March 2019

Consumer Financial 

Protection Bureau 

YOUR MONEY, YOUR GOALS

Focus on People 

with Disabilities

A companion guide to empower the 

disability community
Table of contents

Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

People with disabilities and financial decision making . . . . . . . . . . . . . . . . . 5 

Using the Your Money, Your Goals toolkit and guide . . . . . . . . . . . . . . . . . . . 7

How to begin . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

Tool: Starting the money conversation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

Modules: Your Money, Your Goals for People with Disabilities . . . . . . . . . . 17

Module 1: Setting Goals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

Tool: Paying for assistive devices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19

Module 2: Saving . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22

Tool: Setting up an ABLE Account . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28

Module 3: Tracking Income and Benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31

Tool: SSI estimator . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33

Handout: Workforce Investment Opportunity Act (WIOA) . . . . . . . . . . . . . . 35

Handout: The role of a representative payee . . . . . . . . . . . . . . . . . . . . . . . . . 36

Module 4: Paying Bills................................................. 38

Module 5: Getting through the Month . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40

Tool: Monthly budget . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42

Module 6: Dealing with Debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44

Handout: Total and Permanent Disability (TDP) Discharge . . . . . . . . . . . . . . 46

Module 7: Understanding Credit Reports and Scores . . . . . . . . . . . . . . . . . . . . . 47

Module 8: Choosing Financial Products and Services . . . . . . . . . . . . . . . . . . . . . . 51

Module 9: Protecting your Money . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53

Tool: Identifying financial abuse and exploitation . . . . . . . . . . . . . . . . . . . . . . 59

Additional resources . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62
Introduction

About the Consumer Financial Protection Bureau

The Consumer Financial Protection Bureau (CFPB) regulates the offering and 

provision of consumer financial products and services under the Federal consumer 

financial laws, and educates and empowers consumers to make better informed 

financial decisions. Learn more at consumerfinance.gov.

About Your Money, Your Goals

Your Money, Your Goals is a suite of tools and resources designed for anyone who 

serves people living with low-incomes through non-profit, community-based, or 

private sector organizations or works in a government agency dedicated to helping 

the public. At the center of Your Money, Your Goals is the financial empowerment 

toolkit. The toolkit gives you the tools and information you need to help people set 

and achieve goals; build skills in managing money, credit, and debt; and choose 

financial products that are right for them. Each person has different circumstances 

and things they can benefit from, so you can select the tools that best meet their 

needs and just work with those topics.

Your Money, Your Goals for people with disabilities

This companion guide—Your Money, Your Goals: Focus on People with Disabilities— 

contains information, tips, and tools based on insights from people with disabilities 

and from organizations that serve the disability community. It is centered on the 

core philosophy that everyone has the right to control their money and make their 

own financial decisions.

To assist organizations and their staff and volunteers in using the toolkit and 

companion guide, the CFPB developed an Implementation Guide. The specialized 

information and tools in the Implementation Guide equip staff and volunteers to 

adapt training on and use of the toolkit and other resources to meet the needs of 

people with disabilities. The Implementation Guide includes information and tips 

to enable staff and volunteers to choose accessible locations, develop appropriate 

 INTRODUCTION 3
and considerate training activities, and plan to provide accommodations for 

diverse learning styles and other needs.

The Implementation Guide, along with training slides and videos, and pre- and 

post-training surveys make it easy for organizations to:

■ Train others on the use of the toolkit

■ Integrate the toolkit and training into the organization’s work

■ Develop a referral guide for local, state, and national resources for consumer 

finance issues 

■ Assess whether the training and toolkit help increase the user’s confidence 

about financial issues and decision-making

This guide and related materials are free and accessible

The Your Money, Your Goals toolkit and this companion guide are available as a 

PDF download or can be ordered in hard copy for free. Both documents are 508 

compliant to be accessible to people with disabilities. The individual tools and 

handouts in the toolkit and the guide are available as separate, downloadable PDF 

documents. You can add information directly into the fields of the tools and all 

calculations are now done automatically.

You can find the toolkit, this guide, and additional resources such as the 

Implementation Guide, training slides and videos, and pre- and post-training 

surveys on the Your Money, Your Goals webpage at consumerfinance.gov/yourmoney-your-goals. 

4 FOCUS ON PEOPLE WITH DISABILITIES
People with disabilities 

and financial decision 

making

Millions of people with disabilities1 are confronted daily with significant obstacles 

as they go about their lives, such as lower rates of participation in the labor force. 

The unemployment rate for adults with disabilities is nearly nine percent—more 

than double the national average.

2 For many of those who do find jobs, the hours 

they get are often sporadic, and the pay can be insufficient.

Lack of work affects many areas of people’s lives. A study examining financial 

challenges among people with disabilities found that limited employment 

opportunities can have negative effects on people’s mental and physical health, 

their housing options, and their participation in the community.3 The Disability 

Statistics Compendium reports that in 2017 the poverty rate for working-age 

people with disabilities ages 18-64 was 26.7 percent, compared to 11.6 percent 

poverty rate for adults without disabilities.

4

1 There were approximately 40 million Americans with disabilities in 2017, representing 

12.7% of the civilian non-institutionalized population, according to the US Census Bureau, 

factfinder.census.gov/faces/tableservices/jsf/pages/productview.xhtml?pid=ACS_15_1YR_

S1810&prodType=table

2 This number includes only civilian, non-institutionalized individuals with disabilities. For an 

explanation of how disability was measured for purposes of the report, see US Census, 

census.gov/prod/2012pubs/p70-131.pdf

3 National Disabilities Institute 2014

4 See 2017 Disability Statistics Compendium, disabilitycompendium.org

 PEOPLE WITH DISABILITIES AND FINANCIAL DECISION MAKING 5
People with disabilities are more than three times as likely to be unbanked 

compared to consumers without disabilities. Lack of a bank account can make it 

harder to manage money. And more than 60 percent of people with disabilities 

ages 25-64 have no savings for unexpected expenses that they can turn to in a time 

of crisis.

Many people with disabilities may not have had substantial prior experience in 

making the financial decisions that affect their lives. Family, friends, or advocates 

may have made or recommended those decisions. This may or may not have 

involved consultation with the person. Over time, this may affect a person’s 

perception about whether they can make financial decisions for themselves. In 

some cases, people may be legally represented by someone else to handle their 

finances. Programs that include income or asset limits can also affect how someone 

views money, financial decisions, and their own freedom to take action.

6 FOCUS ON PEOPLE WITH DISABILITIES
Using the Your Money, 

Your Goals toolkit 

and guide

This guide—Your Money, Your Goals: Focus on People 

with Disabilities—complements the Your Money, Your 

Goals toolkit. You can use this guide as a primary 

resource for people with disabilities and supplement it 

with the full Your Money, Your Goals toolkit when you 

need additional information and tools.

The tools and resources in the Your Money, Your Goals toolkit can be used by many 

different people, including:

■ People with disabilities

■ Frontline staff members and volunteers in organizations that serve people with 

disabilities

■ Community members who advocate for people with disabilities, such as family 

members, friends, and volunteers

■ Representative payees or others with fiduciary responsibilities for individuals 

with disabilities, such as family members 

The Your Money, Your Goals toolkit begins with an introduction. This introduction 

is for you—the frontline staff members, volunteers, or other individuals who provide 

services to people with disabilities. This information will provide you with a better 

understanding of the goals of financial empowerment and can help you prepare to 

use the toolkit.

 USING THE YOUR MONEY, YOUR GOALS TOOLKIT AND GUIDE 7
After the introduction, the Your Money, Your Goals toolkit has nine content 

modules. This guide aligns with the nine modules in the toolkit. It describes each 

module and provides additional information and specific tools that may be useful 

for the disability community. The nine modules are:

§ Module 1: Setting Goals

§ Module 2: Saving

§ Module 3: Tracking Income and Benefits

§ Module 4: Paying Bills

§ Module 5: Getting through the Month

§ Module 6: Dealing with Debt

§ Module 7: Understanding Credit Reports and Scores

§ Module 8: Choosing Financial Products and Services

§ Module 9: Protecting your Money

8 FOCUS ON PEOPLE WITH DISABILITIES
How to begin

The introduction to the Your Money, Your Goals toolkit will show you how to use the 

toolkit to discuss financial issues and decision-making with the people you serve. 

The introduction to the toolkit includes two tools:

■ Tool: Financial empowerment self-assessment 

■ Tool: My money picture 

The "Financial empowerment self-assessment" tool can help you understand your 

own financial know-how and how you approach financial decision-making. This can 

help you identify those financial topics where you may want to gain more insight 

from the Your Money, Your Goals toolkit. This can also help you better understand 

how to identify the financial challenges the person you are serving may be facing 

and where in the toolkit you can go for help with that topic.

Have the money conversation

One way to start the “money conversation” with someone is to help them reflect 

on their current financial situation. The "Starting the money conversation" tool in 

this guide may help you figure out where to begin. The tool results will help you be 

better able to provide the information, tools, or referrals that are most meaningful.

Using the tools

YOUR MONEY, YOUR GOALS TOOLKIT

■ Use "Financial empowerment self-assessment" to develop an understanding of 

your own financial knowledge, skills, and confidence level

■ Use "My money picture" to help you assess each person’s goals and financial 

situation, so you can determine which specific modules and tools will help them 

the most

FOCUS ON PEOPLE WITH DISABILITIES

■ Use "Starting the money conversation" to help you to decide where to begin if 

you're working with a person that may have a disability. You can use this tool in 

place of the "My money picture" tool in the toolkit.

 HOW TO BEGIN 9
 GETTING STARTED

Starting the money conversation

This tool helps you identify where someone is and where 

they want to go financially. This can help you choose a 

good place to start in this guide.

Often people with disabilities, like consumers without disabilities, struggle with 

money and financial issues. When you feel the time is right, you can simply ask the 

person to complete this tool.

Because the tool is simple and only has a few key questions, you may be able to 

gather the information in conversation. Reading the questions and recording the 

answers may be especially useful if you are working with a person that has a disability 

that makes reading or writing difficult. Use the following chart to analyze the answers. 

This analysis will help you determine where to start.

What to do

■ Have the person you’re working with answer the questions based on their 

current situation and attitudes. There are no right or wrong answers.

■ Review their answers with them and match their answers to the modules in 

the toolkit. This can help you determine which module will be the most useful 

right now.

A step further

If you keep a copy of this tool, be sure you have a system for keeping the information 

completely confidential. Be ready to describe your system for keeping this information 

secure. As you proceed, follow your organization’s policies when it comes to storing 

and handling people’s personal information.

10 FOCUS ON PEOPLE WITH DISABILITIES
 HOW TO BEGIN 11

Find a place to begin by Starting the 

money conversation

1. Answer the following questions based on where you are today.

2. Your answers will help to identify the information and resources that can help you address the 

financial issues you care about. 

Question. Yes. No.

I don't 

know.

1. Do you have a disability you are comfortable disclosing?

2. Do you have goals?

3. Are you at risk of losing your housing, car, or utilities because 

you cannot make payments?

