RFA: Money Basics

RFA Money Basics Graphic for Main Blog Post Graphic

The Texas Council for Developmental Disabilities (TCDD) issued a Request for Applications (RFA) for a Money Basics Program (RFA 2020-15). Through this grant, one organization will develop a universally available or replicable program that will increase the money management skills of adults with intellectual and developmental disabilities (IDD). The project will educate, train, and support people with IDD so they can manage their money more effectively and have more control over their own lives.

Background

While many Texans with IDD are now more capable of saving money and building assets, they may not possess money management skills. Some adults with IDD may not understand fundamental money basics, including how and when to spend money, how much things cost, and how to save. Individuals with IDD may understand how to do the math, but not understand how to spend or budget in an effective way. It is important that individuals with IDD who have an income, either through employment or public benefits, understand the fundamental money basics so they can not only be more self-determined and independent, but also save and build assets.

About the RFA

If people with IDD manage their money effectively, they’ll be more likely to be able to save for the future, stay out of debt, and ultimately have more control over their own lives. To manage their money effectively, people with IDD need two things: knowledge and tools. Knowledge is critical for people to have a foundational understanding of how money and finances work, and tools are important because they help people practice and implement what they learned. Without the combination of the two, there is a risk of knowledge not being retained and ultimately not being successfully applied to real-life situations.

Knowledge about money management could be acquired in the form of in-person trainings, printed guides, and/or digital self-paced courses. Tools could be available as either printed or online forms. The use of technology could also be incorporated into the project to support ongoing education.

A project to teach people with IDD money basics and provide the tools necessary to successfully manage their money could take many forms. A project could include:

  • In-person or remote trainings
  • Online or printed curriculum and resources
  • Technological solutions (e.g., a website or a web-based app)

This list is not exhaustive, and organizations are encouraged to submit their own innovative ideas. The resources and tools developed through this RFA should be able to be replicated elsewhere in Texas and/or implemented statewide.

The funding amount for this RFA is $150,000 for up to five years. Funding is available for up to one project.