Low income can mean different things to different people. Traditionally, it refers to people who are having difficulty providing for their basic needs. But anyone can go through a prolonged but temporary low-income period, perhaps because of unemployment or steep medical bills.

Regardless of income level, anyone who has income needs to use financial planning principles.

Start with managing your cash flow to avoid debt so it doesn't become destructive. Interest rates are sometimes high, and every dollar paid toward consumer interest is a dollar that's not available to meet needs. That's throwaway money.

The best way to avoid excesive debt is by using a budget, a spending plan, an income and expense statement -- it doesn't matter what you call it. Live within your income capability. When you're in the working poor category, you're already struggling to make ends meet. You're trying to live ordinary lives, provide for your children, participate in school activities and have fun on weekends. It's a struggle.

Every dollar adds up
Budgeting means keeping track where the money goes -- every cent.

It's easy to spend cash for items that don't offer a receipt -- fast food, soda at 7-11. That eats away at resources. Without logging and recording what you're spending, you don't realize that $2 a day or more is no longer available to meet family goals.

Consider savings a fixed expense. If you can set aside $5 a week, you are $5 ahead. It's not much to begin with, but it creates a pattern of working for the future instead of coping with the past. Debt represents past acquisitions, and it can carry forward for years. Savings creates a new mentality about your resources. It says your future is more important than the past.

A financial planning expert can help you decide what expenses can be cut or reduced, and also assist you in spending your money more wisely. He may have ideas on how to shop for cheaper car insurance, for example.

Finding affordable help
How do you get a financial planner to help you when you have barely enough money to pay the utility bills? There are financial planners across the country who do pro bono work; they donate some of their time or, in some cases, charge a reduced rate. It may take a little work on your part to find them, but a few phone calls to financial planners in your area could get you on the right track.

In the meantime, your best bet may be to call the chapter of the Financial Planning Association that's nearest to you. Ask if they know of anyone in your area who does pro bono or discounted financial planning. Another option is to check with your local community colleges. They may offer courses that could help you or they may have a good idea of what resources are available. It will take some time and effort, but the payoff could be well worth it.