4. Do you have reliable transportation?

5. Do you have a reliable source of income? 

6. Do you have money set aside to cover emergencies or 

unexpected expenses?

7. Are you able to cover all of your bills, living expenses, and 

meals for your household each month?

8. Do you have financial resources to pay for assistive devices or 

adaptations that you need?

9. Do you owe a person, business, or the government money?

10. Have you been unable to get a loan, credit card, apartment, 

car, or job due to a bad credit record?

11. Do you have a checking or savings account at a bank or 

credit union?

12. Do you think your identity has been stolen? 

Have you experienced fraud?

13. Do you make the decisions about your financial resources or 

feel like you have control over your finances? 
12 FOCUS ON PEOPLE WITH DISABILITIES

Use the following chart to help you analyze the responses in money 

conversation questionnaire. This analysis will help determine where to start 

the financial empowerment discussion.

Response.

1. Do you have a disability 

that you are comfortable 

disclosing? 

Answer: Is "Yes" or "I don't know"

With your client

■ Inquire about the type of disability and inform the person 

you’re working with that they may qualify for disability-specific 

benefits and resources available in most states. 

■ Contact the local Department of Health and Human Resources 

and Department of Rehabilitation for additional support and 

information or visit benefits.gov.

2. Do you have goals? Answer: Is "Yes"

Review

■ Your Money, Your Goals Module 1: Setting Goals in the toolkit. 

■ Or, based on the response, select the most relevant tool in this 

guide to start the financial empowerment discussion. 

With your client

■ Make an action plan for each goal and calculate how much the 

person you’re working with will need to save weekly or monthly 

to reach their goals. 

Answer: Is "No" or "I don't know"

Review

■ Your Money, Your Goals Setting SMART goals tool in the toolkit.

With your client

■ Discuss hopes, wants, and dreams, and turn these into goals. 

Make an action plan for these goals and calculate how much 

the person you’re working with will need to save weekly or 

monthly to reach their goal.
 HOW TO BEGIN 13

Response.

3. Are you at risk of losing 

your housing, car, or 

utilities because you 

cannot make payments?

Answer: Is "Yes"

With your client

■ Call 211 or visit 211.org or a local emergency assistance center. 

For homeowners, call 1-888-995-HOPE (4673).

Answer: Is "I don't know"

Review

■ Your Money, Your Goals Module 5: Getting through the Month

in the toolkit. 

■ Debt log tool in this guide.

4. Do you have reliable 

transportation?

Answer: Is "No" or "I don't know"

With your client

■ Write down all their transportation options and the cost 

of each.

■ Find proper transportation arrangements. Contact the local 

Department of Health and Human Services for additional 

support and information. Or try contacting one of these 

agencies in your community or region:

■ Centers for independent living

■ Aging and disability resource centers

■ Regional, state, or local affiliates of advocacy organizations

■ Job centers

■ Local transit authorities/city or county government

5. Do you have a reliable 

source of income?

Answer: Is "No" or "I don't know"

Review

■ Your Money, Your Goals Module 3: Tracking Income and 

Benefits in the toolkit.

■ Income and benefit tracker tool in this guide.
14 FOCUS ON PEOPLE WITH DISABILITIES

Response.

6. Do you have money 

set aside to cover 

emergencies or 

unexpected expenses?

Answer: Is "No" or "I don't know"

Review

§ Your Money, Your Goals Module 2: Savings in the toolkit.

§ Setting up an ABLE Account tool in this guide.

With your client 

§ Suggest to the person you’re working with that they put aside a 

small amount each week or open an ABLE Account, if possible. 

7. Are you able to cover 

all of your bills, living 

expenses, and meals for 

your household each 

month?

Answer: Is "No" or "I don't know"

Review

§ Your Money, Your Goals Module 5: Getting through the Month

in the toolkit.

§ Your Money, Your Goals Module 3: Increasing income and 

benefits tool in the toolkit.

§ Bill calendar and Spending tracker tools in this guide.

With your client 

§ Call 211 or visit 211.org or a local emergency assistance center.

For homeowners, call 1-888-995-HOPE (4673). 

8. Do you have financial 

resources to pay for 

assistive devices or 

adaptations that you 

need?

Answer: Is "No" or "I don't know"

Review

§ Paying for assistive devices in this guide.

With your client 

§ Inform the person you’re working with that they might be 

eligible for a federally-funded program that provides affordable 

financing options for people with disabilities and their family 

members to purchase assistive technology devices and services.

§ Call the Administration for Community Living at 202-401-4634 

or visit acl.gov/programs/assistive-technology/assistivetechnology or patf.us/who-we-are/ for additional support 

and information about assistive technology alternative 

financing programs. 
 HOW TO BEGIN 15

Response.

9. Do you owe a person, 

business, or the 

government money?

Answer: Is "Yes"or "I don't know"

Review

§ Your Money, Your Goals Module 6: Dealing with Debt in the 

toolkit.

§ Your Money, Your Goals: Requesting your free credit reports 

tool in the toolkit.

With your client

§ Call 1-877-322-8228 or visit annualcreditreport.com to order and 

review their free credit report to see if they have debts.

§ For assistance with debt management, call the National 

Foundation for Credit Counseling toll-free at 1-800-388-2227.

§ For assistance with medical bills, review state and 

federal programs available online at usa.gov/help-withbills#item-36707.

§ For assistance with student loan debt, review the Total and 

Permanent Disability (TPD) discharge of federal student loans 

in Module 6: Dealing with Debt in this guide.

10. Have you been unable 

to get a loan, credit 

card, apartment, car, 

or job due to a bad 

credit record?

Answer: Is "Yes"or "I don't know"

Review

§ Your Money, Your Goals Module 7: Understanding Credit 

Reports and Scores in the toolkit.

With your client

§ Order and review their free credit report.

§ Dispute any errors in credit reports to the credit reporting 

agencies. For assistance, call the US Federal Trade Commission 

at 1-877-382-4357 or visit consumer.ftc.gov.
16 FOCUS ON PEOPLE WITH DISABILITIES

Response.

11. Do you have a checking 

or savings account at a 

bank or credit union? 

Answer: Is "No" or "I don't know"

Review

§ Your Money, Your Goals Module 8: Choosing Financial 

Products and Services in the toolkit.

With your client

§ If the person you’re working with would like to open an 

account, encourage them to shop around and compare 

accounts at several banks and credit unions.

§ Inform the person you’re working with that they have the right 

to get a free copy of their consumer report from the consumer 

reporting company from which the bank or credit union inquired 

about before making its decision to deny their application.

12. Do you think your 

identity has been 

stolen? Have you 

experienced fraud?

Answer: Is "Yes"or "I don't know"

Review

§ Your Money, Your Goals Module 9: Protecting your Money in 

the toolkit.

With your client

§ Inform the person you’re working with that they have 

a right to submit a complaint to the CFPB online at 

consumerfinance.gov/complaint or toll-free via phone 

at 1-855-411-2372 or TTY/TDD: 1-855-729-2372.

13. Do you make the 

decisions about your 

financial resources 

or feel like you have 

control over your 

finances? 

Answer: Is "No" or "I don't know"

Review

§ Your Money, Your Goals Module 9: Protecting your Money in 

the toolkit.

§ Identifying financial abuse and exploitation tool in this guide.
MODULE 1

Setting Goals 

Turn your hopes, wants, and dreams into reality by setting 

and achieving goals.

At a glance in the toolkit

This module can help you create a plan to fulfill your dreams by learning how to set, 

adjust, and reach your short-term and long-term goals. 

 Setting SMART goals

 Putting goals into action

 Planning for life events and large purchases

 Revising your goals

Additionally in this guide

 Paying for assistive devices

Overview 

Everyone has a different idea of the future they want to build. What do you want to 

accomplish in the near future? What do you want for yourself and your family in the 

long term? These ideas of your future are your hopes, wants, and dreams.

But they don’t just happen on their own. Accomplishing your dreams means 

thinking about the money you need to help make them come true.

It’s also important to think about your values, the things that are meaningful to you 

and your family. Your values help shape how you prioritize what you do with your 

time, energy, and even money. If your goals support your values, you’ll be more 

likely to prioritize them, which gives you a greater chance of accomplishing them. 

Module 1: SETTING GOALS 17
Setting goals along the way is a good strategy to help you achieve your dreams.

Some goals may take a few weeks or months to reach, like saving money to buy 

gifts for the holidays or buying a new mattress. These are short-term goals. Others 

may take many months or even years to reach, like paying off a large debt. These 

are long-term goals.

Focus on people with disabilities

The information and tools in this module can help you discuss anticipating and 

planning for large purchases with the people you serve. Large purchases refer 

to items that someone buys once or a few times in life or are large purchases 

because they require more money than most people have left over in a paycheck.

Examples of large purchases may include buying a car, adaptations to vehicles, 

paying medical expenses, renovations to your home, and paying for training or 

post-secondary education. A large purchase can also include paying for assistive 

devices. This guide has a tool designed specifically to help someone plan for 

paying for an assistive device.

Using the tools

YOUR MONEY, YOUR GOALS TOOLKIT

■ Use “Setting SMART goals” to identify goals that will help you plan for and attain 

the things that matter most to you 

■ Use “Putting goals into action” to create a plan to achieve your goals 

■ Use “Planning for life events and large purchases” to help you develop a plan to 

pay for things like a big celebration, a car, or your child’s college tuition 

■ Use the “Revising goals” handout to update or revise goals as needed

FOCUS ON PEOPLE WITH DISABILITIES

■ Use “Paying for assistive devices” to find ways to plan for and cover the costs of 

assistive devices

18 FOCUS ON PEOPLE WITH DISABILITIES
 GETTING STARTED

Paying for assistive devices

This tool will help you identify the assistive devices you 

need or want, explore how to reduce the costs, and how to 

pay for these items.

For many people with disabilities, assistive devices may help the person achieve 

independence so they can reach their other goals. Assistive devices may be large 

purchases, requiring more money than a person can reasonably expect to have after 

covering their basic living expenses.

What to do

§ Identify all the assistive technology that you need and the cost. Research the 

cost of the device or service. If you do not know what you need or what your 

options are, you may be able to get an assistive technology evaluation. Check 

with your medical provider for a referral.

§ Figure out if your health insurance will pay for part or the entire item. If you have 

health insurance, prior authorization may be required. The assistive device or 

service must be medically necessary. You may need a letter of medical necessity 

or prescription from your doctor.

§ Identify potential ways to pay for the items.

§ Identify ways to keep the costs as low as possible. You may qualify for a federally 

funded Alternative Financing Program that provides affordable financing to 

purchase assistive technology. Contact your local Department of Rehabilitation 

or visit the U.S. Department of Health and Human Services, Administration for 

Community Living website acl.gov/programs/assistive-technology/assistivetechnology for additional support or information.

