Financial Wellness
Financial wellness is the proactive process of effectively managing one’s financial life to reduce money-related stress and build security for both the present and the future. It involves developing healthy financial habits such as budgeting, saving, investing, and managing Social Security disability benefits to maintain control over daily expenses while also preparing for long-term goals and unexpected financial challenges. Financial wellness in a vocational context refers to the ability to strengthen finances in order to:
- Build emergency savings
- Improve credit
- Save money
- Reduce reliance on public benefits
The VRTAC provides technical assistance and training on and the importance of benefits counseling and work incentives in promoting employment and job retention, SSI and SSDI program myths, Financial Health Assessments, financial empowerment services, financial self-efficacy, self-determination, ABLE accounts, and the relationship between managing money, achieving goals, and attaining/retaining employment.