Money Basics

Money Skills are the knowledge and tools that people use to effectively manage their money. Today, many people with developmental disabilities (DD) can save money and build financial assets, but some may not have a full understanding of essential money-management basics, including:

• how and when to save money;
• how much things cost; and
• how to save.
     

Having basic money management skills is important for people with DD who earn income through jobs or receive public benefits. These skills help people save for the future, get out of debt, and ultimately have more control over their lives. 

TCDD’s Contribution to Money Basics

TCDD-funded projects have developed programs and tools to increase the money-management skills of people with DD. Money Basics projects have created financial literacy training materials for people with DD that can be modified to serve individual learning styles. They have also developed self-paced online curriculums with tools and resources to help people with DD practice purchasing skills. Some grantees have partnered with local banks and credit unions to enhance existing training tools and materials and make them useful for people with DD.

TCDD has funded the following projects to support money basics and financial planning:

• Project AIMS – Acquiring Independent Money Skills (Texas Tech University)
• Money Basics: Cents and Sensibility (Project Amistad)
• Planning Ahead for Family Support and Financial Security (Family to Family Network)

Money Basics Stories

The following stories show the impact of TCDD-funded projects on people, organizations, and communities.

Building financial understanding
A middle school student with DD acquired confidence through Project Amistad’s Money Basics training to explain financial concepts such as the difference between a debit card and a credit card. This participant went on to present the Money Basics curriculum to his peers, showcasing his deeper financial literacy and receiving praise from the staff at his transition center for his ability to present and engage with his peers on money-related topics.