Module 1: SETTING GOALS 19
Paying for assistive devices that you 

need or want

1. Estimate the costs of these expenses.

2. Figure out if your health insurance will pay for part or the entire item.

3. Identify potential ways to pay for the items.

4. Look for ways to keep the costs as low as possible.

Assistive technology.

Specific 

item(s) and 

cost(s).

Insurance 

coverage.

Ways to pay 

for what is not 

covered by 

insurance.

Ways to cut 

expenses/reduce 

the overall cost.

Mobility aids

Examples include: 

wheelchairs, scooters, 

walkers, canes, crutches, 

prosthetic devices, and 

orthotic devices

Cognitive assistance

Examples include: 

computer, software, and 

electrical assistive devices

Daily task assistive 

devices

Examples include: kitchen 

implements, dressing 

aids, and medication 

dispensers with alarms 

that help people 

remember to take their 

medicine on time

Modifications to a home

Examples include: wider 

doors, lower countertops, 

grab bars in bathroom

Module 1: SETTING GOALS 20
21 FOCUS ON PEOPLE WITH DISABILITIES

Assistive technology.

Specific 

item(s) and 

cost(s).

Insurance 

coverage.

Ways to pay for 

what is not covered 

by insurance.

Ways to cut 

expenses/reduce 

the overall cost.

Modifications to a vehicle

Examples include: 

Adjustable foot pedals, 

wide doors, large interior 

door handles, dashboardmounted ignition

Educational assistive 

devices

Examples include: 

automatic page-turners, 

recorders, book holders, 

and adapted pencil grips

Assistive technology for 

people who are deaf or 

hearing impaired 

Examples include: 

hearing aids, closed 

captioning, software

Assistive technology for 

people who are blind or 

visually impaired 

Examples include: voice 

recognition programs, 

screen readers, screen 

enlargement applications

Other
MODULE 2

Saving

Saving on a regular basis can help you make progress 

toward achieving your goals and better handle 

unexpected expenses when they come up. 

At a glance in the toolkit

This module can help you create a savings plan with weekly targets to help you 

reach your goals.

 Savings plan

 Saving and asset limits

 Finding a place for savings

 Saving at tax time

Additionally in this guide

 Setting Up an ABLE Account

Overview 

Savings is money you set aside today to use in the future. It could be for something 

you need in the next few months or even years from now.

People save for many reasons: 

■ Unexpected expenses and emergencies

■ A bill they know will be due every few months, like car insurance

Module 2: SAVING 22
■ Annual expenses like children’s school supplies

■ To pay for their own goals, like a new TV, appliances, assistive devices, a car, 

a home, or retirement

Focus on people with disabilities

Changes in the law and the emergence of new programs provide opportunities for 

people with disabilities to start saving and building assets to cover their basic living 

expenses, all while keeping their benefits.

Programs and resources for building assets that are designed for people with 

disabilities include: Achieving a Better Life Experience (ABLE) Accounts, and the 

Plan to Achieve Self-Support (PASS) for people who are already receiving or have 

applied for Supplemental Security Income (SSI) and want to plan to become selfsufficient and save for a work-related goal. 

Building savings while receiving public benefits

Benefits payments often come with restrictions that limit options for making money 

and saving. If a person decides to make changes in their life and finances, they 

must follow complex rules to keep essential benefits.

The people you serve may avoid saving for fear of losing their public benefits. 

Because savings are an asset, the relationship between asset limits and public 

benefits is addressed within this module. There are savings options for individuals 

with disabilities that do not impact the asset limits associated with SSI, Medicaid, or 

other benefits. 

Here we will review the following options:

■ ABLE Accounts

■ Plan to Achieve Self-Support (PASS)

■ Special needs trusts and pooled trusts

All of these choices are complicated and you may need more information after 

using this introductory summary.

23 FOCUS ON PEOPLE WITH DISABILITIES
ABLE Accounts5

ABLE Accounts are an important new resource for people with disabilities.

With the passage of the Stephen Beck Jr., Achieving a Better Life Experience Act 

of 2014, ABLE Accounts have become a new way people with disabilities can save.

Savings in ABLE Accounts does not affect eligibility for:

■ Supplemental Security Income (SSI).

6 

■ Medicaid and other federal means-tested benefits.7

ABLE Accounts are set up by or for people with disabilities. With an ABLE Account, 

the “designated beneficiary” is the account owner. Anyone can contribute to an 

individual’s ABLE Account. The maximum total annual contribution to an ABLE 

Account for a single tax year is subject to the IRS gift tax exclusions, which is 

$15,000 for 2018. Contributions are not federally tax deductible. Some states may 

allow for state income tax deductions for contributions made to an ABLE Account. 

However, distributions to the designated beneficiary generally aren’t taxed as long 

as the funds are used for qualified disability expenses.

ABLE Account programs are established and maintained by individual states.

An eligible person can open an account in their own state, if one exists, or in any 

state program that accepts out of state residents. The maximum allowable value 

of an ABLE Account in a given state is based on the 529 plan limits established 

by that state. A 529 is an educational savings plan designed to help families’ setaside money for future college costs. Many states have set this limit at more than 

$300,000 per plan. 

5 Information about ABLE Accounts may be found in IRS Publication 907, Tax Highlights for Persons 

with Disabilities, and at irs.gov/government-entities/federal-state-local-governments/taxbenefit-for-disability-irc-section-529a.

6 Only money in an ABLE Account exceeding $100,000, plus any distributions toward qualified 

housing expenses and non-qualified disability expenses retained beyond the month of 

distribution, may be counted as a resource for SSI. If money in an ABLE Account that exceeds 

$100,000 causes the person’s countable resources to exceed the $2,000 SSI resource limit, 

SSI payments may be suspended but not terminated. Benefits will resume when the person’s 

countable resources go below $2,000.

7 Funds in an ABLE Account will be disregarded for purposes of determining eligibility to receive, or 

the amount of, Medicaid and other federal benefits. Social Security Disability Insurance does not 

have asset limits and is thus not affected by an ABLE Account. See, Tax Increase Prevention Act of 

2014, Pub. L. No. 113-295, 128 Stat. 4010, 4063 (codified at 26 U.S.C. 529A Note).

Module 2: SAVING 24
ABLE savings funds can be spent on qualified disability expenses. These are any 

expenses related to the designated beneficiary as a result of living with disabilities. 

These may include:

§ Education

§ Housing

§ Transportation

§ Employment training and support

§ Assistive technology

§ Personal support services

§ Health care expenses

§ Financial management and administrative services and other expenses that help 

to improve health, independence, or quality of life

When savings from an ABLE Account are used for something that is not a qualified 

disability expense, a portion of the withdrawal that is attributable to earnings will 

be treated as income for tax purposes.8 It will be taxed at the person’s tax rate, and 

will be subject to a 10% federal tax penalty as well as applicable state taxes.

The designated beneficiary is the eligible individual who established and owns the 

ABLE Account. To be eligible for an ABLE Account, a person must be: 

§ Eligible for Supplemental Security Income (SSI) based on disability or blindness 

that began before age 26;

§ Entitled to disability insurance benefits (DIB), childhood disability benefits 

(CDB), or disabled widow’s or widower’s benefits (DWB) based on disability or 

blindness that began before age 26; or

§ Someone who has certified, or whose parent or guardian has certified, that the 

person has a medically determinable impairment meeting certain statutorily 

specified criteria, or is blind; and, the disability or blindness occurred before 

age 26

For more information on ABLE Accounts, visit the Social Security Administration 

website at secure.ssa.gov/poms.nsf/lnx/0501130740.

The standards are different for blind and visually impaired people, ssa.gov/

planners/disability/dqualify8.html.

8 See IRS Publication 907, Tax Highlights for Persons with Disabilities, regarding how to determine 

the taxable portion of a distribution.

25 FOCUS ON PEOPLE WITH DISABILITIES
For a list of ABLE Accounts offered by state, visit the ABLE National Resource 

Center website at ablenrc.org.

9

Plan to Achieve Self-Support (PASS)

A PASS is for people who are already receiving SSI or would be eligible by having 

a PASS, and want to save for a work-related goal. The objective of the PASS is to 

help people with disabilities find employment that reduces or eliminates SSI or 

SSDI benefits.10 Ordinarily, monthly benefits would be reduced if the person were 

to increase their income. However, with a PASS, a person can set aside money 

for work goals that could involve starting a business, going to school, or getting 

training for a job.

11 Other potentially eligible uses for PASS funds include:

§ Transportation to and from work

§ Tuition, books, fees, and supplies needed for school or training

§ Child care

§ Attendant care

§ Employment services, such as job coaching and resume writing

§ Assistive technology used for employment-related purposes

§ Supplies to start a business

§ Equipment and tools to do the job 

§ Uniforms, special clothing, and safety equipment12

The person’s work goals must include earning income that will partially or 

completely reduce their SSI benefits. That’s the “self-support” part. They can also 

be currently employed and use a PASS to reduce or end their dependence on 

disability benefits. If the plan is for self-employment, meaning starting a business, 

the person must create a detailed business plan as part of PASS. The vocational 

goals must be “reasonable,” given any disability-related limitations. This will be 

determined during the application process. For additional information, visit 

ssa.gov/pubs/EN-05-11017.pdf.

9 This guide includes links or references to third-party resources or content that consumers may 

find helpful. The Bureau does not control or guarantee the accuracy of this outside information. 

The inclusion of links or references to third-party sites does not necessarily reflect the Bureau’s 

endorsement of the third-party, the views expressed on the outside site, or products or services 

offered on the outside site. The Bureau has not vetted these third-parties, their content, or any 

products or services they may offer. There may be other possible entities or resources that are 

not listed that may also serve your needs.

10 See ssa.gov/disabilityresearch/wi/pass.htm.

11 See ssa.gov/ny/pass-definition.htm.

12 See ssa.gov/pubs/EN-05-11017.pdf.

Module 2: SAVING 26
To begin, the person will need to fill out a PASS application form and 

submit it to the Social Security Administration (SSA). Help in completing the form 

can come from a vocational counselor, case manager, or the PASS Cadre, 

which is a group of PASS specialists. PASS experts can be found at 

ssa.gov/disabilityresearch/wi/passcadre.htm.

Other disability agencies, such as centers for independent living can offer help to 

fill out the application forms and develop PASS plans. A full list of requirements and 

a description of the application process is at Plan to Achieve Self-Support (PASS) 

ssa.gov/disabilityresearch/wi/pass.htm.

People who are blind or visually impaired may want to use this resource 

ssa.gov/pubs/EN-05-10052.pdf.

Using the tools

YOUR MONEY, YOUR GOALS TOOLKIT

■ Use “Savings plan” to build a weekly savings target that will help you accomplish 

your goals 

■ Use “Saving and asset limits” to get a clear picture of how much you can save 

while still maintaining your public benefits

■ Use “Find a place for savings” to pick a place that’s right for you to keep 

your savings 

■ Review the “Saving at tax time” handout for tips on how to prioritize saving 

when you get your tax refund 

FOCUS ON PEOPLE WITH DISABILITIES

■ Use “Setting up an ABLE Account” to decide if this is a good place to save your 

money for future expenses

27 FOCUS ON PEOPLE WITH DISABILITIES
 GETTING STARTED

Setting up an ABLE Account

This tool helps you understand what an ABLE Account is 

and some of the things you may want to consider if you 

want to open one.

