THIRD ANNUAL FINANCIAL
LITERACY LEADERSHIP
CONFERENCE
Financial Literacy: Next Steps
October 25-26, 2010
Crystal Gateway Marriott
Arlington, VA
FINANCIAL EDUCATION
FOR PERSONS WITH
DISABILITIES
Michael Morris, J.D.
Executive Director
National Disability Institute, Washington, DC
And
Chief Executive Officer (CEO)
Burton Blatt Institute
Syracuse University
mmorris@ndi-inc.org
Learning Objectives


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

Demographics
Why is Financial Education Important for Persons
with Disabilities?
Tips for Implementing Curriculum
Resources and Tools
Best Practices from the Field
National Disability Institute
A national research and development organization
with the mission to promote income preservation
and asset development for persons with disabilities
and to build a better economic future for Americans
with disabilities.
5
“About 44 million Americans – one in seven –
lived last year in homes in which the income
was below the poverty level, which is about
$22,000 for a family of four. This is the
largest number of people since the Census
began tracking poverty 51 years ago.”
Washington Post, September 17, 2010
6

For individuals with disabilities,
current state of income that falls
below the poverty level is at least
double when compared to their non
disabled peers (28% versus 14%)
7

No group in America is more in need
and more deserving of economic
recovery
Americans with Disabilities Act
Definition

The term "disability" means, with respect to an
individual
 (A)
a physical or mental impairment that substantially
limits one or more major life activities of such
individual;
 (B) a record of such an impairment; or
 (C) being regarded as having such an impairment
Disability Demographics
Demographics

54 million people

22 million families
Employment

22 million working age

7.6 million working
Geography

15% in the Northeast

31% in the South

28% Midwest

16% West
Ethnicity
 12.7% White
 17.5% Black/African
American
 21.7 Native American
 6.3% Asian/Pacific Rim
 11.9% Other
-- Cornell 2009 Disability Status
Report




One in five adults living in the US have a
disability.
Three times more likely than their peers without a
disability to live at or below the poverty line.
Dependence on public benefits for income, health
care, food, and housing becomes a trap that
requires staying poor to stay eligible
Complex public benefit system
Enduring Poverty and Lack of
Economic Empowerment
Diminishes freedom
 Limits opportunity
 Stifles self-determination

Why is Economic Empowerment
Important?
Impact mental and physical health.
 Impact positively self-concept.
 Change status with other community
stakeholders.
 Directly impacts quality of life.

New Agenda – New Thinking
Institutions to Community Living
Special Schools to Public Education
Income Maintenance to Employment
Individual Plans to Self-Directed Accounts
Economic Insecurity to Full Citizenship
Building a Roadmap out of Poverty must include
Financial Education.
Tools and Strategies For A Better
Future

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





Financial Literacy
Income Production and Preservation
Matching Savings
Use of Work Incentives
Microenterprise Development and Home Ownership
Blending of Public and Private Resources
Use of Favorable Tax Provisions
Family Self-Sufficiency
Housing Choice Vouchers
15

For people with disabilities, there is a
new level of focus, energy, and
commitment to build a roadmap out
of poverty at a national, state, and
local level.
16
New Focus
 New Tools and Strategies
 New Partnerships

Focus on Economic Empowerment
17
Cross agency collaboration to remove
policy and program barriers to selfsufficiency
 Increase awareness and understanding of
ways social insurance, employment, and
asset development programs work
together rather than in conflict

Focus on Economic Empowerment
18
Empower persons with disabilities
with new knowledge, choices, and
supports
 Pilot, demonstrate, document, and
disseminate success at an individual
and systems level

New Partnerships
19
Establish community-wide savings and
asset building work groups
 Build a bridge across disability and
nondisability, public and private, for
profit and not for profit entities

New Partnerships
20

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Mayor’s Offices
United Way
IRS
FDIC
IDA Providers
EITC Coalitions
Financial Institutions
Microenterprise Lenders
Home Ownership and
Credit Counseling
Programs

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DD Council
VR Agency
Social Security Field
Office
WIPA Grantees
Peer Support Groups
Centers for Independent
Living
OMH
Community Action
Agencies
21
PURPOSE

