Life is never easy for people with disability. The day-to-day normal things are also a task for them. In the US, the largest minority is people with disability. Around 19 % of the US population is disabled in some of the other manners. The expense of a person with disability is higher on almost all of their bills. Maintaining life in a world where acceptance is the main concern for such an individual is expensive and harder. Some companies understand their weakness and hire people with disability to work from them which is unfortunate. It leaves such individuals with less earning opportunity and higher expenses.

Some of the primary factors that refrains disable individuals from financial stability is less or uneven income; higher cost of living due to disability needs; and a slim margin in health benefits. Earlier, the government had a law which states that any individual with disability is not allowed to save more than $2000 and, if they do, medicate and other benefits will be discarded. But thanks to Stephen Beck Jr- the man who fought for the rights of people with disability and passed a law that allows disabling individuals to save up to $15000 dollars every year. This is one of the best news for the people’s community with disability and their families. Now, saving can be done for their high-end needs without risking their benefits of medication or other help offered by the government.

So, let me help you with some money saving tips for individuals with disability:

1. Analyze Your Finances

Life doesn’t stop for anyone whether you are perfectly healthy or has some disability. Living your roles to its fullest is the right thing to do for all of us. For a person with disability, it is challenging to do your day-to-day things. However, money issues affect equally on everyone. Hence, evaluating your finances is the first thing to do for starting savings. Staying aware of your income and expenses gives you a clear idea of how to plan your savings. Make sure you are taking advantage of all the facilities offered by the government to you. If you are working or doing business, learn about the ways to save on tax and other surcharges. Evaluate the total earning and expense against it to identify the areas where you can save.

2. Use Disable People Benefits

Most of the stores and companies have special discounts for physically challenged people. Whether it is a grocery, clothing, food or even electronic for special gadgets, there is always a good discount for people with disability. Also, you can buy in bulk for regular utility items at a much cheaper cost by using coupons codes. Sometimes, shopping from malls and stores can be uncomfortable for a person with disability. Therefore, shop from online stores for the better, smarter and convenient shopping experience. Some of the popular online stores are Amazon, Macy’s, Nordstrom and JCPenny which offers an amazing discount throughout the year. So, your money-saving will start with smart spending habits.

3. Save first then Spend the Rest

After being fully aware of your financial status, make sure you wisely decide your saving goals. Based on your medical needs, keep aside a certain amount of your income. You can also create or assign multiple funds to meet your desired goals.

I remember, a friend of mine has a habit of saving money into three different accounts so that she can use that when the right time arises. One of them was a future saving account, the other one was an emergency saving account and the last one was pleasure saving account. She divided her savings based on the priority percentages so that she added certain money to each of her savings. It appeared complicated to me at first but, later I found it was working for her and she ended up saving $10,000 in her pleasure account to afford a foreign country tour. It inspired me and, I copied her too. However, mine is still a long way to go.

4. Buy supplements and medications on discounts

Medication is one of the indispensable costs that will stay with you for long. So why to spend more on supplements? Take a smart move get yourself register with online stores like Bulk Supplements and Vitamin World to get discounted price products. This saved money on medicines can help you in future needs like special gadgets or big items like mattress, couch or a car.

5. Open Special Savings Account

One of the best ways to boost your saving is opening a saving account which is specially designed for people with disability. One such saving account is Achieving a Better Life Experience (ABLE) saving account. Opening an account here does not affect your Supplemental Security Income (SSI), Medicaid, or other federal means-tested benefits. The only condition applies is that your disability should have happened before the age of 26. Anyone from your family can contribute to this saving up to $15000 in a year. This amount is not taxable as long as it is used for the needs of the disabled person.

Nobody chooses to be disabled, it is an unfortunate happening that occur to anyone. But you can always prepare your self financially and mentally to live an equally respectful and self-sufficient life. Preparing yourself to face life without being weak is the sign of true spirit. Adopt money saving habits to become financially independent. Save more on your daily expenses so that in time of emergencies you can help yourself. These tips are applicable in your daily life hence will be able to manage your finance wisely.

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