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StitcherSome days we’re winning, but there are also days when we’re just making do with what we’ve got to get by. And that’s okay. We see you, and we’re here to help you through those moments when it feels like you’re running on empty. In this episode, Jen and Jill share stories of living on a low income and escaping debt on a tight budget.
You are living on a low income right now but you are NOT a low income person.
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- Gettin’ the most. Like a 2-for-1 deal, jumping into the deep end head first, or scraping up the last bits of cookie dough from the bowl – we love enjoying things to their fullest extent. Like with the book we just wrote! You can get the most helpful tips, actionable steps, AND stories mixed with research all aimed at helping you get the most of your money. This book is now available wherever you buy books it’s called Buy What You Love Without Going Broke.
Check out some relevant episodes
How To Live on One Low Income
This article from Caroline Vencil gives details and encouragement on how to live on one low income.
What Jen + Jill have to say:
While shopping, ask yourself, “Do you really need the products you are buying?”. Jen wants you to prioritize your needs when your money is tight. You can try buying second-hand clothing or furniture! Find a discount grocery store, and if you can’t find one near your area, look for buy-nothing groups, farmers markets, and online communities for you to cut your grocery bills. Focus on the basics, such as transportation, food, shelter, and bills. Recognizing where your mindset is at and shifting it to an attainable and positive one.
Jill encourages everyone to remove the mindset that they will be low-income forever. Accept where your current income is, but make sure it’s not staying at the same place. It is totally within your capabilities to live here and to progress.
How to Become Debt Free With a Low Income
This article from You Need A Budget gives an example of how to pay off debt on a very low income.
What Jen + Jill have to say:
The article laid out a process so people can plan how to budget with a low income, and Jill finds this extremely helpful. However, customize the process to fit into your own–be creative. It is always good to have a plan but give yourself small rewards as you accomplish things.
A powerful psychological tool to make significant breakthroughs for Jen is focusing on one thing at a time. Taking things all at once can feel overwhelming and discourage you in so many aspects. Try cutting back some expenses to get out of debt quickly. (i.e., lifestyle changes for a season – limited entertainment, no gifts/presents, no vacation, etc.).
The key to bringing yourself out of the “low income” trap
Mindset shifts are significant in bringing yourself out of the “low-income” trap, according to Jen. Meanwhile, Jill assures that everyone can stay at their current work and find creative ways, whether in side hustles or equipping themselves to increase their earning potential.
Bill of The Week
Thank you Ellie from Israel for sharing your bill of the week about celebrating your promotion and extra bills you found in your clothes to spend on a date night.
Thanks so Much for Listening!
Thanks so much for listening. We love love love reading your kind reviews and we especially loved this one from:
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Great Podcast!
I have never been a podcast girlie but I listen to frugal friends every day that I work from the office. I listen to one episode on my way in and one episode on my way home. This podcast has given me a bunch of tips and tricks on how to be a better adult all around. I appreciate that consistently listening to this podcast has helped me stay true to my goals and make progress more quickly. I have always been a consumer and changing the mindset to values based spending is hard, but Jen and Jill make it a lot easier! Thank you for all that you do and the information that you are putting out into the world.
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