Build disability inclusive free tax
assistance through trusted
networks
OUTCOMES

Growing awareness that
disability is a key component of
diversity

New income poverty research
linked to disability
ACTIVITIES
•Create disability workgroups
within free tax coalitions
•Design free tax services and
products that are accessible
across the disability
continuum
•Create volunteer tax modules
that address serving
taxpayers with disabilities
•Hold asset summits to
introduce disability community
to financial community
•Provide benefits education
about receipt of public
benefits and tax credits
22
REI Tour Outcomes
23
YEAR
RETURNS
PREPARED
TAX REFUNDS
RECEIVED
$$ SAVED
CITIES
PARTNERS
2005
11
-----
7,600
$6.8 mil
$1.5 mil
2006
30
200
17,223
$15.3 mil
$3.4 mil
2007
54
355
36,275
$32.6 mil
$7.2 mil
2008
62
555
90,653
$81.0 mil
$18.1 mil
2009
84
634
181,152
$176.6 mil
$36.2 mil
2010
100
710
360,499
$351.5 mil
$72.0 mil
693,402
$663.8 mil
$138.4
mil
TOTAL:
Financial Education &
Persons with Disabilities




Little federal or private attention has been given to the
study of financial education for persons with
disabilities.
Financial education is understudied, un-funded and
mainly unrecognized as a piece of the puzzle in
reducing poverty and building economic independence
and self-sufficiency for working adults with disabilities.
TaxFacts+ Campaign found that only 21 percent of 649
working individuals earning $35,000 or less had
participated in a class or workshop on how to handle
their money.
Participants reported teaching material used for
financial education was not understandable or
accessible.
Financial Education for Individuals,
Families, and Employers



Need a framework for building financial
relationships with non-traditional partners in the
community.
Professionals in financial services need education
about the specific needs of individuals with
disabilities on public benefits who are working.
Employers of individuals with disabilities need
information and guidance in assisting workers
with various options for employee benefits
Inclusive not Unique Curriculum

Designing separate curriculum is not necessary.
So what is necessary?
 Enduring individuals with disabilities receive the
same educational benefit as those served without
disabilities.
 Creating an inclusive environment that is
empowering, disability sensitive, and solution
oriented.
Indicators of an Inclusive Environment



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Spirit of Inclusion
Barrier Free Environment
Accessible Communications Options
Absence of Program Barriers
Utilization of Community Resources
NDI’s Accessible Financial Literacy checklist:
www.realeconomicimpact.org/data/files/other%20doc
uments/Accessible_FL_Checklist.doc
Practical Application

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Disability Etiquette & Use People First Language
Complex roadmap in navigating public benefit
system – important to be mindful of this
Relevant topics to individuals ex. 401 K may not
be as important due to resource limits
Be creative and make it interactive
Incorporate financial institutions and nontraditional partners in the delivery of the
curriculum
Make materials accessible
People First Language



Positive language empowers.
When writing or speaking about people with
disabilities, it is important to put the person first.
Group designations such as "the blind," "the
retarded" or "the disabled" are inappropriate
because they do not reflect the individuality,
equality or dignity of people with disabilities.
Further, words like "normal person" imply that
the person with a disability isn't normal, whereas
"person without a disability" is descriptive but
not negative.
Making Materials Accessible & Providing
Accommodations

Alternative Formats (examples)
 Braille
 Large

print
Accommodations (examples)
 American
Sign Language Interpreters
 Additional time for tests
 Reading questions aloud

Technology (examples)
 Screen
readers
 Closed captioning for videos
Resources
Accommodations and Disability Etiquette
 ADA National Technical Assistance Center (free personalized
assistance to understand and implement the ADA) –
www.adata.org/Static/Home.aspx
 General Tips for Communicating with People with Disabilities
– www.earnworks.com/docs/FactSheets/.../FS-ERCommunicating.pdf
 “At Your Service: Welcoming Customers with Disabilities”
(self-paced web course) – www.wiawebcourse.org
 Job Accommodation Network – www.jan.wvu.edu
Resources
Financial Literacy
 VISA Financial Soccer (REI Tour version) –
www.realeconomicimpact.org
 Practical Money Skills for Life –
www.practicalmoneyskills.com/games
Economic Empowerment
 National Disability Institute –
www.realeconomicimpact.org
 Equity Newsletter – www.wid.org/programs/access-toassets/equity
“My American Dream seems simple: to live on my own
and be self-sufficient, to live with dignity and
independence. I struggle with my finances right now,
but I am an optimist – I believe that I can make
progress with my job, move forward and become part
of the mainstream economy and achieve my goals.”
Cynthia Battles
2008 REI Tour Adult Blogging Contest Winner
Rutland, VT