Would buying gold or silver coins or collectibles count as savings? If not there are other items that can be purchased new or used that have a high resale value and thus could be used as a store of savings without actually being cash, though the only affordable one on this list, for a poor person, would be the Ann Taylor clothes: https://blog.cheapism.com/best-resale-value-products-14004/#...
Obviously not a solution, and these options are worse in many respects than a basic savings account, but if a savings account isn't an option they may be a good idea. Assuming, of course, that total assets aren't accounted for by the assistance programs.
It depends on the assistance program, but yeah, this is one reason poor people make 'stupid' financial choices. Resaleability is a concern in my purchasing habits as someone whose financial life is likely to fluctuate throughout my life due to disability.
I'm wondering if a person in your position could set up a living trust to be the official "owner" of your assets, and thus get around the savings and income limitations.
Probably not, or rich people would already have abused the system, and a lawyer who could give advice on whether it was legal or not would cost too much.
Obviously not a solution, and these options are worse in many respects than a basic savings account, but if a savings account isn't an option they may be a good idea. Assuming, of course, that total assets aren't accounted for by the assistance programs.