This tool can be used to help people with disabilities understand what an ABLE 

Account is and some of the things they may want to consider if they want to open one. 

An ABLE Account is a new way for people with disabilities to save. For many people 

with disabilities, saving may not seem to be an option that’s available to them. This 

is because when people receive public benefits, some benefit programs may have 

“asset limits.” Asset limits cap the amount of savings and other resources you can have 

and still maintain eligibility for certain public benefits. When a program has asset 

limits, savings may impact a person’s eligibility for that type of assistance. There are 

savings options, however, that do not count against these asset limits. 

What to do

■ Read through the eligibility requirements to determine if an ABLE Account is an 

option for you.

■ Compare features of different ABLE Accounts to choose the one that works 

for you.

■ Write down questions you have and next steps you can take to set up an 

ABLE Account.

Module 2: SAVING 28
Setting up an ABLE Account.can help 

you save for the future

1. Ask these questions to determine if an ABLE 

Account is an option for you.

2. Fill in the worksheet on the next page to 

compare features of different plans if you 

determine you would like to open an 

ABLE Account.

 Do you meet the eligibility 

requirements?

§ You have a significant disability with the 

age of onset of the disability that began 

before 26 years of age, and

§ You are receiving benefits from SSI and/or 

SSDI, or you are eligible to file a disability 

certification with a qualified ABLE 

program or,

§ You meet the Social Security’s definition 

and criteria regarding significant functional 

limitations and receive a letter of 

certification from a licensed physician.

 Do your goals match the qualified 

disability expenses allowed that 

can be paid from an ABLE Account 

without incurring taxes? 

Qualified disability expenses may include:

§ Education

§ Housing

§ Transportation

§ Employment training and support

§ Assistive technology

§ Personal support services

§ Health care expenses

§ Financial management and administrative 

services and other expenses that help to 

improve health, independence, or quality 

of life.

 Do you have the minimum 

contribution required to open an 

account?

This varies based on the requirements 

of each state program but is generally 

between $25 and $50.

 Can you continue to make 

contributions to the ABLE 

Account once it is opened?

Regular (monthly) deposits may not be 

required, but regular contributions to 

savings can help you grow your account 

faster. Remember that family and friends 

can also make contributions to your ABLE 

Account.

Be sure you find out:

§ How your money will be invested through an 

ABLE Account

§ Fees you may have to pay to open and 

maintain your account 

§ Whether there are advantages available to 

in-state residents

§ Penalties that may be charged

§ Other features the account may provide, such 

as checks or a debit card.

For a list of ABLE Accounts offered by state, visit 

the ABLE National Resource Center at 

ablenrc.org.

 

Module 2: SAVING 29
Program feature. ABLE program 1. ABLE program 2.

1. Where is this program?

2. Who is the program 

administrator?

3. Does this program 

provide extra benefits to 

in-state residents? If so, 

what are they?

4. Are there state tax benefits 

for contributions made into 

the account? If so, what 

are they?

5. Does this program 

offer various saving and 

investing options? If so, 

what are they?

6. Are there fees for keeping 

the account open? What 

are they?

7. Are there limits on 

disbursements from 

the account? If so, what 

are they?

8. Does this program offer a 

debit card? If so, what is the 

fee to use it? 

9. Does the program offer 

check writing?

10. Are there other features that 

are important to you?

30 FOCUS ON PEOPLE WITH DISABILITIES
MODULE 3

Tracking Income 

and Benefits 

You have to know what’s coming in before you can plan 

for what’s being spent. Tracking the money and benefits 

you receive is the first step in creating a budget that 

works for you.

At a glance in the toolkit

This module can help you track the income you’re earning and any public benefits 

you’re receiving to better budget your money. It also helps you understand things 

like deductions and garnishment, which affect how much money you bring home. 

 Income and benefits tracker

 Choosing how to get paid

 Increasing income and benefits

Additionally in this guide

 SSI estimator

 Workforce Investment Opportunity Act (WIOA)

 The role of a representative payee

Overview 

Income is the money you receive from part-time or full-time work, self-employment, 

and investments. You use income to pay for the things you need and want or can 

save it to spend toward one of your goals. Money can also come from things like tax 

refunds, gifts, and inheritances, which can also be spent or saved like income. 

MODULE 3: TRACKING INCOME AND BENEFITS 31
Public benefits are payments you may receive from the government to help pay for 

necessities. Most benefit payments have restrictions about how they can be spent. 

So while these payments help increase your spending power, they aren’t as flexible 

as income earned from a job.

Focus on people with disabilities

For many people with disabilities, tracking income may mean tracking their 

benefits payments. Because earnings can offset and reduce benefits, some 

people with disabilities don’t believe they can work without making themselves 

worse off financially.

People with disabilities, like people without disabilities, have the right to work free 

from employment discrimination.

13 And, while work income may mean a reduction 

in benefits over time, it does not necessarily mean benefits will be stopped 

immediately. When a person with a disability wants to work, then it is essential to 

provide information about income levels that: 

■ Can make benefits decrease

■ Can make them lose eligibility for benefits

Using the tools

YOUR MONEY, YOUR GOALS TOOLKIT

■ Complete the "Income and benefits tracker" to see how much money you’re 

bringing home each month 

■ Review "Choosing how to get paid" to see the pros and cons of different 

payment methods and pick what works best for you 

■ Use "Increasing income and benefits" to think about ways you can boost the 

amount of money you’re making

FOCUS ON PEOPLE WITH DISABILITIES

■ Use “SSI estimator” to find out how your much money you would have each 

month if you work while receiving Social Security 

■ Use “Workforce Investment Opportunity Act (WIOA)” to find out about training 

for jobs and programs that help people who want to work

■ Use “The role of a representative payee” to understand how someone can 

help you to manage SSI benefits and find out more about what they should and 

should not do

13 For information on workplace protections for people with disabilities, see eeoc.gov/.

32 FOCUS ON PEOPLE WITH DISABILITIES
 GETTING STARTED

Supplemental Security Income (SSI) 

estimator

The Federal Supplemental Security Income (SSI) monthly benefit is $771 per month. 

Some states pay more, depending on where you live. When you work, it changes the 

size of your monthly check—but no matter what, when you work you will have more 

money in your pocket than if you don’t work at all.

Someone may think that getting paid at a job will stop their SSI check, but that’s not 

necessarily true. In fact, the more you work, the more you make overall, even on SSI. 

There’s a little math needed to explain what working does to the amount you receive 

from SSI. First, when you earn money through a job, you keep the first $85 of your pay 

without any impact on your SSI. For every dollar you earn after that, SSI drops by 

50 cents.

If you are working, or you are considering work, you can estimate how a change in 

income from work would affect your SSI. The SSI estimator will help you to calculate 

the total amount you will take home each month.

What to do

■ Gather documents showing your monthly SSI amount and any paystubs or 

documents showing your monthly income from work.

■ If you are not currently working, estimate the amount you would earn from work 

each month.

■ Enter these amounts in the SSI estimator to calculate the total amount you 

would take home each month.

MODULE 3: TRACKING INCOME AND BENEFITS 33
Use this SSI estimator to see how 

work affects your benefits

1. Read through the example calculations.

2. Fill in your own information using current or expected amounts.

Find out how work income affects your SSI. Example. Your information.

A. Amount you earn from work a month. $585.

B. You keep the first $85 of your pay.

The first $85 you earn does not affect your SSI; the 

remainder does.

minus $85.

C. Amount of income that affects your SSI

 (subtract row B from row A).

equals $500.

D. Divide this amount in half. divide by 2. divide by 2.

E. Amount that will be taken from your SSI. 

 (divide row C by 2)

equals $250.

Calculate your SSI amount if you work. Example. Your information.

F. Amount you now get from SSI every month. $771

G. Subtract amount taken from your SSI 

 (amount from row E)

minus $250.

H. SSI amount if you work.(subtract row G from row F) equals $521.

Calculate your total income. Example. Your information.

I. Amount you earn from work a month. $585.

J. SSI amount if you work (amount from row H). plus $521.

K. Total amount you will take home per month 

 (add row I to row J)..

equals$1,106.

MODULE 3: TRACKING INCOME AND BENEFITS 34
Workforce Investment Opportunity 

Act (WIOA)

The Workforce Investment Opportunity Act 

(WIOA) provides new opportunities for people 

with disabilities because key provisions of the 

Act strengthen services to youth and adults with 

disabilities.

14 Specifically, WIOA requires the 

following:

§ Increased access to high-quality workforce 

services and preparation for competitive 

integrated employment for people with 

disabilities.

§ American Job Centers (Career One Stops) 

will provide physical and programmatic 

accessibility to employment and training 

services for people with disabilities.

§ Young people with disabilities will receive 

extensive pre-employment transition services 

so they can successfully obtain competitive 

integrated employment.

§ State vocational rehabilitation agencies will 

set aside at least 15 percent of their funding 

to provide transition services to young 

people with disabilities.

§ Vocational Rehabilitation state grant 

programs will engage employers to improve 

participant employment outcomes.

To learn more about and access the 

benefits of WIOA, get in touch with the 

American Job Center Network online at

careeronestop.org or in person using 

14 See United States Department of Labor, Employment 

and Training, WIOA Overview, doleta.gov/WIOA/

Overview.cfm. For additional information on 

workplace protections for people with disabilities, see 

US Equal Opportunity Employment Commission, 

eeoc.gov

the locator at careeronestop.org/localhelp/

americanjobcenters/find-american-job-centers.

aspx?&frd=true.

It pays to work. Even with a reduction in benefits 

due to income earned, people most often have 

more money. To see this, use SSI estimator tool 

provided in this guide.

The Social Security Administration has many 

programs designed to help people work 

in a way that is supported and may include 

continuation of benefits. For more information 

on these programs, visit the Social Security 

Administration Redbook at ssa.gov/redbook/

index.html.

People can also use the disability benefits 

planner provided by the Social Security 

Administration at ssa.gov/planners/disability.

When people do receive Social Security 

Disability Income (SSDI) or Supplemental 

Security Income (SSI), they may have to use a 

representative payee. A representative payee 

is someone the Social Security Administration 

approves or appoints to manage the SSDI 

or SSI an individual receives. To learn more 

about the role of representative payee, review

the next section in this guide or visit 

ssa.gov/payee/bene.htm. This can give them 

information to ensure the representative payee 

is working in their best interest.

MODULE 3: TRACKING INCOME AND BENEFITS 35
The role of a representative payee

What is a representative payee15?

A representative payee is a person or an 

organization. The Social Security Administration 

appoints a payee to receive the Social 

Security or SSI benefits for anyone who can’t 

manage or direct the management of their 

benefits. A trusted family member or friend 

can be nominated to be a representative 

payee, but is subject to the Social Security 

Administration’s approval. 

