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Financial Well-Being

Teaching individuals skills that further their economic self-sufficiency and ability to control personal finances is vital to their success as adults. Learning with practice needs to start as early as possible. Families play an important role in financial planning for the future.

Find Financial Well-Being Resources

Acronym Key: PASS = Plan for Achieving Self Support | ABLE = Achieving a Better Life Experience

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Add Financial Well-being Items to My Action Plan

Build your Action Plan by selecting relevant items below to add goals for yourself or someone you support. Click “Add to Action Plan” to save items. Your selections from all categories will appear in “My Action Plan.” To remove an item, click “Remove from Action Plan.”

Build your Action Plan by selecting relevant items below to add goals for yourself or someone you support. Click “Add to Action Plan” to save items. To remove an item, click “Remove from Action Plan.” To see your Action Plan, click on the “View My Action Plan” button to the right or near the bottom of the page.

View your plan to download or print it.

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Browse all recommended action items below or use these filters to narrow down results by category or age.

What type of financial help are you looking for?

What is the age range of the person needing help?

21 results found

Managing Money
Learn about money: why is it important, how does it work?, What do typical items cost?, How do you get money?, How do you pay for items?

Approximate age: As early as possible & ongoing

Who can help: Individual, Family/Guardian, School/IEP Team

Managing Money
Consider strategies for practicing earning and using money, for example: an allowance for doing chores or a simple neighborhood “job” such as walking a neighbor’s dog or helping to clean in a neighbor’s yard.

Approximate age: As early as possible & ongoing

Who can help: Individual, Family/Guardian

Managing Money
Learn about budgeting and the difference between needs and wants. Practice making choices about how to spend money and how to use a budget to reach personal goals.

Approximate age: As early as possible & ongoing

Who can help: Individual, Family/Guardian, School/IEP Team

Managing Money
Explore options with your bank (e.g., joint bank account) to learn about money and management.

Approximate age: Early (10-14) and middle (14-16)

Who can help: Individual, Family/Guardian

Managing Money
Learn about money safety, how to spot scams and how to say “no” to requests for money.

Approximate age: As early as possible & ongoing

Who can help: Individual, Family/Guardian

Managing Money
Consider estate planning, a living trust and a special needs trust. Seek out a lawyer that specializes in special needs planning.

Approximate age: As early as possible & ongoing

Who can help: Family/Guardian, Lawyer

Managing Money
Consider opening an ABLE account, which allows people with disabilities to save money for certain categories of expenses without affecting their benefits.

Approximate age: As early as possible & ongoing

Who can help: Individual, Family/Guardian, NC ABLE staff

Managing Money
Write a letter of intent for your special needs trust.

Approximate age: As early as possible

Who can help: Family/Guardian, Lawyer

Managing Money
Revisit your will.

Approximate age: Every 8 years

Who can help: Family/Guardian, Lawyer

    Resources:

Managing Money
Learn about Financial Wellness. What does this mean?, What does it look like for individuals with disabilities?

Approximate age: Middle School & ongoing

Who can help: Individual, Family/Guardian, School/IEP Team

Managing Money
Consider obtaining a debit card and/or credit card, with safeguarding strategies and monitoring as needed (i.e., prepaid cards, spending limits).

Approximate age: Middle to High school

Who can help: Individual, Family/Guardian

Managing Money
Learn about paying taxes.

Approximate age: High school

Who can help: Individual, Family/Guardian

Managing Money
Ask about including financial well being goals planning in transition plan portion of IEP.

Approximate age: High school

Who can help: Individual, Family/Guardian, School/IEP Team

Managing Money
Explore online money management tools.

Approximate age: High school

Who can help: Individual, Family/Guardian

Accessing Financial Support
Seek out benefits counseling and/or use the online tool, DB101 to explore how (and whether) income will impact one’s benefits

Approximate age: As early as possible

Who can help: Individual and Family/Guardian, Benefits Counseling Services

Accessing Financial Support
Learn about financial rights for individuals with disabilities.

Approximate age: Middle school

Who can help: Benefits counseling services, Attorneys, Local Banks

Accessing Financial Support
Figure out the areas in which support is needed by taking a financial well-being assessment.

Approximate age: 14-16 and ongoing

Who can help: Individual and Family/Guardian

Accessing Financial Support
Determine the need for government-based financial support (Supplemental Security Income, Social Security Disability Insurance, Medicaid, Medicare). See Adult Services action plan for more details.

Approximate age: 16

Who can help: Individual and Family/Guardian

Accessing Financial Support
Consider establishing a Representative Payee for Social Security Benefits/Medicaid/Medicare, if appropriate.

Approximate age: 18

Who can help: Individual

Accessing Financial Support
Consider other sources of Income and Savings: Savings Accounts, PASS Accounts, Individual Development Accounts.

Approximate age: High school

Who can help: Individual, Family/Guardian, Social Security Administration (SSA) Representative, Benefits Counselor

Accessing Financial Support
Contact NC financial assistance programs such as First in Families, Temporary Assistance for Needy Families, Community colleges, Religious organizations.

Approximate age: When needed

Who can help: Individual and Family/Guardian

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Disclaimer: These action plans are for informational purposes only. It is not intended to be comprehensive, and should not be taken as legal advice. Services and programs mentioned may vary by county. Please consult with professionals with expertise in this topic area for guidance specific to you, your family or student/client’s situation. The “approximate age” listed with each item is a general recommendation for when to get started on an action item; however, everyone has a different timeline and for many of the items, it’s never too late to take action! Have a suggested correction or addition to this checklist? Email worktogethernc@med.unc.edu.

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