National Disability Institute 6 The mission of National Disability Institute is to drive social impact to build a better economic future for people with disabilities and their families. Copyright NDI © 2015. All rights reserved

healthcare costs on individual finances National Landscape 8 Renewed focus on low wage workers Shift from employment to financial stability Increased understanding of the impact of healthcare costs on individual finances Copyright NDI © 2015. All rights reserved

Why the Shift 9 Welfare reform called for a movement of individuals from welfare to work – this led organizations to take a closer look at what tools an individual and family needed to be economically self-sufficient. Significant research by the Annie E. Casey Foundation and others showed progress when certain strategies (as we will describe) were applied within concentrated low income communities. Poverty numbers started to increase and in 2008 were their highest since 1997. Copyright NDI © 2015. All rights reserved

Asset Poverty Varies Significantly 11 33% of all American households have no assets or are in debt. 54% of Hispanic households have a similar status. 60% of African American households have no net assets. 80% of persons with disabilities have no net assets. Copyright NDI © 2015. All rights reserved

Disability and Poverty 12 People with disabilities are more likely to be unemployed and to live in poverty than any other single demographic group in the United States today. Public benefit programs for people with disabilities, especially Supplemental Security Income (SSI), are not aimed at increasing assets and independence for people with disabilities. More so then any other population on a fixed income, services and policies do not hold the expectation of economic self-sufficiency. Copyright NDI © 2015. All rights reserved

Financial Stability What is it? & Why is it important? 13 Copyright NDI © 2015. All rights reserved

Defining Terms 14 Financial Capability: Combination of knowledge and skills to inform financial decisions and behaviors, identify opportunities to improve financial stability, and manage financial resources effectively. Economic Security: the condition of having stable income or other resources to support a standard of living now and in the foreseeable future. Asset: a resource or item with economic value that an individual owns or controls with the expectation that it will provide future benefit. Asset Development: a series of strategies that can help people improve their economic status. Work Supports: any subsidy or service that supports one’s ability to obtain or retain employment. Copyright NDI © 2015. All rights reserved

Financial Education vs. Financial Capability vs. Financial Stability 15 Financial Education vs. Financial Capability vs. Financial Stability Financial Education (Knowledge & Skills) Financial Capability (Actions) Financial Stability (Outcomes) Copyright NDI © 2015. All rights reserved

Financial Stability What is it? 16 Financial Stability What is it? Financial Stability is a series of strategies that has the potential to: help people with disabilities improve their economic stability, decrease stress and financial crisis in an individual’s life expand opportunities for community participation, and positively impact an individual’s quality of life experience. Copyright NDI © 2015. All rights reserved

17 Paradigm Shift The notion that employment is one goal NOT the only goal. Copyright NDI © 2015. All rights reserved

Strategies 18 Financial Literacy Banking Budgeting Employment Medicaid Credit Repair Employment Use of work incentives Use of tax incentives Earned Income Tax Credit Medicaid Buy-in Family Self-Sufficiency Programs Ways to Work Individual Development Accounts Assistive Technology Loan Funds Student Loans Post-secondary education Self-employment Micro-Enterprise Home Ownership Transportation Protection and Advocacy, Taxpayer Advocates, Credit Counseling, Debt Management, Volunteer Income Tax Assistance, Benefits Specialist, Vocational Rehabilitation Copyright NDI © 2015. All rights reserved 18

Financial Stability Why is it important? 19 The presence of a disability and the need to maintain a public benefit should not require one to forfeit their economic stability and live in poverty. Without knowledge, guidance and encouragement, individuals are not empowered to earn, learn, save and build. To a person with a disability, saving money and developing assets will produce choices that directly impact their quality of life, especially regarding: mental and physical health positive self-concept and level of community participation expectations and status with other community stakeholders Copyright NDI © 2015. All rights reserved

So what’s the barrier? Public attitudes 21 Public attitudes Low expectations of and within the disability community, and Current partnerships don’t support savings and building a financial future. Regulations discourage saving for the future; retirement, emergencies, etc. Copyright NDI © 2015. All rights reserved

Create New Expectations 22 Assume all people want to better their lives. Engage people with disabilities in the conversation. Provide simplified opportunities for individuals to improve their financial stability. Acknowledge the limited financial literacy of all Americans including those with disabilities. Just as you assume competence, assume the desire to live beyond poverty. Expect the systems to adjust to support this movement. Copyright NDI © 2015. All rights reserved

Strategies for Building Financial Stability 24 Strategies for Building Financial Stability Financial Stability for Persons with Disabilities is Achievable! Copyright NDI © 2015. All rights reserved

GOAL GOAL Asset Development Financial Employment Education Free Tax 25 GOAL Benefits Planning & Work Supports Asset Development Financial Education Employment Free Tax Preparation Copyright NDI © 2015. All rights reserved

Building Blocks for Self-Determination 33 A person has the FREEDOM to dream, to make his or her own decisions and plan his or her own life. A person has the AUTHORITY to control how money is spent for his or her supports. A person has the SUPPORT needed from friends, family, and other people whom that person chooses. Individuals take RESPONSIBILITY to do what they say they will do. CONFIRMATION – the recognition that individuals themselves are a major part of the design of their long-term services and supports. Copyright NDI © 2015. All rights reserved

MY AMERICAN DREAM ACTIVITY 34 MY AMERICAN DREAM ACTIVITY Copyright NDI © 2015. All rights reserved

Vision Boards or Action Board 35 A(n) vision board/action board: Creates a visual tool of items we hope to achieve Provides us with a constant reminder of our goal Is our own dream/vision that we have for our future Creates a fun activity to begin and/or enhance the conversation with individuals Assists with identifying short-term and long-term goals towards financial stability Copyright NDI © 2015. All rights reserved

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Example of how NDI Incorporates Vision Boards and Action Boards 41 Example of how NDI Incorporates Vision Boards and Action Boards My American Dream Activity The My American Dream Activity provides an opportunity for individuals to define their American Dream. The activity gives attendees the opportunity to create a vision board. The activity allows individuals to build their knowledge over the course of the program. It is key to allow the individuals to explore their creativeness in developing their Dream Board! Copyright NDI © 2015. All rights reserved

LET’S CREATE A VISION BOARD 42 LET’S CREATE A VISION BOARD Copyright NDI © 2015. All rights reserved

How Do I Create a Vision Board or Action Board 43 Supplies Needed: Poster board or card stock paper Magazines Scissors Glue Markers Copyright NDI © 2015. All rights reserved

Steps to Creating a Vision Board or Action Board 44 Identify that ultimate goal you feel would make you extremely happy or that item(s) that you would really like to have. Locate a picture or image of that item(s). Cut out the image and place it on the board preferably in the center. If you have more than 1 item that is ok put them all on the board. Identify next steps that you need to take to achieve one or more of your goals. Include them on the board as well. Copyright NDI © 2015. All rights reserved

GOAL GOAL Asset Development Financial Employment Education Free Tax 25 GOAL Benefits Planning & Work Supports Asset Development Financial Education Employment Free Tax Preparation Copyright NDI © 2015. All rights reserved

Benefits Planning & Work Supports anything that helps gain and retain employment SSI SSDI Medicaid Medicare ______________ ______________ ______________

Employment Voc Rehab ______________ ______________ ______________

Free Tax Preperation VITA AARP ______________ ______________

Financial Education Budgeting Credit Report ______________

Asset Development ABLE Act Trusts ______________ ______________