy and how to support their loved ones who have it. This group has open and closing hours and a 24/7 chatroom. Open and closing hours are based on United States time zones.
To become a guest on Living With Disabilities
https://docs.google.com/forms/d/e/1FAIpQLScN0j1lThH8KaknxmeXIESTBC5NJWJjj9V0jubnYT5yMAffiw/viewform?usp=sf_link
Reference Links
https://www.doola.com/blog/side-hustles-for-disabled/
Podcast Link
https://podcasters.spotify.com/pod/show/livingwithdisabilites/episodes/Financial-Living-e2flruo
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