City Year LA Orientation Guide May. 2015 | Page 25

Living on a Budget
Service organizations like AmeriCorps, the Peace Corps and City Year use a living stipend that fits the poverty
line of the communities volunteers serve in. A stipend is not like a regular
paycheck: this is compensation for volunteer work, and the amount of
money you’re getting reflects that. This serves several purposes:
1. It links the experiences of the surrounding community to those that
they serve through financial parity.
2. It reflects the leadership and professional development you receive
throughout the year.
3. It maximizes funding given to AmeriCorps and affiliated nonprofits
This often means that one of the largest concerns for anyone joining
national service is personal finances. While it may be hard to budget your
stipend over the course of the year it is also important to note that, in Los
Angeles, over 1,500 AmeriCorps members have graduated before you and have successfully lived and
enjoyed LA for a year or more. In addition to your stipend, it is possible that other benefits like free public
transit and loan deferment can supplement your income.

Budgeting
Budgeting is an extremely important part of service. As an AmeriCorps member you will be receiving a small
volunteer stipend and you will be working hours that will make it difficult for you to have a second job in order
to supplement your income. Below are some best practices and tips from previous AmeriCorps Members to
set you up for success during your service year.

#1 Capture all of your income & expenses
The first step to creating a budget is to figure out