A payee’s main duties are to use the benefits 

to pay for the current and future needs of the 

beneficiary. Payee duties also include properly 

saving any benefits not needed to meet current 

needs. A payee must keep records of: 

§ The amount of Social Security or SSI 

benefits received

§ Expenses for food and housing

§ Expenses for clothing, medical, dental, 

personal items, recreational, and other 

miscellaneous expenses

§ Any savings as well as interest earned on 

those savings

Being an authorized representative, serving as 

an agent under a power of attorney, or having 

a joint bank account with the beneficiary does 

not give a person legal authority to manage the 

Social Security and/or SSI benefits for a person

15 See A Guide for Representative Payees, ssa.gov/pubs/

EN-05-10076.pdf.

 with disabilities.16 To become a representative 

payee a person must apply and be appointed 

by the Social Security Administration.

Additional information is available on the SSA’s 

website ssa.gov/payee/faqrep.htm.

What a representative payee can and 

should do:

§ Determine the beneficiary’s needs and use 

his or her payments to meet those needs.

§ Save any money left after meeting the 

beneficiary’s current needs in an interest 

bearing account or savings bonds for the 

beneficiary’s future needs.

§ Report any changes or events, which could 

affect the beneficiary’s eligibility for benefits 

or payment.

§ Keep records of all payments received and 

how they were spent and saved.

§ Provide benefits information to social service 

agencies or medical facilities that serve the 

beneficiary.

§ Help the beneficiary get medical treatment 

when needed.

§ Complete written reports accounting for the 

representative payee’s use of funds. 

16 People often make a power of attorney to name 

someone else to manage their money if they become 

sick or injured. For Social Security purposes, a power 

of attorney isn’t an acceptable way to manage a 

person’s monthly SSDI or SSI benefits. Social Security 

recognizes only the use of a designated representative 

payee for handling the beneficiary’s SSDI and SSI 

funds. See A Guide for Representative Payees, ssa.gov/

pubs/EN-05-10076.pdf.

MODULE 3: TRACKING INCOME AND BENEFITS 36
§ Reimburse him or herself for reasonable, 

actual out-of-pocket expenses paid on behalf 

of the beneficiary. A record must be kept 

of these expenses. For example, the Social 

Security Administration considers the cost 

of transporting the beneficiary to a doctor’s 

appointment (such as cab fare, mileage, and 

tolls), postage to pay the beneficiary’s bills, 

and fees for money orders as out-of-pocket 

expenses. The amount of reimbursement 

must not be more than the expense incurred 

for the beneficiary.

What a representative payee cannot 

and should not do:

§ Sign legal documents, other than Social 

Security documents, for a beneficiary.

§ Manage earned income, pensions, or any 

income from sources other than Social 

Security or SSI.

§ Use a beneficiary’s money for the payee’s 

personal expenses, or spend funds in a way 

that would leave the beneficiary without 

necessary items or services (housing, food, 

medical care).

§ Put a beneficiary’s Social Security or SSI 

funds into an account owned by the payee or 

another person.

17

§ Use a child’s “dedicated account” funds for 

basic living expenses. Dedicated account 

funds can be used only for specific purposes: 

see A Guide for Representative Payees 

at ssa.gov/pubs/10076.html for more 

information. (This applies to disabled and 

blind SSI beneficiaries under age 18.)

§ Keep or manage Social Security benefits 

once he or she is no longer the payee.

17 A common checking account for all family members 

living in the same household who receive benefits may 

show a parent or spouse as the owner of the account.

Children’s savings, however, must be in separate 

savings accounts for each child, showing the child as 

the account owner.

§ Charge the beneficiary for services unless 

authorized by SSA to do so

For additional information, contact the Social 

Security information at 1-800-772-1213 

between 7 a.m. and 7 p.m. ET on business 

days, or contact your local Social Security 

office between 9 a.m. and 4 p.m. local time on 

business days.

People who are deaf or hearing impaired 

may call a toll-free “TTY” number, 

1-800-325-0778, between 7 a.m. and 

7 p.m. ET on business days.

You can find answers to many questions by 

visiting the Social Security Administration 

website at socialsecurity.gov/payee or see 

CFPB’s Managing Someone Else’s Money guide 

for representative payees at consumerfinance.

gov/consumer-tools/managing-someone-elsesmoney/fiduciary-guides/.

37 FOCUS ON PEOPLE WITH DISABILITIES
MODULE 4

Paying Bills

Learn to organize, track, and prioritize your bills 

and expenses. 

At a glance in the toolkit

This module can help you better understand where your money is going and learn 

how to reduce expenses and pay bills more efficiently. 

 Spending tracker 

 Bill calendar

 Choosing how to pay bills

 Cutting expenses

 Prioritizing bills

Overview 

“To stay financially healthy, you should spend less than you earn.” This simple rule 

may work for many people, but it isn’t very helpful if you can’t afford to pay all of 

your bills and living expenses. 

For some, balancing personal priorities and family expectations can sometimes 

be a challenge. And if your work is seasonal or irregular, you may be able to cover 

everything when you’re working, but struggle to cover expenses in the months or 

weeks when you’re not.

MODULE 4: PAYING BILLS 38
Focus on people with disabilities

Depending on circumstances, some people with disabilities may have had limited 

choices in how to spend their money. This could be because of age—if the person is 

a minor, a parent or guardian has made their spending decisions. 

In some circumstances, even adults with disabilities may have had very limited 

opportunities to make decisions about the use of their money. Use of income may 

be, or have been, controlled by a trustee, family member, or representative payee. 

This lack of opportunity for involvement may often come from a desire to protect a 

person with disabilities or, in the case of a trustee, from the rules of the trust itself. 

In some cases, the family member or representative payee may believe they know 

what is in the person’s best interest or disagree with how the individual wants to 

spend their money.

Values about money may come from life experiences, culture, family, peers, and 

media. An item that may seem like a “want” or frivolous expenditure to you may be 

an important expression of self to someone else. Rather than judge how people 

spend, it’s important to give them the tools to make decisions and understand the 

possible results of those decisions.

People with disabilities, like all people, have the right to make choices with how 

their money is used, and they have the right to take risks. Everyone takes risks 

with their money. Lessons learned from taking risks and making mistakes can be 

meaningful. Even when a person has assistance with paying their bills and other 

expenses, they should be consulted and involved in the process.

Using the tools

YOUR MONEY, YOUR GOALS TOOLKIT

■ Use the "Spending tracker" to get a clear picture of where you’re using your 

money and financial resources 

■ Use the "Bill calendar" to visually organize all of your bills in a monthly calendar

■ Use "Choosing how to pay bills" to learn about all of the payment options you 

have for paying your bills 

■ Use "Cutting expenses" to brainstorm ideas for cutting expenses from 

your budget 

■ Use "Prioritizing bills and spending" to make decisions about which bills to pay 

when you can’t make ends meet 

39 FOCUS ON PEOPLE WITH DISABILITIES
MODULE 5

Getting through 

the Month 

Tracking when your money comes in and goes out can 

help you understand if you’ll have enough each week 

or month.

At a glance in the toolkit

This module helps you understand your cash flow by looking at how money flows 

into and out of your household. It also provides suggestions for how to improve 

your cash flow if you’re having trouble making ends meet. 

 Creating a cash flow budget

 Improving cash flow

 Adjusting your cash flow

Additionally in this guide

 Monthly budget

Overview 

When it comes to money, timing matters. If the timing of your income doesn’t 

match the timing of your expenses, you may come up short without planning 

in advance. That’s why monthly budgets sometimes don’t work out from week 

to week.

§.

MODULE 5: GETTING THROUGH THE MONTH 40
Focus on people with disabilities

Budgeting can help a person with disabilities gain and maintain control over their 

money. Module 5 provides information and tools to help people make plans to get 

through the month—pay for all of their living expenses, bills, financial obligations, 

and other uses of income or financial resources, including saving.

The toolkit uses a cash flow budget approach that looks at the timing of income 

and expenses from week to week. People sometimes experience shortfalls 

because of when income or financial resources are received and when their bills 

are due. These week-by-week shortfalls can be missed in a monthly static budget.

For a person living on a fixed-income, a monthly budget based on a cash flow 

approach can help them manage their income, benefits, and plan for 

their expenses.

Using the tools

YOUR MONEY, YOUR GOALS TOOLKIT

■ Complete "Creating a cash flow budget" to see how your income and expenses 

line up

■ Use "Improving cash flow" to learn about strategies and habits you can change 

to help your cash flow 

■ Use “Adjusting your cash flow" to find expenses that you can move or reduce to 

make sure your weekly cash flow is positive 

FOCUS ON PEOPLE WITH DISABILITIES

■ Use “Monthly budget” to track your monthly income and expenses and stay on 

target with your plans and goals

41 FOCUS ON PEOPLE WITH DISABILITIES
 GETTING STARTED

Monthly budget

This tool is all about tracking your income and expenses to help 

you have more control over your money.

Before you can build a budget, you will need to track your income, resources, and 

expenses for at least one month. Use the "Income and benefits tracker” tool in Module 3 

and the "Spending tracker” tool in Module 4 of the toolkit to help you get started. You’ll 

need the information from both of these tools to create a budget.

What to do 

■ List your income and expenses for the month.

■ Use your responses from the Income and benefit tracker tool and Spending 

tracker tool in this guide to identify your monthly income and expenses. 

■ Subtract your total spending from your total income to build your budget.

A step further 

If it looks your expenses are more than your income and benefits, you can brainstorm 

some strategies for getting back on track.

MODULE 5: GETTING THROUGH THE MONTH 42
MODULE 5: GETTING THROUGH THE MONTH 43

1. List your income

2. List your expenses

3. Subtract your total spending from total 

income to build your budget

Use this Monthly budget to see how 

much you make and spend

Month of 

Type of spending. Amount spent.

Housing 

(rent or mortgage).

Utilities (gas, water, 

electricity, sewage).

Groceries 

+ other supplies.

Health expenses.

Transportation.

Education 

+ childcare.

Cell phone.

Internet + cable.

Service animals 

+ Pets.

Debt payments.

Other spending.

Total spending this 

month.

Type of income. Amount gained.

Job.

Government 

program.

Disability benefits.

Financial support

Other income.

Total income 

this month.

ility insurance Financial support

tions & gifts

I can

e...

Habits I can

change...

 can avoid... Utilities I can reduce...

g out Entertainment

payment Housing &

utilities

Financial support



Disability insurance Financial support

Donations & gifts

Plans I can

change...

Habits I can

change...

If I don’t pay

for obligations...

If I don’t pay for

housing and utilities...

Fees I can avoid... Utilities I can reduce...

Eating out Entertainment

Debt payment Housing &

utilities

Financial support



Ask a question

Need help getting a

bank or debt collector

to respond

Need help with 

benefits

Need help with

health care bills

Need help paying

utility bills

Need help deal

debt and foreclo

Take a breath Be sure

Government Primary job

program

Disability insura

Things I can

charge for...

Programs I can

consider...

