Financial Capability Building

Financial capability building is combining knowledge with the confidence to use it to make smart financial choices.

Financial empowerment is critical to helping job seekers and workers with disabilities overcome poverty, according to research. Competitive, integrated employment is often not enough to support people in achieving their financial goals. Training and counseling on how to manage money and finances can help with this.

Use these strategies and resources to help job seekers with disabilities to build their financial capabilities, create financial goals, take the steps needed to achieve them, and develop confidence to make smart financial choices.

Practices | Strategies | Tools

Promising Practices


Following are some goals to strive for to improve the financial capabilities of youth and their families. You can introduce the following resources to youth and families or use them to supplement services and supports you provide.

Goals of Financial Capability Training and Counseling:
These are some of the outcomes used to measure the success of financial capability training activities. Families and youth:

  • Budgeting

    Understand income and expenses. Learn about money tracking tools and how to use them.

  • Saving

    Identify ways to save money to reach short and long-term goals. Learn about having a bank account.

  • Dealing with Debt

    Make a plan to pay down debt.

  • Smart Spending

    Understand the difference between wants and needs.

  • Smart Borrowing

    Learn how credit, loans, and borrowing. Learn how to read credit reports.

  • Money Protections

    Understanding rights, financial security, spotting abuse, and avoiding exploitation.

Financial Literacy

Why is financial capability building counseling and training considered a best practice?

Youth who met with a financial coach had twice the total weekly earnings.

Source: Wisconsin Promise


Strategies


The following strategies can be incorporated into your financial capability training or counseling supports and services you provide to teens and families.

Connect to Training

 
 

Your Money, Your Goals Training

from the Consumer Financial Protection Bureau (CFPB)

Access the Training

Financial Literacy for High School

from InCharge Debt Solutions

Get the Curriculum

Financial Lessons for Special Needs Students

from Practical Money Skills

Practical Money Training

Consumer Credit Money Tools

from American Consumer Credit Counseling, Inc.

Financial Literacy Information

Tools


Following are some tools and resources to connect people you serve with information to improve or increase their financial capabilities.


Tools and Activities


Articles for Youth and Families



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