So, let’s talk about what to do if you have low-income or maybe the occasional no-income situation and are finding it hard to save. What can you do to budget and save for future expenditures, let alone a retirement fund? It is much harder for those impoverished to improve their situation than it is for those in our middle-class, especially today. That being said, there are many poor that have much more drive, determination, and fortitude than some who have money. I can guarantee you; many low-income Canadians struggle with a lot more hardships and many things that most middle-class Canadians would never be able to endure. Poor people, especially single parents, have a lot of challenges and not having enough money for ordinary things that others take for granted causes many in poverty to make decisions that are necessary at the moment, not having the luxury to save for the future.

So, what tricks and tips can someone with low-income do to find money to save. Simply telling you to say “no” more often is not the answer, since I am sure you already do this more often than you would like. What about if I tell you to make more sacrifices, commit to a budget, hold yourself accountable, sell your possessions or start collecting your loose change in a jar? That won’t do either, will it? The real answer to life-long saving and improving your situation right now is in this statement: “The fastest way to save more money is in your ability to earn it.” Now, I know most of you will say that’s too simplistic and you would rather me give you an investment product or money scheme to try instead – but honestly, this is the only way to improve your situation. You must believe in yourself and believe in your ability to earn more income. Stay with me here.

The fact is you are only making the income that “you feel” you are worth right now. You could be earning more, but instead it is you that has chosen to accept your lot in life, and it is you that believes you are only worth what you currently have and what you currently earn. If you believe that you are only worth minimum wage, then that is all you will make. For all of you that are in comfy careers – you too are only earning what you believe you are worth and no more. This is what you have convinced yourself and your employer you are worth. If you believed you worth more, you would earn more. You would do everything that it took to make a higher wage, you would change employers, take courses, and walk with the confidence and demeanour that says, “I’m worth it.”

That is the difference between high income earners and low-income earners. Yes – I know that education, training and skills have a lot to do with it too, but there are a lot of people that have multiple university degrees, and they are not working in their field of study, but rather working for a fraction of what they are worth and doing a job that just pays the bills. Conversely, there are people who have very little education, but have a massive drive to succeed. They educate themselves; they believe they are worth more and they absolutely refuse to be kept down by anyone. You can earn what every you want in your lifetime, but you first must increase your productivity, your performance and create a decisive goal setting plan.

Be specific, strategic, and always optimistic.

I want you to reprogram your thoughts and stop saying “I can’t” because you totally can. It doesn’t matter what happened in the past – dump it from your mind and make sure you never run back there. Instead keep moving forward make the right changes for 2023 and challenge yourself to get more. Send me your financial questions and I will try to help ( You can do this!

Of course, if any of my readers have questions about saving for the future or need specific advice about how to retire
debt free and wealthy, you can always email me your questions through the contact page on my website, here: Contact

Good Luck & Best Wishes,

ATML - Christine Ibbotson