Plans I can

change...

If I don’t pay for

housing and uti

If I don’t pay for

job-related needs...

If I don’t pay

for insurance...

Fees I can avoidSkills I have... Things I can sell...

Groceries &

supplies

Eating out

Transport

Need help finding

a job

 

Ask a question

Need help getting a

bank or debt collector

to respond

Need help with 

benefits

Need help with

health care bills

Need help paying

utility bills

Need help dealing w

debt and foreclosur

Take a breath Be sure

Government Primary job

program

Disability insurance

Things I can

charge for...

Programs I can

consider...

Plans I can

change...

If I don’t pay for

housing and utilities

If I don’t pay for

job-related needs...

If I don’t pay

for insurance...

Fees I can avoid... Skills I have... Things I can sell...

Groceries &

supplies

Eating out

Transport

Need help finding

a job

 

Build your budget

Total income this month Total spending this month

Primary job Government

program

Disability insurance Financial support

Childcare &

education

Donations & gifts

Things I can

charge for...

Programs I can

consider...

Plans I can

change...

Habits I can

change...

Groceries &

supplies

Eating out Entertainment

Personal care

Transport

Pets

Healthcare Debt payment Housing &

utilities

MISC. MISC.

Financial support



Primary job Government

program

Disability insurance 

Childcare &

education

Donations & gifts

Groceries &

supplies

Eating out 

Personal care

Transport

Pets

Healthcare Debt payment 

MISC. MISC.

Childcare &

education

Donations & gifts

Groceries &

supplies

Eating out Entertainment

Personal care

Transport

Pets

Healthcare Debt payment Housing &

utilities

MISC. MISC.

Financial support



Need help getting a

bank or debt collector

to respond

Need help with Need help with...

benefits

Need help with

health care bills

Primary job Government

program

Disability insurance Financial support

Childcare &

education

Donations & gifts

Things I can

charge for...

Programs I can

consider...

Plans I can

change...

Habits I can

change...

If I don’t pay

for obligations...

If I don’t pay for

housing and utilities...

If I don’t pay for

job-related needs...

If I don’t pay

for insurance...

Things I can sell... Skills I have... Fees I can avoid... Utilities I can reduce...

Groceries &

supplies

Eating out Entertainment

Personal care

Transport

Pets

Healthcare Debt payment Housing &

utilities

MISC. MISC.

Financial support



 

Primary job Government

program

Disability insurance Financial support

Childcare &

education

Donations & gifts

Things I can

charge for...

Programs I can

consider...

Plans I can

change...

Habits I can

change...

Groceries &

supplies

Eating out Entertainment

Personal care

Transport

Pets

Healthcare Debt payment Housing &

utilities

MISC. MISC.

Financial support



Primary job Government

program

Disability insurance Financial support

Childcare &

education

Donations & gifts

Things I can

charge for...

Programs I can

consider...

Plans I can

change...

Habits I can

change...

If I don’t pay

for obligations...

If I don’t pay for

housing and utilities...

If I don’t pay for

job-related needs...

If I don’t pay

for insurance...

Things I can sell... Skills I have... Fees I can avoid... Utilities I can reduce...

Groceries &

supplies

Eating out Entertainment

Personal care

Transport

Pets

Healthcare Debt payment Housing &

utilities

MISC. MISC.

Financial support



bank or debt collector

to respond

benefitshealth care bills

Primary job Government

program

Disability insurance Financial support

Childcare &

education

Donations & gifts

Things I can

charge for...

Programs I can

consider...

Plans I can

change...

Habits I can

change...

If I don’t pay

for obligations...

If I don’t pay for

housing and utilities...

If I don’t pay for

job-related needs...

If I don’t pay

for insurance...

Things I can sell... Skills I have... Fees I can avoid... Utilities I can reduce...

Groceries &

supplies

Eating out Entertainment

Personal care

Transport

Pets

Healthcare Debt payment Housing &

utilities

MISC. MISC.

Financial support



 

Primary job Government

program

Disability insurance Financial support

Childcare &

education

Donations & gifts

Things I can

charge for...

Programs I can

consider...

Plans I can

change...

Habits I can

change...

Things I can sell... Skills I have... Fees I can avoid... Utilities I can reduce...

Groceries &

supplies

Eating out Entertainment

Personal care

Transport

Pets

Healthcare Debt payment Housing &

utilities

MISC. MISC.

Financial support



If your income is more than your 

expenses, you have money left to 

save or spend.

If your expenses are more than your 

income, look at your budget to find 

expenses to cut.
MODULE 6

Dealing with Debt 

Learn about ways to tackle your debt to help you feel 

less overwhelmed. The more you know about how debt 

works, the easier it will be to make choices that are right 

for you.

At a glance in the toolkit

This module will help you get a picture of what you owe, get a handle on your 

payments, and cut down on stress from growing debt. 

 Debt log

 Debt-to-income calculator

 Debt action plan

 Comparing auto loans

 Repaying student loans

 When debt collectors call

 Avoiding medical debt

Additionally in this guide

 Total and Permanent Disability (TPD) Discharge

Overview 

What is debt? Debt is money you owe to another person or business. Whether you 

took out a loan, used a credit card, or got behind on a bill payment, that’s debt. 

Debt can be hard to face when it feels like a barrier to your goals, but it’s important 

to remember that there are resources you can use to help you take control of your 

MODULE 6: DEALING WITH DEBT 44
debt. Even small steps toward paying down debt can make a big difference in 

making it feel more manageable.

Focus on people with disabilities

Understanding debt, how to manage it, and how to reduce or get rid of it are 

important components of financial empowerment. Debt, however, is a current 

reality for many people with and without disabilities. People with disabilities may 

have debt related to paying for medical bills and assistive technology; buying, 

rehabilitating, adapting, or repairing a home; buying a car or truck or adapting it; 

starting a business; getting themselves or their children education and training; 

and/or emergency expenses.

Using the tools

YOUR MONEY, YOUR GOALS TOOLKIT

■ Complete the "Debt log” to gain an understanding of all the debt you owe 

■ Use the “Debt-to-income calculator” to discover how much stress debt is 

putting on your budget 

■ Fill out the "Debt action plan” to find a strategy for paying down your debt that 

works for you 

■ Bring "Comparing auto loans” with you when you shop for an auto loan to help 

find the best deal 

■ Use "Repaying student loans” to understand what repayment plans are available 

to you

■ Review "When debt collectors call" if you’re having a problem with debt 

collection to prepare yourself the next time a debt collector contacts you 

■ Review the "Avoiding medical debt" handout if you’re dealing with high medical 

bills to learn about ways to handle medical debt

FOCUS ON PEOPLE WITH DISABILITIES

■ Use the “Total and Permanent Disability (TPD) Discharge” handout to 

learn about relief from certain loan payments if you have a total and 

permanent disability

45 FOCUS ON PEOPLE WITH DISABILITIES
Total and Permanent Disability 

(TPD) Discharge.

Based on a person’s total and 

permanent disability, a TPD 

discharge18 relieves them from 

having to:

§ Repay a William D. Ford Federal Direct Loan 

(Direct Loan) Program loan

§ Repay a Federal Family Education Loan 

(FFEL) Program loan

§ Repay a Federal Perkins Loan (Perkins Loan) 

Program loan

§ Complete a TEACH Grant 

service obligation. een of list

Before the federal student loans or TEACH 

Grant service obligation can be discharged, 

a person with a disability must provide 

information to the Department of Education 

to show that they’re totally and permanently 

disabled.

A person can show that they’re totally and 

permanently disabled in one of the following 

three ways:

1. Veterans can submit documentation from 

the U.S. Department of Veterans Affairs (VA) 

showing that the VA has determined that 

they are unemployable due to a serviceconnected disability.

2. People receiving Social Security Disability 

Insurance (SSDI) or Supplemental Security 

Income (SSI) benefits, can submit a Social 

Security Administration (SSA) notice of award 

for SSDI or SSI benefits stating that their next 

scheduled disability review will be within five 

to seven years from the date of their most 

recent SSA disability determination.

3. People with disabilities can submit 

certification from a physician that they 

are totally and permanently disabled. The 

physician must certify that they are unable to 

engage in any substantial gainful activity by 

reason of a medically determinable physical 

or mental impairment that:

§ Can be expected to result in death.

§ Has lasted for a continuous period of not 

less than 60 months.

§ Can be expected to last for a continuous 

period of not less than 60 months. end list.end

People with disabilities must continue to pay 

their student loans while awaiting approval of 

their application.

If you have income of $600 or more reported 

to the Internal Revenue Service (IRS), you may 

have an income tax liability. The Department 

of Education reports the amount of the loan 

forgiven to the IRS. The IRS sees this unpaid 

debt as income.

To apply, contact the Department of Education 

at 1-888-303-7818 from 8:00 a.m. to 8:00 p.m.

ET or send an email to DisabilityInformation@

Nelnet.net.

18 You can find answers to many questions by visiting 

the Social Security Administration website at 

socialsecurity.gov/payee or see CFPB’s Managing 

Someone Else’s Money guide for representative 

payees at consumerfinance.gov/consumer-tools/

managing-someone-elses-money/fiduciary-guides/.

MODULE 6: DEALING WITH DEBT 46
MODULE 7

Understanding Credit 

Reports and Scores 

Building a positive credit history (which is measured 

through credit reports and scores) can help you when 

getting a job or approval for housing or a loan.

At a glance in the toolkit

This module explains the importance of credit reports and scores and reviews ways 

to improve and maintain your credit history.

 Requesting your free credit reports

 Reviewing your credit reports

 Disputing errors on your credit reports

 Getting and keeping a good credit history

Overview 

The concept of “credit” can be complicated. People sometimes confuse the words 

debt and credit because they both have to do with borrowing money.

A simplified way to tell them apart is to think of credit as the ability to borrow 

money and repay it later, while debt is the money that you have to repay when 

you’ve used credit. You can have credit available to use without having debt. For 

example, you may have a credit card that is paid off—meaning you have credit 

available to use but don’t owe any debt.

When you take out a credit card or other loan, you create (or add to) your credit 

history. Sometimes when people talk about their financial situation, they say they 

have “good credit” or “bad credit.” This usually refers to their credit history.

MODULE 7: UNDERSTANDING CREDIT REPORTS AND SCORES 47
Credit reporting companies gather information from your credit history into a 

credit report. A credit report may show some of your bill payment history, along 

with some public record information and a record of how often you have applied 

for credit.

A credit report may also show how much available credit you have, how much of 

your available credit you’re using, whether you have made your payments on time, 

and whether debt collectors have reported that they’re attempting to collect debt 

that you owe.

The information in your credit report is used to create credit scores. Many lenders 

use credit scores to decide how much money they can lend you and how much 

interest to charge. In general, the higher your credit score, the better the loan terms 

may be.

Focus on people with disabilities

Sometimes people may dismiss the importance of good credit if they don’t plan 

to get a credit card or loan. Today, a wide range of businesses use credit reports 

and scores to make decisions about everyone. A good credit history can provide 

you with access to lower-cost financial products and other services. Having a 

good credit history is an important part of an overall asset-building and financial 

empowerment strategies that can help people reach their goals, including:

§ Getting and keep a job

§ Getting an apartment

§ Getting insurance coverage

§ Getting lower deposits on utilities and better terms on cell phone 

purchase plans 

§ Getting a credit card 

§ Getting and keep a security clearance for a job, including a military position 

Anyone can request credit reports by mail, including if a person has a legal 

representative or court-appointed guardian. Requests should include: 

§ Legal name of the individual with a disability

§ Address

§ Birth date

§ A copy of the individual’s birth certificate

§ A copy of the individual’s Social Security card

48 FOCUS ON PEOPLE WITH DISABILITIES
And information about the legal representative’s or court-appointed 

guardian’s status: 

§ Proof of legal representation or guardianship

§ A copy of driver’s license or other government-issued identity card with 

current address

§ A copy of a current utility bill

Make sure the driver’s license and the utility bill have the same address.

The request and information should be sent to all three credit reporting 

agencies (CRAs).

To order reports by mail write down the address below and include the name of 

the credit reporting companies that the report is being requested from:

Annual Credit Report Request Service

P.O. Box 105281

Atlanta, GA 30348-5281

A person can order one free copy of their credit report every 12 months. Only one 

website is authorized to fill orders for the free annual credit report entitled under 

the law. To order a free credit report online, visit annualcreditreport.com, or 

call 1-877-322-8228.

For information on getting your credit reports, credit score, and disputing credit 

report errors, see Your Money, Your Goals Module 7: Understanding Credit Reports 

and Scores.

If a lender or other institution denies a person a credit card or loan application, 

the lender or other institution is required under Equal Credit Opportunity Act to:

§ Explain the specific reasons the application was rejected.

§ Explain that the applicant has the right to learn the reasons if asked within 

60 days

Credit discrimination is illegal. Under the Equal Credit Opportunity Act (ECOA), a 

creditor can’t discriminate in any credit transaction, including mortgages, against 

any applicant because of these factors:

§ Receipt of income from any public assistance program such as Social Security 

Disability Insurance (SSDI) or the Supplemental Nutrition Assistance 

Program (SNAP)

§ Race

MODULE 7: UNDERSTANDING CREDIT REPORTS AND SCORES 49
■ Color

■ Religion

■ National origin

■ Sex (gender) 

■ Marital status

■ Age, unless the applicant is not legally able to enter into a contract

■ Your exercising in good faith a right under the Consumer Credit Protection Act 

(such as disputing information in your credit report)

ECOA and Regulation B prohibit creditors from discriminating in any aspect of a 

credit transaction against an applicant because all or part of the applicant’s income 

derives from public assistance programs.

Fair lending concerns may arise under ECOA and Regulation B when a creditor 

requires additional documentation beyond that required by lawful applicable 

agency or secondary market standards and guidelines to demonstrate that SSDI is 

likely to continue, such as information about the nature of an applicant’s disability 

or letter from an applicant’s physician.

For more information on existing protections against credit discrimination see 

consumerfinance.gov/fair-lending/.

For more information regarding the obligations of creditors under ECOA regarding 

public assistance income and the verification of Social Security Disability Insurance 

(SSDI) and Supplemental Security Income (SSI) received by mortgage applicants, 

see our compliance bulletin files.consumerfinance.gov/f/201411_cfpb_bulletin_

disability-income.pdf.

Using the tools

YOUR MONEY, YOUR GOALS TOOLKIT

■ Complete “Requesting your free credit reports” to plan when you’re going to 

order your free annual credit reports

■ Complete “Reviewing your credit reports” to make sure all the information in 

them is correct and up to date

■ Review the “Disputing errors on your credit reports” handout to learn how you 

can dispute mistakes on your reports

■ Use “Getting and keeping a good credit history” to pick strategies you can 

implement to improve your credit scores

■ Complete all four items described above to make sure the information on your 

credit reports is correct

50 FOCUS ON PEOPLE WITH DISABILITIES
MODULE 8

Choosing Financial 

Products and Services 

Learning about financial products and services and how 

they work can help you better manage your money, 

improve your credit scores, and save for your goals. 

At a glance in the toolkit

This module helps you understand the different kinds of financial products and 

services available, how they might meet your needs, and how you can make the 

most of them. It also explains some of your rights and responsibilities when dealing 

with certain types of financial products and services. 

 Finding financial products and services

 Comparing financial service providers

 Opening a checking or savings account

 Avoiding checking account fees

 Evaluating your prepaid or payroll card

 Knowing your prepaid card rights

 Sending money abroad

MODULE 8: CHOOSING FINANCIAL PRODUCTS AND SERVICES 51
Overview 

Financial products and services are the tools you use to store and access money, 

make payments and purchases, send money to other people or businesses, 

and pay for purchases over time. They include things like checking and savings 

accounts; prepaid cards; payroll cards; government benefits and EBT cards; credit 

cards; money transfers; bill payment services; and loans.

One important key to finding the right financial product or service is first thinking 

about the reason you need one. You may want a secure place to put the money 

you’re saving for your goals, unexpected expenses, or emergencies. You may want 

a convenient way to pay your bills or to use your mobile phone to access your 

financial accounts. You may be looking for a loan to buy a car. Or you may want to 

repair or build your credit history to improve your credit scores.

Using the tools

YOUR MONEY, YOUR GOALS TOOLKIT

■ Use “Finding financial products and services” to find out about products that 

may meet your needs and learn about how they work and where to get them

■ Use “Comparing financial service providers” to compare companies that offer 

the products or services you need and choose the one that’s right for you

■ Complete “Opening a checking or savings account” to make sure you have all 

the documentation and answers you need 

■ Review “Avoiding checking account fees” to choose strategies you can use to 

lower or eliminate fees

■ Complete “Evaluating your prepaid or payroll card” to make sure you 

understand the details and fees associated with using the card

■ Review the “Knowing your prepaid card rights” handout before you buy or use 

a prepaid card so you know about your rights and responsibilities

■ Review the “Sending money abroad” handout to learn about your rights and 

responsibilities when sending money to another country

52 FOCUS ON PEOPLE WITH DISABILITIES
MODULE 9

Protecting your Money 

Learn about ways you can protect yourself and your 

money with practical tips and information about your 

financial rights and responsibilities.

At a glance in the toolkit

This module can help you understand your rights and responsibilities within the 

financial marketplace, how to protect yourself from identity theft and fraud, and 

what you can do if you’ve been affected by identity theft, fraud, or a problem with a 

financial product or service. 

 Protecting your identity

 How to handle identity theft

 Spotting red flags

 Submitting a complaint

Additionally in this guide

 Identifying financial abuse and exploitation

Overview 

When you’re an empowered consumer, you understand your rights and 

responsibilities. There are many laws that protect you when it comes to financial 

products and services. It’s the Bureau’s job to enforce these laws and handle 

consumers’ complaints about financial products and services. 

Knowing what your rights are can help prevent you from being taken advantage of 

during financial negotiations and transactions. And understanding your obligations 

can help you avoid late fees or problems with an account.

MODULE 9: PROTECTING YOUR MONEY 53
You are also the first line of defense when it comes to protecting your financial 

information from fraud or theft. There are things you can do to be proactive about 

keeping your information safe.

Focus on people with disabilities

While many people are at risk of having their identity stolen, people with 

disabilities may face a higher risk of identity theft, financial abuse, and financial 

exploitation. Financial exploitation is the illegal or improper use of an individual’s 

funds, property or assets. This can occur through fraud or scams, or when 

caregivers, family members, or others improperly use an individual’s financial 

resources. The following circumstances or conditions may put a person at risk for 

financial exploitation:19

§ Having regular income and accumulated assets

§ Being trusting and polite

§ Being lonely and socially isolated

§ Being reluctant to report exploitation by a family member, caregiver, 

or someone they depend on

§ Being dependent on support from a family member or caregiver to remain 

independent

§ Receiving care from a person with substance abuse, gambling or financial 

problems, or mental health issues

§ Fearing rejection from or retaliation by the exploiter.

§ Being unfamiliar with managing financial matters

§ Having cognitive impairments that affect financial decision-making 

and judgment

While cons and scams perpetrated by strangers are commonly highlighted as risks, 

family members and people that provide services or care to individuals that have 

disabilities sometimes commit these offenses.

Consider a credit protection tool

People who are at risk of identity theft or who have been victims of identity theft 

may want to consider a credit protection tool. There are three types of tools that 

you can request from credit reporting companies: a security freeze, an initial fraud 

alert, or an extended fraud alert.

19 The following list is from Money Smart for Older Adults. See files.consumerfinance.

gov/f/201306_cfpb_msoa-participant-guide.pdf.

54 FOCUS ON PEOPLE WITH DISABILITIES
SECURITY FREEZE

A freeze on your credit report generally helps prevent new credit accounts from 

being opened in your name. Usually, third-party-access to your credit file is 

completely blocked from new users without your express authorization. 

A freeze helps prevent identity thieves from opening fraudulent accounts in your 

name. This also means you won’t be able to apply for credit as easily if you were 

planning to open a new account or apply for a loan.

You must contact each of the credit reporting companies to freeze your credit 

report. You will have to contact them to lift the freeze before a third-party can 

access your credit report.

INITIAL FRAUD ALERT

An initial fraud alert requires creditors to verify your identity before opening a new 

account, issuing an additional card, or increasing the credit limit on an existing 

account. This is a good first step if you’re worried that your identity may be stolen, 

like after a data breach. The alert lasts for one year and can be renewed after it 

expires.

EXTENDED FRAUD ALERT

An extended fraud alert requires creditors to contact you before approving credit 

and lasts for seven years. It also requires credit reporting companies to remove you 

from lists prepared for pre-screen offers of credit or insurance for five years. This 

is available if you've filed an identity theft report with one of the three nationwide 

credit reporting companies.

Learn more about credit protection tools by reviewing the "How to handle identity 

theft" handout, in the toolkit.

MODULE 9: PROTECTING YOUR MONEY 55
Financial abuse and exploitation

Financial exploitation often goes unreported because people do not know which 

steps to take. Remember, you do not need to prove that financial exploitation or 

abuse is occurring to report it. It is up to the professionals to take action if you 

suspect abuse.

Below is a checklist of resources that may help if you suspect financial abuse 

or exploitation.20 

Contact your Adult Protective Services agency. To find one in your area,visit 

napsa-now.org/get-help/help-in-your-area. The National Adult Protective Services 

Association recommends getting help if you notice any one of the following 

situations:21

§ Termination of vital utilities such as telephone, water, electricity / gas, 

or garbage

§ Unpaid bills and liabilities despite adequate income

§ Oversight of finances surrendered to others without explanation or consent

§ Transferring assets to new “friends” assisting with finances

§ Checks written to “Cash”

§ Unexplained disappearance of cash, valuable objects, financial statements

§ Unexplained or unauthorized changes to wills or other estate documents

§ Giving away money or spending freely

§ Appearance of property liens or foreclosure notices

20 Like other sections in this document, this checklist includes links or references to third-party 

resources or content that consumers may find helpful. The Bureau does not control or guarantee 

the accuracy of this outside information. The inclusion of links or references to third-party sites 

does not necessarily reflect the Bureau’s endorsement of the third-party, the views expressed on 

the outside site, or products or services offered on the outside site. The Bureau has not vetted 

these third-parties, their content, or any products or services they may offer. There may be other 

possible entities or resources that are not listed that may also serve your needs. The following 

sources were used to compile this checklist: Money Smart for Older Americans; the National 

Center on Elder Abuse within the Administration on Aging, Department of Health and Human 

Services; Eldercare Locator, within the Administration on Aging, Department of Health and 

Human Services; Office of Justice Services, Bureau of Indian Affairs; National Indian Law Library.

21 See National Adult Protective Services Association, napsa-now.org

56 FOCUS ON PEOPLE WITH DISABILITIES
You can also report financial fraud to your state’s attorney general’s office. Use this 

locator to find the office in your state: 

justice.gov/usao/find-your-united-states-attorney.

If you suspect that identity theft has occurred as part of the overall financial abuse 

and exploitation, you can report this to the Federal Trade Commission (FTC) 

at ftc.gov/idtheft or by calling 1-877-IDTHEFT (438-4338).

The FTC has an online toolkit that includes a detailed guide for protecting your 

personal information, with instructions and sample letters to help spot and 

respond to identity theft: Identity Theft—A Recovery Plan.

22 An online complaint 

form is available directly at ftccomplaintassistant.gov.

You may feel you need legal assistance to help with getting back money or 

property that was taken or to get protection from additional exploitation. If the 

individual is over 60 years of age, contact a federally- funded legal assistance 

program known as Title IIIB legal services programs. Title IIIB legal services 

programs can provide legal assistance on issues such as income security, health 

care, long-term care, nutrition, housing, utilities, protective services, defense 

of guardianship, abuse, neglect, and age discrimination, as well as financial 

exploitation. Legal assistance in these programs is targeted towards older 

individuals in social and economic need. Each program has its own priorities and 

eligibility guidelines regarding case acceptance and areas of representation. You 

can find out about your local legal assistance programs by using the Legal Services 

Corporation legal aid locator at lsc.gov/what-legal-aid/find-legal-aid.

To locate your local Area Agency, call the Eldercare Locator at 1-800-677-1116 or 

search at eldercare.acl.gov.

Submit a complaint to the CFPB if the complaint is about a consumer financial 

product or service.

22 See Federal Trade Commission, Identity Theft - A Recovery Plan, September 2018, 

consumer.ftc.gov/articles/pdf-0009-taking-charge.pdf.

MODULE 9: PROTECTING YOUR MONEY 57
Using the tools

YOUR MONEY, YOUR GOALS TOOLKIT

■ Read the "Protecting your identity" handout for ways to guard yourself against 

identity theft

■ Review the "How to handle identity theft" handout to learn what steps to take if 

your identity has been stolen

■ Study the "Spotting red flags" handout to see some of the warning signs that a 

sales deal might be a scam

■ Learn how "Submitting a complaint" can help you if you’ve had a problem with a 

financial services company

FOCUS ON PEOPLE WITH DISABILITIES

■ Use “Identifying financial abuse and exploitation” to spot unusual activity and 

behavior and decide whether to get assistance on situations involving financial 

abuse or exploitation

58 FOCUS ON PEOPLE WITH DISABILITIES
 GETTING STARTED

Identifying financial abuse and 

exploitation

Use this tool to identify if financial abuse and exploitation 

are happening.

It’s unpleasant to think about someone taking advantage of a person with a disability 

that needs assistance, but it happens. Identifying financial exploitation may be 

difficult. Individuals may be reluctant to say anything about what is happening to them 

out of embarrassment and shame, fear of reprisal, dependency on the perpetrator of 

the offense, or fear of further straining a family relationship. Family members or close 

friends may be unaware of the situation or they may be the individuals committing 

financial exploitation or abuse.

What to do

■ Read through the list of signs that financial exploitation may be occurring. 

■ Review and mark the checklist if there are concerns about someone's living 

conditions, care provision, or financial situation. 

■ Use this information to decide next steps and whether to get assistance.

A step further

For additional support contact your local Adult Protective Services agency. To find 

one in your area, visit napsa-now.org/get-help/help-in-your-area.

MODULE 9: PROTECTING YOUR MONEY 59
Take first steps in Identifying financial 

abuse and exploitation.

1. Read through the list of signs that financial exploitation may be occurring.

2. Check the box if any are suspected, observed, or reported.

3. Use this information to help you decide whether to get assistance.

Unusual transactions

SITUATION. SUSPECTED. OBSERVED. REPORTED.

The individual transfers title of home or other 

assets to someone else for no apparent reason.

Frequent checks are made out to “cash” from the 

individual’s account.

Unusual bank or credit card account activity is 

noticed on statements or reported by a financial 

institution.

The individual takes out a large, unexplained loan 

or reverse mortgage.

Changes are made to the individual’s will that are 

unexplainable or done when the individual is ill or 

otherwise incapacitated.

Unusual information in a tax return is spotted.

Signatures on checks, legal documents, or other 

communications do not match the individual’s 

signature.

The caregiver’s name is added to the accounts 

of the individual or the caregiver becomes an 

authorized user on credit card accounts belonging 

to the individual.

MODULE 9: PROTECTING YOUR MONEY 60
Changed environment 

SITUATION. SUSPECTED. OBSERVED. REPORTED.

Bills go unpaid or overdue when someone else 

has been charged with paying them for the 

individual.

Living conditions are below expectations in spite 

of financial resources.

The individual’s personal belongings, important 

papers, credit cards, or identification documents 

go missing.

Unusual behavior.

SITUATION. SUSPECTED. OBSERVED. REPORTED.

Caregivers or family members caring for the 

individual seem to isolate him from other family 

members, friends, and community events or 

gatherings.

The individual seems suddenly more fearful and 

becomes reluctant to talk about topics that were 

once routine conversations.

The individual does not know how much income 

she receives. The caregiver is unwilling to share 

that information when asked.

A caregiver receives an unusual level of expensive 

or frequent gifts paid for with financial resources 

of the individual.

A live-in caregiver refuses to leave or to leave the 

individual alone with visitors even when requested 

to do so.

61 FOCUS ON PEOPLE WITH DISABILITIES
Additional resources 

Help with benefits

§ For help with benefit eligibility, visit benefits.gov.

§ To check on Social Security and Medicare status, call the Social Security 

Administration 1-800-772-1213 or visit ssa.gov.

Help with health care bills

§ To find out about local Medicaid and Children’s Health Insurance Program (CHIP) 

programs, visit medicaid.gov.

§ To enroll in health insurance, visit healthcare.gov.

§ To get local help with Medicare and State Health Insurance Programs (SHIP) 

programs, visit shiptacenter.org...

Help with housing or paying utility bills

§ To find out about public housing and eligibility, call the Department of Housing 

and Urban Development’s (HUD) Housing Counseling Office: 1-800-569-4287. 

§ Call the Federal Communications Commission (FCC) to see if you qualify for a 

“Lifeline” phone rate at 1-888-225-5322...

Help finding a job

§ Search for job: USA.gov/find-a-job.

§ Call the American Job Centers to find out what’s required for different careers at 

1-877-872-5627...

Help dealing with debt

To find a certified nonprofit credit counselor for debt management support, call the 

National Foundation for Credit Counseling (NFCC) at 1-800-388-2227.

MODULE 9: ADDITIONAL RESOURCES 62
Help finding a lawyer

§ For legal resources listed state by state, visit lawhelp.org.

§ To find out if you are eligible for assistance from a legal services program funded 

by the Legal Services Corporation, visit lsc.gov/what-legal-aid/find-legal-aid.

Help getting a bank or debt collector to respond

§ Submit a complaint with CFPB at consumerfinance.gov/complaint.

§ Contact the State Attorney General’s Office at naag.org/naag/attorneysgeneral/whos-my-ag.php.

Help with student debt

§ For more about student debt, visit cfpb.gov/paying-for-college.

§ To find out about Total and Permanent Disability (TPD) discharge 

of federal student loans, visit the Department of Education TPD 

website at disabilitydischarge.com.

Help with the purchase of assistive technology 

§ For information about the federally funded Alternative Financing Program, 

contact the Administration for Community Living at acl.gov/programs/assistivetechnology/assistive-technology.

§ For a listing of Alternative Financing Programs offered by state, visit the 

Pennsylvania Assistive Technology Foundation at patf.us/who-we-are/.

Help with identity theft 

§ To protect your identify, visit identitytheft.go.

Help with credit reports and scores

§ To order a free credit report, call 1-877-322-8228 or visit annualcreditreport.com.

§ To understand credit reports and scores, visit consumerfinance.gov/consumertools/credit-reports-and-scores/.

63 FOCUS ON PEOPLE WITH DISABILITIES
For more information, Service providers can refer to the full “Your Money, Your 

Goals” toolkit online at consumerfinance.gov/your-money-your-goals.

If you’re having a problem with a bank account, credit card, student loan, consumer 

loan or other financial products or services you can submit a complaint with the 

CFPB at consumerfinance.gov/complaint.

Mail

Consumer Financial Protection Bureau

P.O. Box 2900, Clinton, IA 52733-2900

Email

YourMoneyYourGoals@consumerfinance.gov

Toll-free phone

1-855-411-2372

Monday–Friday

8:00 a.m.–8:00 p.m. ET

TTY/TDD phone

1-855-729-2372

Fax

1-855-237-2392

MODULE 9: ADDITIONAL RESOURCES 64
Consumer Financial Protection Bureau prepared the tools included in the Your Money, Your Goals: 

Focus on People with Disabilities companion guide as a resource for the public. This material is 

provided for educational and information purposes only. It is not a replacement for the guidance or 

advice of an accountant, certified financial advisor, or otherwise qualified professional. The CFPB is 

not responsible for the advice or actions of the individuals or entities from which you received the 

CFPB educational materials. The CFPB’s educational efforts are limited to the materials that CFPB 

has prepared.

The tools may ask you to provide sensitive information. The CFPB does not collect this information 

and is not responsible for how your information may be used if you provide it to others. The CFPB 

recommends that you do not include names, account numbers, or other sensitive information and 

that users follow their organization’s policies regarding personal information.

This guide includes links or references to third-party resources or content that consumers may 

find helpful. The Bureau does not control or guarantee the accuracy of this outside information. 

The inclusion of links or references to third-party sites does not necessarily reflect the Bureau’s 

endorsement of the third-party, the views expressed on the outside site, or products or services 

offered on the outside site. The Bureau has not vetted these third-parties, their content, or any 

products or services they may offer. There may be other possible entities or resources that are not 

listed that may also serve your needs.

65 FOCUS ON PEOPLE WITH DISABILITIES